{"id":5656,"date":"2015-07-14T23:00:00","date_gmt":"2015-07-14T21:00:00","guid":{"rendered":"http:\/\/pmr-restrukturyzacje.local\/pmr\/kryzys-grecji-lekcja-dla-biznesu\/"},"modified":"2025-01-25T16:58:27","modified_gmt":"2025-01-25T16:58:27","slug":"greece-crisis-lesson-for-business","status":"publish","type":"post","link":"https:\/\/pmr-restrukturyzacje.pl\/en\/greece-crisis-lesson-for-business\/","title":{"rendered":"Greece's crisis a lesson for business"},"content":{"rendered":"

Greece's financial problems in microeconomics can be related to the everyday life of companies in Poland and around the world. Every country, like a large enterprise, has revenues and costs and obligations towards employees or citizens in the form of social benefits. Companies and states operate in specific macro- and microeconomic conditions that strongly influence the condition of markets and their individual participants. Moreover, both commercial organizations and countries pursue specific goals, are led by their leaders, and various interest groups operate within them. Comparing Greece to a corporation broadens the horizons of thinking about management and recovery from the crisis. This is a classic case study and a good lesson for entrepreneurs.<\/p>\n

Support in a crisis<\/b>
\nIn order to effectively get the debtor out of the crisis, regardless of whether it is a country, a city or a family business, three elements are needed - a legal formula, a restructuring concept and a financing plan. The legal formula was defined in the agreement between Greece and the EU. The concept of changes is imposed by the conditions dictated by Euroland, and financing within the alliance was undertaken by Greece's creditors, i.e. the European Union, the European Central Bank and the International Monetary Fund. This is a classic arrangement procedure, in which the debtor is given a deferral of debt repayment<\/a>, and even co-finances, counting on the possibility of a return on investment in the future. The security for the receivables will be the property assets of Greece, worth a total of EUR 50 billion, including banks, state-owned companies, companies from the energy sector, and even infrastructure elements such as airports and monuments. According to the Greek rescue plan, the profit from privatization will be allocated to debt repayment, economic investments and the recapitalization of banks. Despite the fact that it is a state, the restructuring model is very similar to the rescue companies before bankruptcy<\/a>.<\/p>\n

Time is always money<\/b>
\nCompanies that go bankrupt are in most cases victims of the mantra "it'll work out somehow". Unfortunately, the human mentality suggests waiting until the critical moment, and only then, when it comes, to consider the possibility of getting out of the crisis. This is the most common mistake, and Greece made it too. The country's authorities had known for a long time about the deepening deficit of the state budget, and yet they turned to the EU only shortly before the scheduled repayment date of the next tranche of the loan. The limited time makes it difficult to develop a solid restructuring plan, introduces pressure to make a decision and significantly reduces the debtor's credibility. Creditors, including banks and even the International Monetary Fund, are more likely to agree to conciliatory solutions that ensure full repayment, even if deferred. It is worth remembering that the creditor always wants to recover as much of the debt as possible, hence the popularity of stand-still agreements or composition proceedings, which show that with the good will of the parties, a partnership approach and trust, it is always possible come to terms<\/a>.<\/p>\n

Replacement costs<\/b>
\nNo repair, and even less restructuring, will take place without openness to change. What is causing much controversy in Greece, but also among other Europeans, is the cost of reforms. On the one hand, Greece wants to break away from the "policy of austerity", on the other, other countries accuse the Greeks of living beyond their means, at the expense of the EU, which in the event of a crisis grants further loans.<\/p>\n

As usual, the truth lies somewhere in the middle, but going back to the business analogy - change always affects people - employees. It could be downsizing, reducing salaries or cutting non-wage benefits. Rescuing cash flow is always based on cutting costs and minimising expenditure. This gives a quick boost to the budget and does not require investment. A prerequisite is communication that will protect the process of change from a revolt by employees whose interest lies in defending their rights and salaries. The Greek government seems to have forgotten to consult the public and try to reach an agreement with its own citizens, which could trigger a wave of protests and the escalation of the conflict could even lead to the political and economic paralysis of the country.<\/p>\n

