A noted Greek-German economist on Wednesday pointed to the time-tested “recipe” of innovation and support of the private sector economy via demand-driven structural reforms as the road to viable economic recovery for Greece.
Speaking at a conference in Athens organized by the EU Commission and the Athens-based Foundation for Economic & Industrial Research (IOBE), Alexander Kritikos, who leads the research unit of the German Institute for Economic Research (DIW), also warned that added value in the thrice bailed-out country has been sliced by more than a third, 38 percent.
Kritikos added that, excluding the labor market, the current regulatory framework in Greece still places obstacles in front of investments, ones absolutely necessary for the economy to grow.
