“We were the last Soviet country in Europe”

European Union membership “was a big opportunity for development, and we wasted it,” explained Dimitris Bourantas, a professor of management at Athens University. “We also did not take advantage of the markets of the [formerly] socialist countries around Greece. And we also did not take advantage of the growth of the global economy. We lost them all because the political system was focused on growing public administration — not on [fostering] entrepreneurship, competition or industrial strategy or competitive advantages. We created a state with big inefficiencies, corruption and a very large bureaucracy. We were the last Soviet country in Europe.” [bron]

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