According to this article in the FT, MPs of the Chalkidiki region in Northern Greece argue that "the region should be developed for 'soft' tourism and rural activities that would protect the environment, such as bee-keeping and controlled woodcutting". And not, of course, for the mining of gold, as the Canadian investor Eldorado has been promised they could.
It is a testimony to the business incompetence of SYRIZA that they would demonstrate their reservations against large foreign investors at the time when Greece needs little else as much as foreign investments. SYRIZA does not seem to understand that this is not only an issue of Eldorado and the gold mine. They do not understand that EVERY potential foreign investor is watching how the SYRIZA government handles itself in this situation. I am not saying that SYRIZA should give Eldorado a blank check but they certainly should not play out disagreements in public. And above all, they should not display an antagonistic attitude towards foreign investors.
On the other hand, the above may speak for the political competence of SYRIZA. If it were their intention to demonstrate their reservations against foreign investments and foreign investors in general, then what better target would there be than a large international corporation which exploits the natural resources of Greece for its own profit.
It is a testimony to the business incompetence of SYRIZA that they would demonstrate their reservations against large foreign investors at the time when Greece needs little else as much as foreign investments. SYRIZA does not seem to understand that this is not only an issue of Eldorado and the gold mine. They do not understand that EVERY potential foreign investor is watching how the SYRIZA government handles itself in this situation. I am not saying that SYRIZA should give Eldorado a blank check but they certainly should not play out disagreements in public. And above all, they should not display an antagonistic attitude towards foreign investors.
On the other hand, the above may speak for the political competence of SYRIZA. If it were their intention to demonstrate their reservations against foreign investments and foreign investors in general, then what better target would there be than a large international corporation which exploits the natural resources of Greece for its own profit.
Foreign investment was never a goal for the Greek government. their financing of the Greek state was always based on the following 3 pillars:
ReplyDeleteTo write off the Greek debt.
To enter the QE program.
To absorb development, and other, funds from EU.