Posted by There is a fundamental problem in Greece and it has not been addressed yet.
The eeconomy is not generating enough value and it cannot pay back the loans outstanding today. If this situation is not changed, very soon there will be a new memorandum between Greece and her credtors.
For some reason the Greek people do not seem to either notice and/or care about this. and they spend more time on the useless theatrics of the political parties of a political system that is stagnant, if not decaying.
In 2015, and in spite of their rhetoric, many people hoped that SYRIZA would bring to the political life and system of Greece a breath of fresh air, and the country would pull forward to address its fundamental value creation deficit.
Four years later we know that SYRIZA (and their ally ANEL) managed to hold on to power but failed in every other respect. The New Democracy of Mr. Mitsotakis will most likely win the next palriamentary elections, but there is no sign that they will be able to tackle Greece’s fundamental problem.
(This is a comment I wrote in a FT article of 13 Jan 2019)
