Tsipras has to tread fine line to revive Greece
Updated: 2015-01-28 07:43
By Fu Jing(China Daily)
|
|||||||||
But is what Tsipras advocates wrong? Does a country in recession need to take austerity measures? Tsipras has to remember that Greece also has a high fiscal debt level, and the Greek economy cannot develop by just issuing more government bonds.
Tsipras and his team will have to invest a lot of energy and time in negotiating with Brussels and the Bretton Woods organizations to reach compromises on debt payments. The most important, however, is restoring social and economic dynamics in Greece.
Greece used to have industries, including a thriving auto-manufacturing sector and factories processing farm products. But they have either closed down or shifted to other countries. The dignity of a country, as a young shopkeeper in Athens said, is also about producing its own goods. But for that, a country needs to attract capital and improve the efficiency of state assets.
Tsipras' predecessor Antonis Samaras had announced massive privatization measures. And even last week, he attended a ceremony in Piraeus for the extension of Chinese company COSCO's operations. But Tsipras's economic line is against privatization and foreign investment.
Will Tsipras's economic measures succeed in the current global situation? Tsipras needs to think pragmatically, which would allow him to relax the austerity measures as well as restore the economic and social dynamics of Greece.
Greece has everything that it takes to be a competitive economy. But it has to choose the middle path - as opposed to the far right and far left - to ensure economic development, as well as eliminate political uncertainties.
The author is China Daily chief correspondent in Brussels. Contact the writer at fujing@chinadaily.com.cn
- Global health entering new era: WHO chief
- Brazil's planning minister steps aside after recordings revelation
- Vietnam, US adopt joint statement on advancing comprehensive partnership
- European border closures 'inhumane': UN refugee agency
- Japan's foreign minister calls A-bombings extremely regrettable
- Fukushima impact unprecedented for oceans: US expert
- Stars of Lijiang River: Elderly brothers with white beards
- Wealthy Chinese children paying money to learn British manners
- Military-style wedding: Fighter jets, grooms in dashing uniforms
- Striking photos around the world: May 16 - May 22
- Robots help elderly in nursing home in east China
- Hanging in the air: Chongqing holds rescue drill
- 2.1-ton tofu finishes in two hours in central China
- Six things you may not know about Grain Buds
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
Marriott unlikely to top Anbang offer for Starwood: Observers
Chinese biopharma debuts on Nasdaq
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
US Weekly
Geared to go |
The place to be |