GREECE CRISIS 2011

Greece

Crisis

Greece

must continue on the path of reform - refurbished economic structure is essential to restore growth, competitiveness along with an austerity drive to restore the budget to a primary surplus. Stepping up reform in Greece accompanied by a strategy to reduce interest payment and stabilize domestic demand. In some areas progress seems to have been inadequate so far. Therefore a program for

Greece

should include

(a) still greater reform efforts, above all on the privatization front.

(b) Voluntary buyback of Greek bonds spiced with a partial guarantee
from the EFSF.

(c) Insurance of new bonds covered by premiums to the ESFS

(d) together with the EU, Greece should map out a long-term investment program for pivotal sectors such as energy, transport and tourism. Front loaded investment spending could help to stabilize internal demand.

A revitalized Greek economy will turn the tide. The dictionary is the only place where success comes before work. We must strict to the original plan.

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