Gordian

Biden should cut the Gordian Knot with Turkey

The financial state of the country's biggest company, Public Power Corporation (PPC), is anything but inexplicable. It would suffice for one to follow the thread of decisions that were taken, starting in 2015 - decisions based on dogmatism that prevented PPC from raising revenues from the sale of assets and becoming more competitive - to explain today's Gordian knot.

Archaeologists have discovered the ruins of a large town from the time of the Roman Empire hypothesizing that it might be the Ancient Thracian and Roman settlement of Scaptopara, the predecessor of today's city of Blagoevgrad in Southwest Bulgaria, whose name is known from a stone inscription of a petition by the locals to Roman Emperor Gordian III.

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The fact that the International Monetary Fund and the European Central Bank reached a compromise on the issue of Greek lenders is an extremely positive development.

Nonperforming loans extended to businesses have become a Gordian knot that must be severed, and as soon as possible.

The Greek banking system is burdened with dozens of zombie companies that have been allowed to stumble along over the past few years doing nothing but sucking on what little lifeblood there is left in the market.