DerSpiegel – Anne Seith – ‘A Toxic System’: Why Austerity Still Isn’t Working In Greece – 9 July 2013 drastic austerity measures, a new Greek debt haircut looks unavoidable. The old system has proven resistant to reform and billions in emergency aid hasn’t been enough to turn things around.

After making a lot of money manufacturing swimming pools, Stelios Stavridis has redirected his entrepreneurial talents toward saving his country.

The 66-year-old Greek business executive with aristocratic features recently became the head of the country’s privatization agency, which has been charged with selling off hundreds of government-owned real estate, companies, marinas and airports.

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