Greece’s reform labors are only half complete

A Greek flag flutters as people visit a beach in Athens, April 28, 2020. [Goran Tomasevic/Reuters]

Hercules famously completed 12 labors. Today's Greece resembles the mythological hero when he was halfway through his tasks. The country has done a lot of work to rebuild itself after its debt crisis, but still needs to finish the job.

Greece's large current account deficit and domestic corruption undermine its attraction as an investment destination. But it's far from clear that Kyriakos Mitsotakis will do what's needed to boost savings and improve the rule of law if re-elected as prime minister.

Greece is no longer the problem child of the euro zone which a decade ago threatened to bring the single currency crashing. Investors are enthusiastic about the prospect of Mitsotakis' center-right New Democracy party winning an overall majority in the second round of elections, due to be held on June 25. Ten-year Greek government bonds yield just 3.7% , only 1.4 percentage...

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