EDITORIAL

ACTIVE GREECE

Elisabeth Ktena

The weaker the political personnel are,
the stronger the entrepreneurial spirit proves to be

by Elisabeth Ktena

Hermes Review LTD

At a time when common sense is trying to come to an understanding with the country’s political personnel in order to avoid the total bankruptcy of Greece, the concern of the sound entrepreneurial forces of the country reaches its zenith.

This is because the inability of the politicians to follow the example of other countries of the eurozone and take immediate action has sucked out the oxygen from the domestic economic life.

The destruction of thousands of small businesses, the unemployment of hundreds of thousands of our fellow citizens and the national depression are not the only consequences of the political and economic impasse.

The greatest evil that occurs these days is the gradual execution of the last healthy entrepreneurial forces in the country. This is due to the following:

  • The international partners of Greek businesses are seeking new companies in other countries with less risk because, as stated to the Greek, “your company might be extremely healthy but it can easily fall under the weight of your country’s bankruptcy”
  • The standing of high-ranking executives of Greek businesses has been compromised abroad, making them unreliable partners in any effort to conclude a business transaction. Very often foreign colleagues ask them: “Will you have a job tomorrow?”
  • Banks do not issue bonds, refusing to fund serious investment projects which in the past they were queuing to undertake
  • The strikes add to the unreliability of Greek companies since said companies often fail to deliver their goods to foreign markets on time. Thus, what was earned after months of effort is lost within just a few days
  • The successive tax-raids, which will most probably continue at a faster pace, remove financial liquidity, leading yesterday’s profitable business to the dark side of the economy
  • The unstable political and economic climate nullifies even the suspicion of a thought of implementing investment projects by companies that have the power to do so. And this does not only refer to multinational companies but also to Greek businessmen wishing to invest: “How can anyone invest in real estate when tomorrow he may be required to pay taxes which he could not have even imagined?” wonders a representative of a large shipping company, who is considering “to resign in favor of the government from large plots of land he had purchased, even if there is the risk for those to be found in the hands of foreign investors under a special tax regime”

Within this nightmarish framework, the healthy domestic business core is trying to expand its vital space in order to grow. And the truth is that the core continues to vibrate and open new markets.

It’s actually surprising, the amount of resolve the country’s sound business forces possess in order to overcome the nightmarish consequences of the crisis and strengthen their presence abroad.

The data confirm the fact.

Practically, what is here recorded can be expressed through a very simple truth:

the weaker the political personnel are, the stronger the entrepreneurial spirit proves to be

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