After learning how to use twitpic I started posting some charts there, but I consider the following chart to be extremely important and to go some way into explaining the gross fixed capital formation shortfall witnessed in Greece.
Loads of factors are cited as potent to explain capital productivity differentials, but I think that one of them outshines them all and is particularly fitting in Greece's case: the degree that the state interferes in the product markets along with the regulatory framework.
As I have repeatedly pledged fairness in what I write here, I have to say that there is a sector where relevant gross fixed capital formation helps Greece rank higher than some of its EU counterparts: investments in dwellings.
Notice that levels (as a %) of gross fixed capital formation in dwellings similar to that of Greece in the 70s and 80s were recorded in Ireland during the 00s when the country was in a property bubble. I know that Greece experienced an incredible wave of urbanization during the 70s and 80s but high CPI ( along with other factors) made sure that this was the only kind of investment boom that the country experienced back then...