Show paragraph

The World Bank business ratings were neutered a while ago when the ILO pressured them to remove details on labor regulations, which are probably the worst part of European malaise.



The Heritage Index of Economic Freedom scores Greece at 54.0, making its economy the 130th freest in the 2015 Index. Greece is ranked 40th out of 43 countries in the Europe region, and its overall score is below the world and regional averages. Since 2011, Greece’s economic freedom has declined by 6.3 points, with scores falling in seven of the 10 measured categories. Once ranked in the “moderately free” category, Greece is now considered “mostly unfree.” With the 10th largest score decline in the 2015 Index, Greece has recorded its lowest economic freedom score ever this year.



The one significant European economy that has low unemployment is Germany, which had the Hartz labor reforms in the early 2000's, dropping its unemployment rate from 10% to below 5%.



Greece needs a Margaret Thatcher or Ronald Reagan that proudly espouses free market capitalism and makes it happen, instead of technocrats who openly espouse socialism (and name their kids after Che Guevara!)