The Way Out for Greece - Bloomberg View

The Way Out for Greece - Bloomberg View

This is why we take issue with suggestions that ending austerity would unleash the Greek economy, or that structural reform is less urgent because it takes too long and has too limited an impact. On the contrary, there is plenty of evidence that Greece has been unable to become more competitive and escape its economic doldrums, because it has failed to adopt the structural reforms needed to give it a sustainable 240 billion euro economy again.

Ricardo Hausmann : Austerity Is Not Greece’s Problem

in 2008 the gap between Greece's income and the knowledge content of its exports was the largest among a sample of 128 countries.