Whenever I think of Greece and its economy, I can’t help but recall the stool-sample story.
In 2011, Greek entrepreneur Fotis Antonopoulos and his partners decided to start OliveShop.com, an online store specializing in organic olive-oil products.
Before they could start their business, they first needed the right paperwork.
As recounted in the Greek newspaper e-Kathimerini, authorizations were required from the government tax office, the local municipality, the fire department. Also the bank, which insisted that the entire website be in Greek—and only in Greek—despite Mr. Antonopoulos’s attempts to explain that he intended to market his products to foreign customers.
And then there was the health department, which informed Mr. Antonopoulos that company shareholders would be required to furnish chest X-rays and, yes, stool samples. Greece has standards, you know.
It took OliveShop.com 10 months to get all the right stamps, certificates and signoffs. The problem with the bank was resolved only when Mr. Antonopoulos opted for PayPal instead. Registering with the U.S. Food and Drug Administration, by contrast, took him all of 24 hours and one five-minute digital form.
The stool story is a useful reminder that, when it comes to understanding the economic life of a nation, it’s worth looking at the micro-side first.
