Greek Economy on Long Recovery from Crisis to Sustainability

In a remarkable turnaround, Greece has emerged from the depths of a devastating debt crisis to become a symbol of renewed economic vigor. Once plagued by double-digit unemployment, surging treasury bond yields, and plummeting asset prices, the country has resurfaced as a catalyst for European stability.

The path to resurgence was paved by the country's shift toward common-sense economic policies, spearheaded by the New Democracy party. Pragmatic reforms, such as digitalization of government services, have rekindled investor and citizen confidence alike.

The influx of high-profile investments, particularly in the energy and IT sectors, has played a pivotal role in Greece's recovery. Cisco's digitization program, Microsoft's data center, and a surge in renewable energy investments have positioned the country as a regional economic hub.

As a result of these measures, major rating agencies have raised Greece's debt grade, leading to reduced borrowing costs in international capital markets. Benchmark 10-year Treasury bond yields have plunged from 15.5% in 2015 to 3.40%, and equity markets have responded positively, with the Global X FTSE Greece 20 ETF outperforming the DAX Global X fund by a substantial margin.

Greece's economic rebirth is the result of harnessing economic wisdom, promoting stability, and attracting global investment. Economists are hopeful the journey to recovery will continue, with many urging Greek authorities to learn from the lessons of the past and concentrate on policy stability and attracting investment.