INSIGHT: Greece—On the Road to Recovery?

After the financial crisis, is there now a more positive outlook for the Greek economy? Nikolaos Theodorou, Attorney-at-Law, comments on the recent developments in tax and investment law introduced by the new Greek government and intended to boost the economy by facilitating foreign direct investment.

Through the past decade, Greece has undergone a deep economic crisis, resulting in significant budget cuts, a sharp decrease in its gross domestic product (GDP), high unemployment rates and limited foreign investment. Through structural reform programs instigated by the International Monetary Fund (IMF) and the EU, the country has profoundly reviewed the fundamental parameters of its economic policy, labor regulation and tax legislation.

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