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Of course rooftop PV manufacture and installation in Greece will be one of the pillars of their recovery, with far higher efficiencies than in Hamburg.

No it won't. Austerian policies imposed by Frankfurt are destroying the Greek economy, preventing the European Investment Bank from funding projects in Greece, encouraging a capital and deposit flight out of Greece, and so on and so on. Network effects will ensure that it will be more profitable to build the manufacturing facilities in other countries that haven't had their industrial fabric destroyed by 5 or maybe 10 years of depression, and installation will likely be done by foreign conglomerates who will take any profit out of Greece, as well as sold to the locals on credit given by foreign institutions who will siphon off the interest, too. Plus a foreign firm is likely to own the Greek grid when this is said and done.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Fri Jan 6th, 2012 at 04:28:53 AM EST
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