'An economic policy grounded on over-taxation has an expiration date and an economic development model based exclusively on consumption and imports is by its very nature skewed.'
The Greek economy has suffered all these years from bailout memorandum obligations to impose strict austerity. Today, it continues to suffer due to the plans of a government that is concerned only about the next elections.
In both cases, the victim is economic growth. Trapped between perpetual austerity and boundless electoral pledges, the economy has been deprived of growth prospects.
The business community is ringing the alarm bells. The Hellenic Federation of Enterprises (SEV) notes in its weekly bulletin that the government’s budget has limited growth prospects.
It also underlines that an economic policy grounded on over-taxation has an expiration date and that an economic development model based exclusively on consumption and imports is by its very nature skewed.
It is not just the economy that pays for these dysfunctions. It is society, and especially the lowest economic brackets.
Over-taxation, austerity, and vote-mongering handouts trap the economy in a vicious circle which hinders growth and consequently impedes the creation of new jobs, which is the ultimate goal.