They should remain vigilant. Greece needs a new growth paradigm based on extroversion and innovation as major drivers of productivity and sustainable economic growth. Let me at this point draw a parallel between my country and our host country today, Israel, another small, open economy.
It is known that during the period of 1973–1985, Israel had a chronic high inflation, fiscal and external imbalances, indexed contracts, etc. and an exorbitant public debt of almost 300% of GDP, which has now been reduced to a record low of 64.8%.