There is always a chance<\/b>
\nArgentina and Cyprus have already demonstrated effective recovery from the financial crisis in the past. And although they are not economic leaders in their regions, their success shows that it is possible to overcome the impasse, even on a national scale. Another good example is Poland, which at the turn of the 1990s was also in a catastrophic economic situation. However, decisive reforms and support from the Paris and London Clubs allowed us to get back on track and even develop. What I would advise the Greeks to do is to understand the exceptional situation and start looking at their country through the prism of national, and not just individual, interests. Greece may not turn out to be the phoenix of Europe in the coming years and will not match the GDP level of powers such as Germany or France, but it still has a chance to regain stability.<\/p>\n

The spectre of Greek bankruptcy is a costly and painful lesson in humility for other countries, not only in Euroland. The winners will be those who learn the lessons and do not repeat Greece's mistakes.<\/p>\n

The material appeared on the website:
\n<\/b>
\n16 July 2015:
\n\" Restructuring expert: Greece's crisis a lesson for business<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Problemy finansowe Grecji w uj\u0119ciu mikroekonomii mo\u017cna odnie\u015b\u0107 do codzienno\u015bci firm w Polsce i na \u015bwiecie. Ka\u017cdy kraj, podobnie jak du\u017ce przedsi\u0119biorstwo, ma przychody i koszty oraz obowi\u0105zki wobec pracownik\u00f3w lub obywateli w postaci \u015bwiadcze\u0144 spo\u0142ecznych. Firmy i pa\u0144stwa dzia\u0142aj\u0105 w okre\u015blonych warunkach makro- i mikroekonomicznych, kt\u00f3re silnie wp\u0142ywaj\u0105 na kondycj\u0119 rynk\u00f3w i ich pojedynczych uczestnik\u00f3w. Co wi\u0119cej, zar\u00f3wno komercyjne organizacje, jak i kraje realizuj\u0105 okre\u015blone cele, s\u0105 dowodzone przez swoich lider\u00f3w, a wewn\u0105trz dzia\u0142aj\u0105 r\u00f3\u017cne grupy interes\u00f3w. Por\u00f3wnanie Grecji do korporacji poszerza horyzonty my\u015blenia o zarz\u0105dzaniu i wychodzeniu z kryzysu. To klasyczne studium przypadku i dobra lekcja dla przedsi\u0119biorc\u00f3w. Wsparcie w kryzysie Aby skutecznie wyprowadzi\u0107 d\u0142u\u017cnika z kryzysu, bez wzgl\u0119du na to, czy jest on krajem, miastem czy rodzinnym biznesem, potrzeba trzech element\u00f3w – formu\u0142y prawnej, koncepcji restrukturyzacyjnej oraz planu finansowania. Formu\u0142\u0119 prawn\u0105 okre\u015blono w porozumieniu Grecji z UE. Koncepcj\u0119 zmian narzucaj\u0105 warunki podyktowane przez Euroland, a finansowania w ramach sojuszu podj\u0119li si\u0119 wierzyciele Grecji, czyli Unia Europejska, Europejski Bank Centralny i Mi\u0119dzynarodowy Fundusz Walutowy. To klasyczne post\u0119powanie uk\u0142adowe, w kt\u00f3rym d\u0142u\u017cnikowi odracza si\u0119 sp\u0142at\u0119 d\u0142ugu, a nawet dofinansowuje, licz\u0105c na mo\u017cliwo\u015b\u0107 zwrotu z inwestycji w przysz\u0142o\u015bci. Zabezpieczeniem wierzytelno\u015bci