Mr. Notis Mitarachi was a guest at CNBC news, live from Athens.
Mr. Mitarchi stresses out that austerity measures will not solve the problem neither for Greece nor the European Union. Development is the one way out.
"Greece today is fiscally uncompetitive, with a tax system, which is really subjective and unstable", and he mentioned that his country "needs to balance its budget".
Balances restart the economy.
Moreover the Alternate Head of Economic policy of Nea Demokratia (Main Opposition),given the fact that numbers are going to the wrong direction, supports that the government should renegotiate the program. He continued : Greece is a country, equal member-state of the European family, it is not a corporate.
As far as the merge of two Greek banks is concerned, Mr. Mitarachi, estimated that the Greek banking system will benefit from further strengthening, and he moved on,
"It is critical to increase liquidity in the real economy. Imagine what would happen in the real economy when there is no private spending, no government spending no direct foreign investments. Everything is closing down"
