Greece is eating into what little time it has left and becoming embroiled in situations that do not bode well.
In the field of the economy, any progress that is being made is basically because of tourism; elsewhere, there is nothing but stagnation. After a seven-year period that began with assurances of major reforms and with the most important ones having been left to gather dust in a drawer, not only has talk of their eventual implementation dried up, but some of the reforms that were implemented are being undermined – starting with the pension system, since pensioners are electorally crucial. Pre-election benefits are dominating the agenda, as the government seeks to increase the benefits package it will announce in September – it has already reached €2 billion.
As for the rest, the Greek business community is concerned by the political risks it sees, and is adopting a wait-and-see attitude as it weighs them. The fact that the European Union’s Recovery and Resilience Fund is winding down has two consequences. First, in view of the financing gap, there is an evident reticence for new business plans. Second, the climate is deteriorating, as complaints about the government and mutual accusations are being increasingly voiced.
