Greece: Secures a Further 6.8 billion EURO of Bailout Money

6.8 billion: not bad for a Soviet democracy!

Greece is to receive yet another bail-out instalment; not bad!

The performance of successive Greek governments in recent years has been nothing short of text book best practise in do nothing and / or, otherwise put, preservation of the sub-species -- preserve own own. In four years of "reforms" not ONE job has been lost in the Public Sector & State-owned companies in Greece: clearly, the Greek governments are protecting their own -- the Greek public sector payroll.

At all cost.

The private sector is dessicated, but that does not seem to daunt Greek politicians at all; unemployment is hardly on the Parliamentary agenda even though, at ~37% of the private sector workforce it is well above anyone else's in the EU club.

Indeed, in the words of one Greek senior civil servant, Greece may be the only "western developed democracy to be under Soviet rule". Within the Ministry of Finance, private initiative is still seen as suspicious and, largely, fraudulent and exploitative and to be closely monitored at all times.

In Greece flexible employment schemes are suspicious and legally reprehensible (i.e. temporary employment is prohibited unless there are exceptional & transitory reasons).
Investment is not particularly welcome and therefore filtered VERY closely through a web of administrative hurdles & licenses -- the latter sometimes taking years (or greased palms). The gold-mines in Northern Greece are still lacking a few documents that would allow them to operate -- and employ people by the same token.

The list can go on, but the important point to make is that, contemporary Greece is a unique case study of paradox and exception to common sense of any kind.

And, maybe, as such, it has some educational value...

Alternatively, and if the Greek powers that be continue in doing nothing, there will come the moment when Greeks will have to pay breathing & living rent o foreign landlords.

It is difficult to understand why the politicians presently active in Greece fail to see what everyone else does see?

A German firm suggested that a private "experts task force", comprising top class experts, could  implement reforms in Greece much better than any government -- if only because politicians are beset by considerations which would be inapplicable in the case of private individuals.
Maybe.
IF the target is, to make Greece viable and still belonging to its indigenous population, then anything that can do the job goes.

An Englishman's Home Is His Castle -- Not So for the Greek?

In no uncertain terms, the same applies to the Frenchman's house or the Spaniard's.
It usually means that the government is there to provide and uphold a sense of security for its citizens.

Unfortunately, this does not apply to the Greek's house.

Over the years, and more so recently, successive governments in Greece have shown that they are in charge...and that the rules of the game can be and are, changed at any moment.

So, if you are planning your life on what applies today you may be surprised or dismayed to discover it no longer applies tomorrow...

A few examples:
* It was announced that hybrid cars were exempt from road tax. One year later, the government revised this decision: now they, too, pay road tax.
* The income tax of last year no longer applies this year. Chances are, next year's will not be identical to this years, either. So if you are budgeting your family income -- or the corporate Human Resources budget -- you are probably in for a surprise.
* If you had planned on retiring on a specific pension, such as stipulated on your Social Security plan, and have contributed for upwards of 45 years to that effect, you are in for an unpleasant surprise: the amount you get is less that 60% of what was officially promised!
* If you purchased your house and paid all taxes and thought you were thereby free of all obligations, you are mistaken. Recently, the Greek government decided you will continue to pay taxes, additionally in solidarity or otherwise.
* If you had agreed last year to invest in Greece in, say, mineral quarries, you should not be surprised by now to discover today that today your investment is no longer welcome in the community in which you have unwittingly established your company...

There are ample examples...

Given the Greek experience thus far, we can only expect these inconsistencies to proliferate.


If ever there was an exception to the rule "people get the politicians they deserve" it would be present day Greeks; the political world in Greece seems to be populated by authoritarian, largely ignorant, inefficiant and self-serving nepotists.

What a mess.