Who holds the key to Greece’s future?
Greek has been bailed out again, but few believe it will be the last time. Most agree that continuous bailouts are not the answer and the question remains: what steps does Greece need to take to get its eonomy back on track.
The Foreign Policy Association’s Nasos Mihalakas believes it may be the Greek entrepreneur who holds the country’s key to the future.
He notes that many Greek entrepreneurs believe the growth of the government over the past 30 years “may have blunted young people’s appetite for risk. For many students, due to their parents cuddling and risk-aversion (“every parent wants their children to be safe”), the dream remains a cushy government job with a regular pay-cheque – not a business career.”
“However, Greeks are not that risk-averse, and per capita they have the largest number of small and medium size enterprises (SME’s) than any other EU country. Half the economy is dominated by SME’s while the other half is ‘safely locked’ under government control. In comparison to other EU countries, Greece has the highest concentration of SME,” he adds.