There is a great deal of discussion lately in Greece about the need to reduce labor costs (i.e., salaries) in the private sector in order to increase Greece’s competitiveness. The theory is that by reducing their labor costs Greek companies will be able to deliver cheaper products and services, thus become more competitive, increase...
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Economic crisis
When you pay peanuts, you get monkeys
Is feta cheese killing my margins?
Probably not – but its price may be. Following up on my previous post on costs, it may be worthwhile to focus on Greece and the specific challenges faced by local companies. With 73 Small-Medium Enterprises (SMEs) per 1000 inhabitants, far exceeding the European Union norm, Greece has a dominant SME segment . This...
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Doing business in a bankrupt state
There’s a lot of debate and – perhaps justifiably – a lot of desperation in the private business sector about the fortunes of the Greek economy. Regardless of each one’s political and emotional views on the matter, I think we will all be better off if we spend less time hoping that the government...
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