No investments no growth

The last days we hear a lot of noise about the Greek issue. Will their congress pass the new laws? Will the PSI be implemented on the Greek bonds and economy will be once more in stability? We will know soon…

The problem is that EU and IMF are trying to cure the same disease using the same treatment. What I mean, so far they have pushed Greece to pass austerity measures, cut salaries and raise taxes.  This policy has leaded somewhere? NO! Of course there are more measures to be taken but even those won’t help much. Right now basic salary is at 400 euro and taxation is far beyond tolerated limits.

What we haven’t seen so far is a real plan to get Greece out of crisis, meaning a plan that will guarantee new jobs and a chance to give growth rates once more.  When you got 20% of unemployment you must creates new jobs cause if you don’t, the chance of producing something is gone forever. Ne jobs means money to buy goods and also taxation.

So if European Union really wants this bailout program to have success a better strategy will be needed instead of the old fashioned way