Saturday, December 17, 2011

''Institutional Reforms Can Lead Greece Out of the Crisis'' by Elena Panaritis

''Resolving the deep and prolonged economic crisis in Greece -- an economic and financial storm of historic proportions and the worst since WWII -- requires a lot more than refunds. It requires more than short-term macroeconomic reforms and austerity measures.
Unsustainable debt was diagnosed as the underlying malady of our economic crisis. But after two years of trying to find the right cure, it appears we are actually suffering from a deficit of trust. There seems to be a lack of trust between the citizens and the public sector (the state). Greeks have yet to be convinced that any new set of austerity or macroeconomic reforms will end the crisis soon..''

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