“Covid is a shock to the Greek economy. The economic impact of the coronavirus pandemic has reawakened painful memories of the last crisis in Greece. But unlike its predecessor, the Covid-19 challenge is a transitory shock. This pandemic will go away. It is not a structural crisis as emerged in 2010. As difficult as it may be for the country to pass through this episode, Greece will get to the other side of the bridge.
Once there, it can continue rebuilding the economy and begin, slowly and gradually, to amortize the additional debt that was issued to bridge private households and business firms through the days of reduced economic activity.”
From an article by Jens Bastian and Bob Traa in Macropolis.
You can find the article, in English, here
