Greeks Too Western to Pull Off Baltic Rebound, SEB Banker Says
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Greece is too used to western living standards to endure the austerity needed to emulate the success of the Baltic region’s rebound, said the head of Estonia at SEB AB, the second-largest bank in the three former Soviet states.
“In Greece, they have lived for at least two generations over their running ability to keep up the social welfare,” Riho Unt, the chief executive of SEB Pank AS, said in an interview in Tallinn yesterday. “They don’t have a reference point and then it is really much more difficult to adjust your behavior.”