Greece
The first financial crisis shoe to drop.

Debts Give Greece Little Leeway

7/6/19
from The Wall Street Journal,
7/6/19:

Center-right party is poised to win Sunday’s general elections, but even its pro-business leader will have hard time revitalizing economy.

Greeks are expected to elect a pro-business government Sunday, but the prospects for the country’s crisis-scarred economy remain grim. After suffering the deepest depression in a developed country since the 1930s, Greece’s economy is still 24% smaller than in 2007, before the financial crisis began, according to national statistics figures. Its creditors, led by Germany, continue to insist that the country run big budget surpluses to service the bailout loans made in recent years. Creditors’ tough targets have saddled Greece with suffocatingly high taxes, deterring business activity and contributing to heavy emigration, especially of young and educated people.

Red tape, bureaucracy and a chronically slow legal system have defied many attempts at overhauls and continue to make Greece one of the most difficult places in the European Union to do business.

More From The Wall Street Journal (subscription required):



365 Days Page
Comment ( 0 )