Slovakia Following 'Greek Path' of Economic Decline, Warns Analyst

Slovakia is following the same economic trajectory as Greece during its debt crisis, with investors fleeing, skilled workers emigrating, and political leadership disconnected from reality, according to analyst Ivan Bošňák. The country faces years of suffering and decline as it must undergo economic impoverishment from its currently relatively comfortable position. Bošňák warns that Slovakia lacks a critical mass of voters who understand the desperate state of the economy, while citizens have developed an "entitlement mentality" of living at the expense of future generations. The analyst argues that the country needs to reform its expensive social and pension systems and restart economic growth, but voters appear resigned to the so-called "Greek path" of gradual economic deterioration.