b\u0119d\u0105 aktywa maj\u0105tkowe Grecji, o \u0142\u0105cznej warto\u015bci 50 mld euro, a w\u015br\u00f3d nich np. banki, pa\u0144stwowe koncerny, firmy z sektora energetycznego, a nawet elementy infrastruktury tj. lotniska i zabytki. Wed\u0142ug planu ratowania Grecji, zysk z prywatyzacji zostanie przeznaczony na sp\u0142at\u0119 d\u0142ug\u00f3w, inwestycje gospodarcze i rekapitalizacj\u0119 bank\u00f3w. Pomimo tego, \u017ce jest to pa\u0144stwo, model restrukturyzacyjny jest bardzo podobny do ratowania firm przed upad\u0142o\u015bci\u0105. Czas to zawsze pieni\u0105dz Firmy, kt\u00f3re upadaj\u0105, s\u0105 w wi\u0119kszo\u015bci przypadk\u00f3w ofiarami mantry \u201ejako\u015b to b\u0119dzie\u201d. Niestety ludzka mentalno\u015b\u0107 podpowiada, aby czeka\u0107 do krytycznego momentu, a gdy nastanie, dopiero wtedy zastanawia\u0107 si\u0119 nad mo\u017cliwo\u015bci\u0105 wyj\u015bcia z kryzysu. To najcz\u0119stszy b\u0142\u0105d i Grecja te\u017c go pope\u0142ni\u0142a. W\u0142adze kraju ju\u017c dawno wiedzia\u0142y o pog\u0142\u0119biaj\u0105cym si\u0119 deficycie bud\u017cetu pa\u0144stwa, a mimo to zwr\u00f3ci\u0142y si\u0119 do UE dopiero na kr\u00f3tko przed wyznaczonym terminem sp\u0142aty kolejnej transzy kredytu. Ograniczony czas utrudnia opracowanie solidnego planu restrukturyzacji, wprowadza presj\u0119 podj\u0119cia decyzji oraz znacznie obni\u017ca wiarygodno\u015b\u0107 d\u0142u\u017cnika. Wierzyciele, w tym banki, a nawet Mi\u0119dzynarodowy Fundusz Walutowy pewniej przystaj\u0105 na koncyliacyjne rozwi\u0105zania, zapewniaj\u0105ce ca\u0142o\u015b\u0107 sp\u0142aty, nawet je\u015bli odroczonej w czasie. Warto pami\u0119ta\u0107, \u017ce wierzycielowi zawsze zale\u017cy na odzyskaniu jak najwi\u0119kszej cz\u0119\u015bci d\u0142ugi, st\u0105d popularno\u015b\u0107 um\u00f3w stand-still czy post\u0119powa\u0144 uk\u0142adowych, kt\u00f3re pokazuj\u0105, \u017ce przy dobrej woli stron, partnerskiemu podej\u015bciu i zaufaniu zawsze mo\u017cna doj\u015b\u0107 do porozumienia. Koszty zamian \u017badna naprawa, a tym bardziej restrukturyzacja nie odb\u0119dzie si\u0119 bez otwarto\u015bci na zmiany. To, co budzi wiele kontrowersji w Grecji, ale r\u00f3wnie\u017c w\u015br\u00f3d pozosta\u0142ych Europejczyk\u00f3w, to koszty refom. Z jednej strony Grecja chce zerwa\u0107 z \u201epolityk\u0105 zaciskania pasa\u201d, z drugiej inne kraje oskar\u017caj\u0105 Grek\u00f3w o \u017cycie ponad stan, na koszt UE, kt\u00f3ra w razie kryzysu udziela kolejnych po\u017cyczek. Jak zwykle prawda le\u017cy gdzie\u015b po \u015brodku, ale wracaj\u0105c do analogii z biznesem \u2013 zmiany zawsze dotykaj\u0105 ludzi \u2013 pracownik\u00f3w. Mo\u017ce to by\u0107 redukcja zatrudnienia, zmniejszenie wynagrodze\u0144 lub ci\u0119cia \u015bwiadcze\u0144 pozap\u0142acowych. Ratowanie p\u0142ynno\u015bci finansowej zawsze opiera si\u0119 na ograniczaniu koszt\u00f3w i minimalizowaniu wydatk\u00f3w. To daje szybki zastrzyk dla bud\u017cetu i nie wymaga inwestycji. Warunkiem koniecznym jest komunikacja, kt\u00f3ra uchroni