The biggest problem in Greece is not a heavy debt burden, but a continuing love for communist ideas, Panos Murdukutas, a Forbes columnist, said. In his view, the country continues to squander precious economic resources and talents at a time when it can not afford it.
Greece's biggest problem is not a heavy debt burden, but the sympathy of its citizens to communism, a system that is wasting resources and talents of the country, is killing sensible initiatives to stimulate economic growth, Forbes columnist Panos Murdukutas said.
Greece has never become a communist country. But some of the unfortunate ideas of communism dominate its postwar economy to this day. For example, the idea that a large state can be a more successful owner and manager of enterprises than individual entrepreneurs. And one more thing - that a large state can provide everyone with a good and stable job, a generous pension, free education and health care.
As the observer notes, different governments arose and disappeared, and the Greeks "could live a communist dream" while these governments borrowed funds to sponsor it.
Nevertheless, a major debt is not the main problem of Greece. The debt of Japan is much greater than that of Greece, but Japan can still use almost zero interest rates to finance its needs.
The biggest problem in Greece is the "ongoing love" for communist ideas, while other countries in the region have abandoned them, writes Panos Murdukutas.
This means that the country continues to squander precious economic resources and talents at a time when it can not afford it.
Greece, for example, continues to provide free education in public universities for all, even for those students who never attend classes or complete studies.
"Is there any common sense left by a country that in ancient times taught the whole world in such different ways?" - the Forbes observer is interested.