Michael Massourakis

Email: mmassourakis@alpha.gr

Michael MassourakisMichael Massourakis, PhD is the Chief Economist of Alpha Bank, one of the major Greek banks. Prior to joining it in 1996, he had worked for ten years in the Greek Council of Economic Advisors. He had also served as a board member in the Greek Capital Markets Commission. He is currently an executive committee member of the Institute of Economic and Industrial Research, a think-tank based in Athens.

Papers Published in World Economics:

Greece and the State

Pervasive state intervention in Greece has mired the economy with large-scale inefficiencies and an uneven playing field, protecting insiders and rent-seekers to the detriment of its underlying growth potential, with the political class at the same time failing miserably to address the aspirations of the people. Fiscal consolidation and structural reform, currently pursued under the EU–IMF stabilisation programme, if vigorously implemented, are expected to strengthen the Greek economy and to contribute towards the withering away of the Greek state in its present form. The Greeks are resourceful people and will not capitulate in the face of a daunting adjustment, which may prove easier than generally expected if structural weaknesses are adequately and swiftly addressed. Greece’s future lies with rebalancing the economy towards net exports, with tourism and real estate being the primary development motors.

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