Hostage to easy business

The disinclination of many Greek businesses to exploit the financing tools that would allow them to expand and shift up a gear is a reflection of a structural weakness in the economy.

Most businesspeople in Greece prefer to stick to the mom-and-pop model that can be controlled easily – and can evade taxes easily too – but never grows, never generates more jobs and never innovates.

If this culture does not change, neither will the direction of the Greek economy.