kathimerini.gr
Greece Lags in Reforms, Institutions, and Competitiveness
The KEPE's 2024 productivity report reveals Greece's significant underperformance in reforms and institutions, ranking below 20th among EU27 in most IMD competitiveness indicators and facing challenges in FDI, judicial efficiency, and talent shortages, impacting its overall economic standing.
- How does Greece's judicial system's inefficiency and low FDI contribute to its overall economic competitiveness?
- Greece's low ranking reflects systemic weaknesses. Its judicial system, the worst performing in the EU in 2023 according to the World Justice Project, suffers from lengthy procedures averaging 2100 days for competition cases, compared to 1500 days in the EU27. This inefficiency, coupled with a shortage of skilled talent (82%, highest in EU27 alongside Germany), hinders economic growth.
- What specific reforms are needed in education and the judicial system to improve Greece's long-term economic prospects?
- These issues point toward a need for comprehensive reforms. Addressing judicial delays through technological upgrades and process optimization is crucial. Simultaneously, educational reforms are needed to bridge the talent gap, improving competitiveness and attracting further foreign investment. The current trajectory suggests continued economic underperformance unless substantial improvements are made.
- What are the most significant factors hindering Greece's economic performance as highlighted in the KEPE productivity report?
- The 2024 KEPE productivity report reveals Greece's lagging performance in reforms and institutions, significantly impacting its economic standing. Greece ranks below 20th among EU27 nations in most IMD competitiveness indicators, including economic, governmental, and digital competitiveness. Foreign direct investment dropped to €5.43 billion in 2023 from €8.44 billion in 2022, and further decline is expected.
Cognitive Concepts
Framing Bias
The framing of the article is predominantly negative, focusing on shortcomings in Greece's economic performance. The headline (if there was one) would likely emphasize the negative findings of the report. The use of words like "anxious," "underperformance," and "worsened" sets a negative tone from the beginning.
Language Bias
The article uses language that leans towards negativity. For instance, describing Greece's performance as "anxious" and "worrying" is subjective and emotive. More neutral alternatives could include "concerning" or "suboptimal." The phrase "a large part of investments is directed towards real estate, which is not a productive sector" is also a loaded statement; a more balanced perspective might discuss the long-term economic impact of real estate investment.
Bias by Omission
The article focuses on negative aspects of Greece's economic performance and doesn't include any positive developments or counterarguments. While it cites sources like the IMD and World Justice Project, it omits other potential perspectives or data that could offer a more balanced view. For example, information on government initiatives aimed at improving infrastructure, digital competitiveness, or judicial efficiency is missing.
False Dichotomy
The article doesn't present a false dichotomy, but it could benefit from acknowledging the complexities of the issues discussed. For example, the statement that "a large part of investments is directed towards real estate, which is not a productive sector" oversimplifies the role of real estate in the economy.
Sustainable Development Goals
The report highlights Greece's low ranking in various competitiveness indicators (economic, governmental, infrastructure, and digital), hindering economic growth and creating challenges for decent work opportunities. Low foreign direct investment and issues within the justice system further exacerbate these challenges. The significant skills gap, linked to the education system, also limits economic potential and decent work prospects.