Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Problem, as I understand the matter, is Greece has a structural Import imbalance.  Oil is a Biggie, according to this:

The main imported commodities are machinery, transport equipment, fuels and chemicals.

Oil imports are, roughly, 497,000 bbl/day at (call it) $115 per barrel or ~$57 million (43 million euros) which equals 17 billion euros/year which is a huge chunk (~27%) of the estimated import total of 45.36 billion/euros per year.

The transport sector consumed 46% of Greece's total oil demand in 2008 or, roughly €20.9 billion/year.

This illustrates Troika insanity of destroying public mass transportation.  Instead Greece should create a crash program to increase non-oil using public transportation,e.g., electric trams.  I note this would help the Greek economy by providing jobs for the infrastructure build, jobs to run the things, and - since trams are mature tech - building the trams in Greece could be done and should be done.  With a bit of intelligent design and planning the tram lines could also serve as light cargo transporters within the urban areas.  By building these systems in the ten largest Greek city roughly 5 million people, out of a total population of ~13 million, would be served.  

The adverse impacts on existing businesses, e.g., car dealerships, would need to be studied and a way to alleviate them would need to be added.    

Now, if these idea was coupled with ARGeezer's idea of a New Drachma capital for the project could be raised at a minimum cost.  Government could pay domestic cost(s) in New Drachma and sink the monies through taxation at all levels of government.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Tue May 1st, 2012 at 03:58:26 PM EST
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