The Economic Freedom Of Greece And Russia

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In a business world that is ever changing, looking at Greece and Russia from where they have been and where they are now, is startling. Each country has had many ups and downs over the years through wars, economic downturns and many other strife’s, and currently are in an uphill battle. The struggle is real to stay afloat in an unknown business world. As each countries business climate is different, some characteristics of each are the same. Many business opportunities are available to those who wish to do business in either country, but some would wonder would they really want too, based on their current financial woes. CURRENT GREECE BUSINESS WORLD Greece’s economy ranks 130th freest in the 2015 index and a score of 54.0 in economic…show more content…
Greece’s overall speed to create regulatory reform is lagging behind other countries. With a very minimal amount of capital required for a business to be launched, it takes five procedures and minimum of 13 days. It takes about four months on average to complete business license requirements. This seems to be a very long time. Although Greece has made some reform efforts, their labor market remains inelastic and stagnant. Greece’s monetary stability is very weak, and they have been receiving a great amount of subsidies from the European Union ("Greece Economy: Population, Facts, GDP, Unemployment, Trade, Corruption," 2015). CURRENT RUSSIAN BUSINESS WORLD Russia’s economy is ranked 143rd freest in the 2015 index and has an economic score of 52.1. Russia has had gains in business freedom, freedom from corruption, property rights, government spending and a labor freedom that has been offset by declines in monetary freedom. In the Europe region, Russia is ranked 41st out of 43 countries, and its overall score is below the world average. Although Russia has had an increase in political and economic isolation, coupled with falling gas prices, its economic freedom score has increased by 1.6 points since 2011. A better outlook than what Greece has in their score. The declines in financial freedom and property rights have been the cause for the lack of overall progress
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