Initiatives for development from Mr Azariadis and Mr Ioannides

Lets turn our attention to yesterdays enthralling discussion organised by AXIOTIS - which is a scientific, non-profit organisation dedicated to dialogue and promoting the principles of meritocracy, transparency and the modernisation of public administration, the business sector and civil society.

Speaking at the event was Costas Azariadis, from Washington University, St Louis, and John Ioannides, Tufts University, Boston, both of whom spoke on the much talked about subject of development. Mr Azariades’ talk was titled “A country seeking work.” He reminded those gathered that Greece has 3.2 million souls working in the private sector, 1.1 million in the public sector and 1.8 million pensioners. In other words One in two is waiting on the state. However, Greece has 1/3 of the Mediterranean coastline which is underdeveloped when it comes to private capital. What this means post Memorandum is that we may see a boom and a shift towards extensive infrastructure development with private financing. Along with opening up of the education system to private initiative, this could jump-start the economy.

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Up and running again...

Yes this blog is getting back on its feet.

Its been a hectic period - full of ups and downs, both for the nation and personally.

So in order to sate your thirst for information, here is an insight from one of Greece's preeminant thinkers, Mr Papagiannidis.

Greek politicians, may they live long, are an especially short-sighted race. As remarkable as they are short-sighted. (Correction: maybe not 'Greeks' in general, but perhaps better defined as Greek residents.)

And as a result of their shortsightedness - deeply self-destructive! Look at how they cried out in response to the capital flight in personal deposits. Let's look at examples of the impact of wild enthusiasm on the one hand, and of pragmatism on the other. The wild enthusiasm: In comes Theodoros Pangalos sounding alarm bells that the medium term financial plan would not pass into legislature, he describes a situation wherein Greece returns to the drachma, sending people running to the banks to withdraw their money, and the only thing that can stand in their way are the tanks and the armed forces.

Leaving aside the fact that Theo has most probably not seen a soldier, or any kind of military figure up close (hence his notion that they would be protecting beleaguered banks), lets also ignore the fact that the interview was given to Spanish newspaper (hence limited risk that it would be read by the natives), but given his statements, what is one to think, and what did he think would be the outcome of his statements. The exuberant and quick tempered Theo invited the people to withdraw their deposits and send them abroad, hide them under the bed, buy gold sovereigns, throw them down a well, put them in a bag and head of to Albania or Turkey, do anything to save them.

The rest of the article can be read here.