The writer is deputy department director at OFCE Sciences Po, Paris.
Negotiations between the country, its creditors are about politics, not economics.
Private spending will resume when expectations on the future change, when the economy resumes growth.
In Greece, investment is just 35 per cent of what it was in 2007, and austerity has seriously affected the quality of education and healthcare.
Author of bestselling novels such as The Rozabal Line, Chanakya’s Chant and The Krishna Key, Ashwin Sanghi is known for delving into history and mythology.