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Victoria Mindova

Low flat rate and free state structure to benefit the business are the two conditions which Steve Forbes believes are needed to change the Greek economy from dying to thriving. "Flat tax rates unleash business opportunities that you do not think even exist". When there are no barriers to entrepreneurship, then there is no limit to the opportunities a businessman is able to develop. Steve Forbes gave as example success stories of real people from the American reality today like the founder of Apples Steve Jobs, who has been abandoned by his biological parents, but this did not prevent him from fulfilling his dreams and change the world. The same applies to Bill Gates, who may not have been an orphan, but was an ordinary child from a middle-class family.

With those examples of the modern American reality the publisher wanted to prove his thesis of the need for a change in the course of local politics. If all bureaucratic difficulties and burdensome administrative procedures the business is facing are removed and a flat tax rate is imposed, competitive with that in Greece’s neighbouring countries, a whole new world of possibilities would open. Moreover, he said that failures on the road to success are inevitable obstacle. Steve Jobs almost lost everything of his culture in a moment, but he learned from his mistakes and now has one of the most successful companies in the world, Forbes said.

"In the case of Greece, everything can change. The culture of a nation could be changed if the leaders require such changes." Moreover, it is not necessary to invent something new to succeed. In many cases, more creative people could be able to find a better or more practical application of inventions that already exist. However, it all needs initiative and free spirit, which could be stimulated by the environment itself. If you change the environment and impose a flat tax rate the initiative would come alone," said Forbes, and then the forces that would fight corruption and would require greater transparency in the ruling of the state should be formed. "The flat tax rate is not just economics, but it allows leaders to grow."

"Capital goes where it is treated best," said the Chairman, CEO and co-discoverer of Calamos Investments, John Calamos. He is an American of Greek origin and the international investment fund headed by him manages about $ 40 billion each year. "Take the bureaucracy out of decision-making. Free the business," called John Calamos. Unfortunately, there was no representative of the Greek government to take his advice. The investment expert said that Greece would not get away without debt restructuring, but it would not be enough. If the state structure is not reformed the country would end up in the same situation again after three to four years. Investment would come, said the expert, when the return is certain.

Similar was the comment of Stephen Cucchiaro from Windhaven Investment Management, Inc, who said: "Investors hate uncertainty, and we must now admit that there are many uncertainties here. The press and public attention are turned to the issues of foreign debt and cash flows, but nevertheless today is the time when investors should pay attention to Greece because the best investment opportunities come in the most pessimistic times." He stressed that investors do not need to see concrete results. It is enough to them to understand that the situation would not get any worse and that a program to emerge from the crisis is being prepared.

Apparently, however, the worst is yet to come, because Nick Lazaris, CEO of Admirals Bank (Boston, USA) compared the current state of the Greek government with that of Lehman Brothers before the collapse in 2008. "Greece is like Lehman Brothers before the collapse. Every man was for himself there, and unfortunately, this is seen in Greece now." He explained that, like Greece, the management of Lehman Brothers has stubbornly refused to recognize and cope with the problems in the company a year before the collapse of the financial system. Although the inglorious end was apparent to all in the close internal management, the leaders of the financial institution did not find the strength and will to carry out the necessary cuts and reforms. The collapse was not prevented due to inaction and denial of problems. "Finally, it all comes to determining the role of everyone in the system and how it could be improved. There is no way Greece to get better unless this happens." According to Lazaris, the major problem for both Lehman Brothers and Greece is that both systems have built their existence on the suppression of someone else. Such systems do not have particularly great chance to survive. He also agrees with Forbes’ view that taxes should be reduced, but the activity of the country should be improved at the same time. "We need to end corruption, subversion. Transparency and justice are needed," said the businessman.

The Minister of Finance of Poland Krzysztof Walenczak spoke of one of the hardest processes the government of George Papandreou would face. "Privatization is a political process at the end of which there may not even be positive effects if you do not perform it properly and it might make a lot of enemies. Those will be trade unions, unemployed people, political opposition and many others."

He warned that privatization is a political process at the end of which there may not even be positive effects and it might make a lot of enemies. Those will be trade unions, unemployed people, political opposition and many others. "If you take privatization only as an economic process, it is likely to lose." You should take into account not only the revenues from it, but the strategic investors that it would attract.