ATHENS – The economy of Greece shows great potential for growth but what is necessary is reform, newer infrastructure and a resilient political will, according to Sir Christopher Pissarides, a Nobel prize laureate.
Sir Pissarides, a British-Cypriot professor, shared the Nobel economics prize in 2010 with two other recipients. He has specialised in understanding the economics of unemployment, structural reform and growth policies.
Greece’s Prime Minister Mitsotakis chose Sir Pissarides to chair a committee directed towards drafting a long-term growth strategy post a decade-long crisis with debt.
Pissarides took up the task as he believes that Greece has undergone a lot more than it should in the past decade. He believes that the plan shall be in place by September.
He identifies that Greece displayed growth potential in the fields of environment, energy, food and agriculture, tourism, transport and logistics, education and culture and innovation.
“There are certainly good prospects for growth, but work towards reforms and new infrastructure is needed. Political will is needed and it is there.”
– Sir Christopher Pissarides
Mitsotakis believes that an economic strategy for Greece shall correspond to its necessity for environmental protection to heal the country’s economic problems- heavy public debt, low productivity and reduced investment funding.
“These are long-term challenges that will be dealt with, not issues that a magic wand can solve.”
– Mitsotakis, Greece Prime Minister
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.