By Panagiotis E. Petrakis
On June three, 2015, the Greek Parliamentary funds workplace, the nationwide and Kapodistrian college of Athens, the Democritus college of Thrace, and the college of Peloponnese backed a world convention to deal with medium- and long term development in Greece. This assortment provides the most powerful papers at the stipulations required to restore and keep fiscal progress. prime specialists conceal virtually each significant factor pointed out within the most modern literature, from demographic concerns and suggestions for export technique to the necessity for innovation and structural reform. the combo of qualitative and quantitative techniques to assessing current stipulations make this ground-breaking assortment a invaluable source for various lecturers, specialist economists, and fiscal coverage practitioners planting the seeds of Greece's future.
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Additional resources for A New Growth Model for the Greek Economy: Requirements for Long-Term Sustainability
The Banque de France created its major credit register in 1946; Germany has had a tradition of private associations, such as Credit reform established in 1879, which then internationalized their activity. There is also a requirement for convergence on legal procedures, notably bankruptcy: the idea of integrating capital markets, thus, requires really quite considerable steps in political and legal integration. 5 25 SHIFTING THE TAX BASE: TAX UNION Fourth, the debate about fiscal consolidation is in deed of rethinking.
In recent years, particularly in the European Union, it is believed that the reduction of labor costs will contribute to the competitiveness and adaptability of enterprises and thus to the maintenance of existing jobs and the creation of new ones. Since the early 1990s, Greece, following the guidelines of the European Union, gradually pushed a series of legislative changes aimed to promote flexible working, focused on areas such as wages and working time. The main conclusion of this chapter supports findings of other researches that the significant increase in flexible working, particularly after 2009, failed to increase employment and reduce unemployment in the Greek labor market.
But even this is not a “cure all” because experience in Japan and elsewhere suggests that the contribution of such additional employment to aggregate value added may not be large. The outlook is challenging but the issues are not impossible to address. More rather than fewer reforms will ultimately be needed, and carrying these through will require a consensus among Greek citizens that the reforms are necessary. E. PETRAKIS must surely come from a recognition that the problem exists and an attempt to conduct a realistic estimation of the size of the likely impact.
A New Growth Model for the Greek Economy: Requirements for Long-Term Sustainability by Panagiotis E. Petrakis