Trade with Greece
1
E
verything suggests that, in the near future,
the Greek government will be called upon
to reach definite decisions. It will be called
upon to sign a new agreement with our partners
and creditors, an agreement that will become a
milestone for Greece's day after, signifying
whether we wish to stay our European course
and, of course, restore stability and liquidity in our
country, or enter uncharted waters, outside the
Euro zone.
The government is faced with a tough reality.
Reaching a viable agreement with Greece's part-
ners is crucial, since it is directly linked to the
country's ability to raise market funding. If the
negotiation fails, the country will be faced with
painful alternatives, which may jeopardize its euro
membership. However, striking a deal with our
partners is not enough for boosting growth and
permanently exiting the crisis.
What is really at stake for the market, but also for
the majority of Greek society, is how we will once
again create the conditions for economic growth;
a growth that will create high-quality jobs in order
to help the country deal with the scourge of unem-
ployment, and will enable the mobilization of the
country's human resources. A growth that will
generate increased national wealth, in order to
support social cohesion and gradually ameliorate
the impact of the crisis, especially on the finan-
cially weakest groups of the population.
The government will have to immediately draft
and implement a new national growth and social
cohesion plan, given that the option of ample and
low-cost state borrowing is not available anymore.
Constantine Michalos,
President of the ACCI,
Vice-President of Eurochambres
editorial
Creating conditions
for economic growth
is an absolute
necessity
We all know what default, credit event, Grexit mean. What it means for
a government not to be able to pay salaries and pensions. What it
means for a business to have to survive with closed banks and without
any customers. What it means for a household not to be able to cover
the bare necessities.
