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Monday, September 26, 2011

Recommendations to Greece (and the EU)

McKinsey recently published a 500-page study about the potential of the Greek economy. They focus on 5 major areas: tourism, energy, food, agriculture and retail businesses. Furthermore, they identify 4 niches where Greece could make a name for herself: generics, acquacultures, medical-tourism and shipping-hub. If implemented, McKinsey estimates that about 500.000 new jobs could come into existence within the next 10 years.

To the Greek government: ask as many other firms/experts as you can to prepare similar studies. When completed, put all the proposals on a list and prioritize them. And then implement them step-by-step! If you need to establish a new "Economic Development Ministry" for that purpose, do it but make sure that it is formed with the help of experts and run like an efficient Ministry ought to be run.

To the EU: prod the Greek government that they do the above. Help them to accomplish implemention in whatever form or fashion you can do that. Don't force them; motivate them! Offer them expert teams. Get middle-market entrepreneurs involved to help the Greeks. Declare it as an EU-priority to assist that the Greek economy can be turned around from a corrupt and crony-driven economy into a value-generating market economy.

When steps like the above are taken, Europeans will start to realize that it is an advantage to have the EU!

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