I'd say not under present conditions.
Originally Posted by polgara
Greece exports 1/3 less than what regular international trade patterns would predict on basis of Greek GDP, the size of its trading partners and geographical distance. This ranks Greece at the 31st position out of 39 export countries in the competitiveness ranking we construct based on our regressions. The most affected sectors include electrical equipment and machinery. [W]eak institutional quality
accounts for a large part of this shortfall.
We estimate that structural reforms improving the Greek institutional framework to the EU/OECD average level would close between ½ and ¾ of the Greek export gap. These findings suggest that, while Greece has already achieved major improvements in cost competitiveness since the start of the Greek adjustment programme, structural reforms must also address non-cost competitiveness factors, such as the underlying institutional deficits
, to unlock Greece's export growth potential. — "The Puzzle of the Missing Greek Exports
" European Commission
, Economic Papers 518, June 2014
And may end up being glad they did.
Originally Posted by Jack Hays