As with everything in the greek economy the problem is lack of competition. There's too much coordination in price increases, and too little investment from those companies. They all share the basic infrastructure that is set by OTE SA (the old state-owned telecommunications company)
Same goes for banking, which is exorbitantly expensive and anticompetitive (aided by state laws that make banking services mandatory for businesses).
Unless the economy opens up to foreign compeition which will drive prices down and services up, it will remain a soviet-like small state
Unfortunately, all relevant watchdogs are unable or unwilling to ensure the proper functioning of the market, which is free only on paper for some key industries (banking, internet/mobile services, supermarkets, ferries, energy, etc.).
Comments
As with everything in the greek economy the problem is lack of competition. There's too much coordination in price increases, and too little investment from those companies. They all share the basic infrastructure that is set by OTE SA (the old state-owned telecommunications company)
Same goes for banking, which is exorbitantly expensive and anticompetitive (aided by state laws that make banking services mandatory for businesses).
Unless the economy opens up to foreign compeition which will drive prices down and services up, it will remain a soviet-like small state
Yes, lack of true competition is a big problem.
Unfortunately, all relevant watchdogs are unable or unwilling to ensure the proper functioning of the market, which is free only on paper for some key industries (banking, internet/mobile services, supermarkets, ferries, energy, etc.).