proces zmian przed buntem pracownik\u00f3w, w kt\u00f3rych interesie le\u017cy obrona swoich praw i wynagrodze\u0144. Zdaje si\u0119, \u017ce rz\u0105d Grecji zapomnia\u0142 o konsultacjach spo\u0142ecznych i pr\u00f3bie nawi\u0105zania porozumienia z w\u0142asnymi obywatelami, co mo\u017ce wywo\u0142a\u0107 fal\u0119 protest\u00f3w, a eskalacja konfliktu mo\u017ce nawet doprowadzi\u0107 do parali\u017cu polityczno-gospodarczego kraju. Zawsze jest szansa Skuteczne wyj\u015bcie z kryzysu finansowego zademonstrowa\u0142y ju\u017c w przesz\u0142o\u015bci m.in. Argentyna i Cypr. I mimo, \u017ce nie s\u0105 to liderzy gospodarki w swoich regionach, ich sukces \u015bwiadczy o mo\u017cliwo\u015bci wyj\u015bcia z impasu, nawet w skali kraju. Dobrym przyk\u0142adem jest te\u017c Polska, kt\u00f3ra w momencie prze\u0142omu lat 90. te\u017c by\u0142a w katastrofalnej sytuacji gospodarczej. Jednak zdecydowane reformy i wsparcie Klub\u00f3w Paryskiego i Londy\u0144skiego pozwoli\u0142y nam wyj\u015b\u0107 na prost\u0105, a nawet si\u0119 rozwin\u0105\u0107. To, co doradzi\u0142bym Grekom to zrozumienie wyj\u0105tkowej sytuacji i rozpocz\u0119cie patrzenia na sw\u00f3j kraj przez pryzmat narodowego, a nie wy\u0142\u0105cznie partykularnego interesu. By\u0107 mo\u017ce Grecja w najbli\u017cszych latach nie oka\u017ce si\u0119 feniksem Europy i nie dor\u00f3wna poziomem PKB pot\u0119gom takim jak Niemcy czy Francja, ale nadal ma szanse na odzyskanie stabilno\u015bci. Widmo upad\u0142o\u015bci Grecji jest kosztown\u0105 i bolesn\u0105 lekcj\u0105 pokory dla innych pa\u0144stw, nie tylko Eurolandu. Zwyci\u0119zcami b\u0119d\u0105 Ci, kt\u00f3rzy wyci\u0105gn\u0105 wnioski i nie powt\u00f3rz\u0105 b\u0142\u0119d\u00f3w Grecji. Materia\u0142 ukaza\u0142 si\u0119 w serwisie: dnia 16 lipca 2015: \u00bb Ekspert restrukturyzacyjny: Kryzys Grecji lekcj\u0105 dla biznesu<\/p>","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[19],"tags":[],"ppma_author":[30],"class_list":["post-5656","post","type-post","status-publish","format-standard","hentry","category-blog"],"authors":[{"term_id":30,"user_id":12,"is_guest":0,"slug":"teampmr-restructuring-pl","display_name":"Zesp\u00f3\u0142 PMR","avatar_url":{"url":"https:\/\/pmr-restrukturyzacje.pl\/wp-content\/uploads\/2024\/10\/logo2-e1729926426335.png","url2x":"https:\/\/pmr-restrukturyzacje.pl\/wp-content\/uploads\/2024\/10\/logo2-e1729926426335.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/posts\/5656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/comments?post=5656"}],"version-history":[{"count":0,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/posts\/5656\/revisions"}],"wp:attachment":[{"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/media?parent=5656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/categories?post=5656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/tags?post=5656"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/pmr-restrukturyzacje.pl\/en\/wp-json\/wp\/v2\/ppma_author?post=5656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}