Quotation Aiginger, Karl, Bayer, Kurt. 2015. A new start for Greece and Europe! Österreichische Gesellschaft für Europapolitik 25, 1-6.




The six months negotiations with Greece can mark a turning point in the way Europe deals with its weaker members, requiring concessions from both sides. Greece will need additional funds to be able to repay its immediate excessive debt burdens. Several additional sources need to be tapped: repatriation and taxation of Greek assets abroad; taxing wealthy institutions within Greece, so far exempt; improving administrative procedures; appealing to Greek expats abroad, and so on. These funds need to be used to strengthen the Greek economy, enable innovation, start-ups and expand higher-value products and services which can also be exported. Up to now Greece has not tapped its very high potential of solar and wind energy with a view to reduce its 16 bn € fossil fuel import bill, has not created an investment-friendly climate and business conditions. Reversing will increase the low export share, will create employment and give hope for the future to unemployed youths. Similarly, all of Europe needs an investment strategy, promoting innovation, education and the greening of the economy. The economic stagnation since the beginning of the crisis needs to be overcome by investing into the future, into a socio-ecological-economic transition. The direction of economic policy in the EU must prioritize future investment, target employment and distribution and improve and safeguard social cohesion and ecological viability. A spirit of togetherness must be created without tactical games, threats and blackmailing, in order to tackle the difficult economic and political conditions.


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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Österreichische Gesellschaft für Europapolitik
Language English
Title A new start for Greece and Europe!
Volume 25
Year 2015
Page from 1
Page to 6
URL http://oegfe.at/wordpress/wp-content/uploads/2015/07/OEGfE_Policy_Brief-2015.25.pdf
DOI na


Aiginger, Karl (Details)
Bayer, Kurt (WIFO, Austria)
Department of Economics DP (Details)
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