Greece’s Comeback
Author: Gikas A. Hardouvelis
China Fortune Magazine
September 2014
Abstract
Greece has put its fiscal affairs in order, has stabilized the econ-omy and has enabled its banks to recapitalise successfully. Competitiveness has been restored and the country has undertaken a series of liberalization measures, which have already had a visible impact on its critical tourism sector. It is also pre-paring the ground, through an ambitious privatization program (which has already raised E3 billion), for a substantial inflow of foreign capital. These combined efforts will enable our nation to fully exploit its exist-ing business expertise, its sectoral specialization and geographical advantage. And a more benign euro area monetary and fiscal policy will further reward Greece’s determination to return to high growth.
