Is there a strategy that can free Greece from the grip of today’s unprecedented economic and social crisis and place her on a path of sustainable development and solid prosperity? The signers of this article believe that the answer is yes if the country is willing to go beyond the measures of fiscal austerity and market reform advised by the EU-ECB-IMF ‘troika’. We predict that market reforms will not succeed unless they are supplemented by powerful pro-growth policies. The real choice for Greece is not between solvency and default or between reform and stagnation; it is between prosperity and underdevelopment. We propose for debate and parliamentary approval seventeen radical reforms that will unlock the productive forces of the economy by shifting the burden of economic development from the state to the private sector. The government will retain responsibility for defense, law and order, social justice, and a share of education and infrastructure.
This article has been written by Costas Azariadis, Yannis Ioannides and Chris Pissarides. The full article here.
A short version of the article in Kathimerini newspaper here. A summary of the Kathimerini article in Business Week magazine here. An interview related to the article in Epilogi magazine here. An expanded and updated version of the article in the Athens Review of Books here.