Invest In Greece
Are you kidding ?
What an investor seeks is opportunity. This means a very good probability that an investment can flourish, yield good profits and a capital gain. There are different areas of opportunity and each is examined, studied, from the perspective of its nature e.g Tourism, Manufacture, Service etc. All opportunities, however, are examined and evaluated after one essential premise has been diligently examined and that is safety.
Safety of capital invested, of personnel, of operations.
What does the prospective investor see in Greece today?
Lawlessness. Court decisions take years to reach. Those that are decided “pronto” are totally disregarded, without any consequence to anyone except the plaintiff. e.g The Total disregard of Court decisions declaring certain strikes unlawful and without merit. Worse, the strikers receive, from their employer, their full pay while on strike, so they go on striking without any consequence to their pockets, but with negative consequences to their employer and others.
Trespassing is rampant. Fully 40% of Public Property has been trespassed. After 25 years of continued trespass the trespasser becomes owner.
Blocking streets and highways is a common way of expressing dissatisfaction, or, expressing demands. Farmers block highways to demand subsidies, or higher prices, which impedes the transportation of goods. Truckers suffer, the market suffers, export orders are cancelled. Truckers block streets and highways to protest against “this or that”. Farmers suffer because they can not bring their produce to the markets, or, to refrigerated warehouses. Dockers block the ports and bring loading/unloading to a standstill. Customs officers strike and bring Imports/Exports to a standstill. Mariners block ports to prevent Cruise Ships from embarking, or, disembarking tourists, for reasons of their own private interests.
Garbage collection is habitually disrupted by strikes for more than one “cause”.
Every time the Union of the Public Electricity Company “demands” if not immediately satisfied turns off the switch and the country is without electricity. Who cares about the resulting economic damages to the businesses, people, market, industry. Currently the Union opposes privatization of the whole, or, part of the 52% of the company which is still public property, who cares what the 48% of the company traded in the Athens Stock Exchange wants, and what the Greek tax payers (the 52%) want. The interests of the Union are the Law ! So is the case with Public Corporations across the board. The workers “own” them and co-manage them.
Recently there is a new “movement”, that of the Free Riders. The “extreme socialism” parties are encouraging Public Transit riders to ride free. They even block, or, destroy ticketing machines, even assaulting verbally and, at times, physically those who want to validate their tickets.
In Greece every demand, or, protest is “dynamic” in that it is presented forcefully with peace disturbing actions, threats, violence and the ensuing damage to other people and the economy.
What about the Future ? Greek Youth is accustomed to total disregard for Law and Order. The situation in Greek Universities is unbelievable. Students decide who should teach them and what. They decide on the composition of the Boards of Trustees. They prevent other students from taking exams. In University premises there are “enclaves” where people who have nothing to do with the Universities store their “weapons” to be used every time they want to create a disturbance out in the streets, or where student political parties groups meet and therefore prevent others from entry to their “enclaves”. Students are expelled from their dorms and are used to house people with no relation whatsoever to the Universities. The infamous University Asylum renders possible every unlawful, illegal, act. Youth is the country’s future and it is conditioned to lawlessness and pursuit of own interests with no regard for others, receiving education in corrupt conditions where meritocracy is a non existent situation. What will the Greek mentality be when this Youth will run the country? BE the country.
Disorder. Lawlessness. Anarchy. Chaos. Why should anyone invest in Greece when one has no guarantee that the investment can proceed smoothly, operations will not be disrupted because of extenuating circumstances, that the Courts can deliver not only decisions that are inconsequentially ignored and not enforced, but truly J u s t i c e. What can an investor expect years from now, when today’s ill directed Youth becomes the Greek Society ?
Even Greeks are not investing in Greece. They prefer the tranquil and safe environment of neighboring countries.
The Greek Government is trying to attract Foreign Investment with new measures purporting to make Greece economically attractive and provides strong incentives to Greek and Foreign Investment. However it does not seem to have realized that its first concern should be to change the character of Greece. To the eyes of everybody Greece is in a state of insanity. Who in his right mind would risk investing there.
A change of character can not happen overnight. It takes a long and concerted effort. This is why the future of Greece appears bleak.