Greece And Economic Freedom

Greece is reportedly seeking to open her economy to more competition.

This from the Wall Street Journal Blog

Ms. Daimantopoulou, like other Greek ministers, is trying to figure out how to open up one of Europe’s most closed economies. State-owned universities can’t even hire foreign professors, she said, a practice she was trying to change.

She said Greece became more and more inward looking over the past 50 years because of the Cold War and the years of dictatorship. The economic collapse, and the rescue loans by the International Monetary Fund and European Union, make liberalizing the economy a requirement.

“Before, competition was always undermined,” she said. “We need healthy competition.”

Yes, they indeed need more economic freedom.