You Greeks, in order to stand a chance, should begin by throwing out the statist/communist Basel Accord bank regulations.

Sir, I refer to Mohamed El-Erian’s “Missteps and miscalculations that could cost Greece the euro” March 26.

In it El-Erian decribes the challenges for Greece as “restoring economic dynamism, jobs and financial viability” and as tools to achieve those goals “three policy changes that many economists agree on: reducing excessive austerity, revamping structural reforms to unleash broader economic dynamism, and removing crippling debt overhangs that undermine existing productive activities and discourage the stimulus that comes with new investments.”

And I repeat, for the umpteenth time. You cannot restore dynamism, jobs and financial viability in Greece or in any country with bank regulations that, for the purpose of setting the equity requirement for banks, indicates the risk-weight of central governments to be zero, while the risk-weight of an SME or an entrepreneur is set at 100 percent.

Anyone who thinks that one Euro lent by a bank to Greece’s government will produce a sturdier economic growth, than a Euro lent to a Greek SME or a Greek entrepreneur… is a statist, a communist or most probably both.

Greeks (and all you other citizens) if you want your young ones to have a chance to get a good job in the future, you’ve got to urgently get rid of all statist/communist Basel Accord bank regulations.

@PerKurowski