by Rumen Galabinov – economist
The reasons for the problems in Greece are similar to the problems we see in Bulgaria.
- Greece has not taken any measures for economic reform; did not restructure its economy in time and did not take measures to combat smuggling and tax evasion, all things that we see in Bulgaria.
- Bulgaria and Greece are lagging behind in the fight against corruption and abuse of European Union funds, only the scale is different, however, here and there, theft still remains.
- In recent years, Greece has continued to constantly take loans from the international markets and use them for public spending, similarly to Bulgaria.
- Greece has not taken measures to cut its bloated public administration and has not made steps to limit the waste of public funds, as it is in Bulgaria.
A bankruptcy of Greece will affect negatively Bulgaria as well, due to a decline in foreign direct investment that will delay our economic growth. We have a unique chance to learn from the mistakes of Greece because it is better to learn from the mistakes of others rather than our own.
This post is also available in: Bulgarian