Thursday, October 18, 2018

Growth Objectives And Plans Of The Greek Government

The Greek Public Debt Management Agency ("PDMA") published a 32-page PowerPoint presentation for use in foreign investor road shows. On pages 10-11, the presentation outlines the key growth objectives and the plans for accomplishing them. Since the slides below are difficult to read, it is best to refer to the original document.



These are beautiful headlines and bullet points! If these objectives and plans are backed by substance, Greece is headed towards a prosperous future! Here are some of the questions I have:

1. Have these objectives and plans between communicated to the Greek public? Have they been communicated to the Greek parliament? Does the Greek ruling class unequivocally support them?
2. Are there action plans behind the objectives and plans? Do they have time frames like when they were started, what the status is today and what the time frame is for their completion?
3. Are there truly projects like: A National Strategic Transportation Plan? A National Energy and Climate Plan? A National Digital Strategy? A National Public Investment Program? A 2017-2023 Action Plan for the Development of a Cohesive and Equitable Economy? A Strategic Plan of the National Central Authority for Health Procurements? A Youth "17-27" Strategy to Promote Youth Autonomy and Independence, Wealth and Well-Being?

When SYRIZA first appeared as an important force on the political stage, it offered, back in June 2012, a Manifesto which was full of beautiful soundbites. That Manifesto has long since then been forgotten. If the above objectives and plans are no more than beautiful headlines and bullet points, they will be forgotten just as quickly.


  1. To your questions, no. Greeks don't make or follow plans. They go out as a bunch of archers shooting off each their arrow. They then draw a target around where their own arrow landed and call theirs a bull's eye victory.


  3. Energy is key:

  4. Why is Greece's external debt declining?

  5. In contrast with these documents from PDMA.

    "The Legal Council of the State (the head is government appointment) and The Hellenic Council of State (Symvoulio tis Epikrateias) justify a few pensioners for cuts in 2011 and 2012.

    The question of the return of retrospectives came after the decision of the State Legal Council to refrain, from appealing to the first decisions that justify pensioners for the cuts in 2011 and 2012."

    Those cuts are estimated at around € 8-9 bn.