Latest News:  
Beijing   Sunny/Overcast    28 / 16 ℃  City Forecast


Greece needs growth vision: Austrian economist


10:25, May 26, 2012

VIENNA, May 25 (Xinhua) -- Greece needs a growth vision and an acceleration of available programs in order to be able to focus on investment, said a renowned Austrian economist Friday.

In an interview with the Austrian broadcasting radio ORF, Karl Aiginger, director of the Austrian Institute of Economic Research (WIFO), said it was important for Greece to "accelerate" the previously available programs and "pick up" the available money.

"If Greece has a program, we will also help them. It would make sense if Greece opens 220,000 companies and we can help them," he said, adding that the reduction of youth unemployment should be given priority.

The willingness to stimulate growth, new production and new services will make "the decline of economic performance to be lower and young people will see that they have a chance," he said.

The general aim was to develop growth programs, which cost relatively little, he said. But, of course, a shift of the tax system and the administration in Greece is needed, he added.

Aiginger also stressed that, compared to euro bonds or new money, the breakdown of Greek economy is "the most expensive solution." He described the discussion on euro bonds as "useful," which aims to "change the country's economy fundamentally within five years."


Leave your comment0 comments

  1. Name


Selections for you

  1. China's naval escort fleet conducts drill

  2. Magnificent Xigou Great Wall

  3. Fifth Hangzhou Art Fair kicks off

  4. Flower wall made of over 40,000 roses

Most Popular


  1. Much-needed cooling awaits China
  2. Why is Washington so scared of Confucius?
  3. Chance to peacefuly resolve Iranian nuclear issue
  4. What is the US' aim behind arms sales to Taiwan?
  5. Investment-driven growth no longer a viable option
  6. Summit can't stop NATO from being marginalized
  7. Easing liquidity not a cure-all
  8. As Beijing remains mum, trade relationships suffer
  9. Intentions behind Japanese right-wingers’ collusion with ‘World Uyghur Congress’
  10. Real intentions of US exercise in Middle East

What's happening in China

First food festival held on train

  1. Solar firms rally against US antidumping probe
  2. Confucius Institute to promote Chinese food
  3. Illegal Vietnamese workers found in Anhui
  4. Parents protest school policy in Beijing
  5. Home prices to dip, but tumble unlikely

China Features

  1. High ticket prices, unaffordable landscapes
  2. Huangyan tensions
  3. 2012 Russia-China joint naval exercise
  4. 2nd Beijing International Film Festival
  5. Auto China 2012

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai