Greece: on the road to recovery?

Greeks don't seem to think so. In the past month a rumoured Euro 2,7 billion left the country in private placements abroad. Despite reassuring noises made by the Minister of Finance, it seems that December's capital outflows will happily beat that.

For a country that has no plan other than the rather scaremongering "tax the rich", 800.000 people on public payroll, and no clear plan for cutting costs... capital outflow comes as no surprise.

So, where does that leave us?

Nowhere. The tree of growth is old and it is tired. And the same old witch-hunt (we'll get back at the dirty rich... and feed our own) still applies.

Thinking of investing? This is a country of surprises.
Such as the fiscal legislation which changes annually.
Such as the electorate -- your target market perhaps?
Even that can change: the prime minister is planning to use immigrants as a way of winning elections.

How genius is that!

Time and time again, Greek governments seem to confirm that the primary objective on their social policy is to impoverish, rather than to improve: the proverbial "I want to see the neighbour's cow die" instead of "I want a cow like - or better than -- the neighbour's".