Trapped by limited economic horizons

There was a famous advert for British Telecom in the UK in the late 1980s featuring comedian Maureen Lipman as a grandmother speaking to her grandson, Anthony, about his exam results. After calling to pass on her congratulations, the depressed teenager informs her that he failed his exams. "You didn't pass anything?" she asks forlornly. "Pottery," he responds. "Pottery? Very useful," replies the supportive grandmother. "Anthony, people will always need plates."

If we were to invoke the indefatigable spirit of Anthony's grandmother when looking at the survey published last week by Endeavor Greece, which shows that a large number of the new Greek businesses being created are in the food service sector, we might respond: "Very useful; people will always need to eat."

A more dispassionate look, though, provides little encouragement regarding the levels of creativity and...