Opposition Leader Claims Two Years of Economic Gains Lost Due to Far-Left Government

While the leader of the country’s main opposition party called for snap elections, he also said that the leftist Syriza government has set Greece’s economy back two years.

“We are ready to win the election and we are ready to govern,” Kyriakos Mitsotakis, the leader of the conservative New Democracy party, said in Athens.

Succeeded by firebrand Alexis Tsipras of the Syriza party in September last year, the New Democracy was Greece’s ruling party for three years under Prime Minister Antonis Samaras.

“We have to point out that Greece, back in 2014, was actually in the process of coming out of a very steep recession. As a result of the policies of the current government, we basically lost two years. We have had a recession in 2015, a recession in 2016 and we hope that we will have a mild recovery in 2017,” Mitsotakis told CNBC on Thursday.

The Greek economy is anticipated to be shrinking this year by 0.3 percent according to the European Commission. Before posting narrow growth in 2014 and shrinking 0.2 percent in 2015, the Greek economy has shrunk each year on an annual basis between 2008 and 2013.

“The problem is that this government is implementing the wrong policies; is implementing the wrong fiscal mix; is overtaxing the productive economy and has not engaged in meaningful structural reforms that will attract foreign investment. So as much as I would like to believe that the economy is going to recover I have serious doubts that it will happen with these types of policies,” Mitsotakis told the media.

Mitsotakis succeeded Samaras as party leader in January. Mitsotakis had served as Minister of Administrative Reform and E-Governance under Samaras.

As polls steadily show New Democracy with a lead over Syriza, if a snap election were called, Mitsotakis might be in a good position to become Greece’s next prime minister. However, the vote need not be held until 2019.

“I believe we have the full capacity to win this election — that is at least that is what our polls indicate — and should this happen, Greece will have a competent, pro-reform government and I think this government will be in a position to attract foreign investment and will be in a position to implement policies that would deliver the true growth potential of the economy,” Mitsotakis told the media.

Mitsotakis is from a political family and honed his free market credentials McKinsey in London, at Harvard Business School and Chase Manhattan Bank. His sister, Dora Bakoyannis, is a New Democracy politician and he is the son of former Prime Minister Konstantinos Mitsotakis.

“I cannot force an election but I am fundamentally optimistic about the medium-to-long term prospects of this country,” Mitsotakis concluded.

(Adapted from CNBC)



Categories: Economy & Finance, Geopolitics

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