Thursday, June 21, 2012

Greece needs technological help to reboot economy

TO REBOOT the Greek economy, first check the system hardware is up to date. The parliament and civil service of the "pro-Euro" government that could be formed this week needs an overhaul of its technology if it is to have any chance of transforming the country's fortunes.

"What Greece needs is significant support, not just financial, but technical," says Vassilis Monastiriotis, an economist at the London School of Economics' Hellenic Observatory. "We still don't have computerisation for systems such as tax collection."

Greece needs a technological and organisational "big bang" to computerise and connect all 14 ministries so they can begin recording data and statistics. Monastiriotis says the Organisation for Economic Co-operation and Development warned last year that without such a boost, the government would be powerless to transform Greece into the modern state demanded by its creditors.

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