Monthly Archives: August 2012

The tale of a Greek village

My wife comes from a village in Northern Greece of about 2.000-3.000 people. When I first visited there in 1977, excitement was under way because an entrepreneur had started a new company to produce textiles. This generated enormous impulse to … Continue reading

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Where is an economic development plan for Greece (and the Eurozone)?

Suppose you were a visitor from another planet and you looked down at the Eurozone from your spaceship. You would see some countries (mostly in the North) which are doing quite well and you would see other countries (mostly in … Continue reading

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Special Economic Zones

Having argued tirelessly in favor of Special Economic Zones, I find this piece of news from the Ekathimerini simply sensational! What did the Chinese do a couple of decades ago? On one hand, they remained steadfast communists but, on the … Continue reading

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And what if the Troika-program worked, after all?

An economy, like a stock market, is very much a psychological thing. Shared negative views are likely to become self-fulfilling prophecies. However, the same forces work in reverse, too. Consider only the following two facts: (a) by all measures, Greek … Continue reading

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Spetses – the tycoons’ playground

An interesting article about an exclusive island near Athens. Similar scenes can be observed all over Greece, albeit in lesser dimensions. It escapes my imagination to understand why Greece cannot call its wealthy class to live up to its responsibility. … Continue reading

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Greece’s current account: January-June 2012

The table below shows the development of Greece’s current account in the period January-June 2012 relative to the same period the year before (in BEUR): 2011 2012 Revenue from abroad Exports 9,5 10,4 Services (e. g. tourism) 11,7 11,5 Other … Continue reading

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Chile as a possible example for Greece?

I know that this post is a dangerous one because I am embarking on the thin ice of praising something which published opinion, for very good reasons, has classified as politically incorrect — the happenings in Chile during the late … Continue reading

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