Philip Ammerman, Managing Partner of Navigator Consulting Group, was interviewed on Channel 4 News with Jon Snow and Dr. Evi Christophyllopoulou, PASOK MP.
Greece held its second Parliamentary elections today amidst growing fear of political instability and a rejection of the Eurozone-led bail-out programme. The election has become something of a cliff-hanger, as the second largest party, SYRIZA, has announced its plan to cancel the structural adjustment and austerity commitments made by Greece as a condition for the bail-out.
The Greek public sector has been particularly hard-hit by the crisis. Credit has dried up, making investments in Greece, or the financing of exports or imports, difficult. There have been a record number of business closures. Most company have been forced to lay off staff: unemployment has reached 23% at an annualise rate in the last quarter.
In this environment, it is important that a national government be formed which can adjust the terms of the bail-out where necessary and return the country of a growth path.
View the complete interview here: