Check out this brief article:
SIR
As an American student of tribal programming, I can assure the world-wide public that the much discussed Greek problems are neither financial nor political. They are genetic.
DNA programming is such that every Greek is committed to two self-evident truths. First, that he alone deserves to be Emperor of the Universe and, second, that out of sheer envy, everyone else conspires to prevent him from assuming his rightful position.
The above conviction makes all Greek societies initially dysfunctional and eventually chaotic. In the Fifth Century BC, after the Greeks managed to keep Iran out of Europe, they launched a civil war that destroyed both Athens and Sparta. In the Sixth and Seventh Centuries AD, shortly after the Romans presented the Greeks with an Empire, the recipients launched a series of civil wars which led to the capture of Constantinoupolis by the Latins in 1204 AD and then to the fall of the Byzantine Empire to the Ottomans in 1453 AD. In the 1820s AD, while fighting their Independence War against the Ottomans, the Greeks, true to their genetic programming, also fought not one but two civil wars over a question that resonates loud and clear today. Namely, who will get his hands on the proceeds of the first international loan secured by the embattled state.
The European Union insists that ailing Greece must institute fiscal discipline, transparency, accountability and an independent Statistical Service that won't fiddle the books. To Greek ears this is pointless blather. In his heart, every Greek wants the EU to concede the self-evident. Specifically, that every single Greek deserves to be Emperor of the Universe. This being given, the EU is duty bound to keep the tribe of Emperors in the life-style to which they've been accustomed.
If the EU fails to perform its duty, it will confirm what every Greek has always known: that everyone who is not a Greek is a barbarian, and that all barbarians envy the Chosen People.
Basil Coukis
(appeared in the Wall Street Journal, here)
Friday, 12 February 2010
Thursday, 11 February 2010
Greece Promises to Curb Investment and Boost Unemployment
I received the following alarming letter:
Sir,
Greece will never cease to amaze. No sooner have Berlin and Paris agreed European support for Greece (10-11th Feb) at the EU summit, than legislators back home quietly prepare for “revolutionary labour reform”.
Most will have heard about Greek accounting and statistics, so creative legislation should come as no surprise. However, a blunder of this magnitude is likely to amaze even the most cynical critic.
To whit: a new bill allegedly prepared in Camera proposes even greater complexity and rigidity to complement Greece's already chaotic labour law. Quite tragicomically, the bill is titled “Guarantees against Job Insecurity” and effectively ensures that investment and jobs will be swiftly moved out of the country only just bailed out by its Europartners.
This text proposes to effectively eliminate temporary labour, drastically limit part-time occupation, eliminate choice in recruitment, and practically eradicate contractual employment. All of this is regulated under strict bureaucratic procedures, contractual mumbo-jumbo, and protected by heavy fines…
The idea, it would seem, is to coerce employers and would be employers to turn exclusively to full-time, indefinite term (lifetime?) employment for their employees.
Wishful thinking.
The fact that this bill contravenes European directives ratified by Greece is one issue – and not always a key issue in Greece as we have seen throughout the years. What is immediately scary, however, is that it is set to accelerate unemployment to new heights adding at least 22.000 to the present toll from one day to another. While official unemployment statistics are, well, Greek, total unemployment could reach 22% of the total work force in the first semester alone estimates a Ministry of Labour official. The reasons why Greeks rally –nay stampede – for positions in the job-secure, pay-secure, and legislation–secure bloated Public Sector is clearly evident.
So, now that Germany is leading Greece’s fiscal bail-out team, which country will be willing to bail out Greece’s newly unemployed?
Kind regards,
Greg Alexander
Recruitment partner, Strategy mentor.
Athens
Excellent.
Further comment is deemed superfluous.
Sir,
Greece will never cease to amaze. No sooner have Berlin and Paris agreed European support for Greece (10-11th Feb) at the EU summit, than legislators back home quietly prepare for “revolutionary labour reform”.
Most will have heard about Greek accounting and statistics, so creative legislation should come as no surprise. However, a blunder of this magnitude is likely to amaze even the most cynical critic.
To whit: a new bill allegedly prepared in Camera proposes even greater complexity and rigidity to complement Greece's already chaotic labour law. Quite tragicomically, the bill is titled “Guarantees against Job Insecurity” and effectively ensures that investment and jobs will be swiftly moved out of the country only just bailed out by its Europartners.
This text proposes to effectively eliminate temporary labour, drastically limit part-time occupation, eliminate choice in recruitment, and practically eradicate contractual employment. All of this is regulated under strict bureaucratic procedures, contractual mumbo-jumbo, and protected by heavy fines…
The idea, it would seem, is to coerce employers and would be employers to turn exclusively to full-time, indefinite term (lifetime?) employment for their employees.
Wishful thinking.
The fact that this bill contravenes European directives ratified by Greece is one issue – and not always a key issue in Greece as we have seen throughout the years. What is immediately scary, however, is that it is set to accelerate unemployment to new heights adding at least 22.000 to the present toll from one day to another. While official unemployment statistics are, well, Greek, total unemployment could reach 22% of the total work force in the first semester alone estimates a Ministry of Labour official. The reasons why Greeks rally –nay stampede – for positions in the job-secure, pay-secure, and legislation–secure bloated Public Sector is clearly evident.
So, now that Germany is leading Greece’s fiscal bail-out team, which country will be willing to bail out Greece’s newly unemployed?
Kind regards,
Greg Alexander
Recruitment partner, Strategy mentor.
Athens
Excellent.
Further comment is deemed superfluous.
Monday, 1 February 2010
The Woes of Greece and the Guardian (newspaper)
The following letter appeared in the Guardian today.
Interesting read:
"I for one believe [Greece's great problems] are straight ahead -- not around any corner.
One of the problems is that Greece seems to consume much (which is neither here nor there) but produces very little; Apparently much of the public spending never quite made its way into productive investment... unless a Porsche Cayenne vehicle is one such (Greece boasted the highest per capita ownership of such vehicles).
Greece's "action plan" is, it seems, heavily dependant on increasing income which cannot, as many erroneously assume, really come from clamping down on tax evasion -- such as it may be. The assumption being made is that tax evasion is linked to Public Sector corruption: tax evasion would directly result from curbing corruption.
This is hardly an overnight affair some would say not even a three years affair (financial sources allege that claiming and obtaining vat returns in Athens may cost a whopping 10% -- because about 7 persons are involved and they all have to receive their little kickback).
Amazingly, for a country boasting over 700.000 people in the Public Sector and nationalised corporations combined, the cost-cutting part of the financial plan is conservative.
So, a large part of the country's projected top line increase has to come from private investment: that seems a risky assumption if not an unlikely proposition...
To whit: a new labour bill under discussion proposes even greater complexity and INflexibility to Greece's already chaotic labour law.
This bill promises to export more jobs outside the country, adding rising unemployment to the country's financial woes.
Indeed, one minister (who obviously never read the proposals) heralded this labour reform as the tool to create 65.000 new jobs.
Indeed! In Bulgaria, perhaps?"
End of story.
Interesting read:
"I for one believe [Greece's great problems] are straight ahead -- not around any corner.
One of the problems is that Greece seems to consume much (which is neither here nor there) but produces very little; Apparently much of the public spending never quite made its way into productive investment... unless a Porsche Cayenne vehicle is one such (Greece boasted the highest per capita ownership of such vehicles).
Greece's "action plan" is, it seems, heavily dependant on increasing income which cannot, as many erroneously assume, really come from clamping down on tax evasion -- such as it may be. The assumption being made is that tax evasion is linked to Public Sector corruption: tax evasion would directly result from curbing corruption.
This is hardly an overnight affair some would say not even a three years affair (financial sources allege that claiming and obtaining vat returns in Athens may cost a whopping 10% -- because about 7 persons are involved and they all have to receive their little kickback).
Amazingly, for a country boasting over 700.000 people in the Public Sector and nationalised corporations combined, the cost-cutting part of the financial plan is conservative.
So, a large part of the country's projected top line increase has to come from private investment: that seems a risky assumption if not an unlikely proposition...
To whit: a new labour bill under discussion proposes even greater complexity and INflexibility to Greece's already chaotic labour law.
This bill promises to export more jobs outside the country, adding rising unemployment to the country's financial woes.
Indeed, one minister (who obviously never read the proposals) heralded this labour reform as the tool to create 65.000 new jobs.
Indeed! In Bulgaria, perhaps?"
End of story.
Friday, 22 January 2010
Communication breakdown
Just a thought:
Remember when we would write to our MP, to the politicos of our constituency, etc?
Greece has devised a new method: talk through television.
Farmers have blocked highways in the country and requesting a talk with the minister of agricultural growth (there is no ministry of agriculture in Greece)... through the telly
...while...
Said minister, calls for discussions with aforementioned farmers via... telly.
Why can't they call each other up?
Anyone got a mobile?
Remember when we would write to our MP, to the politicos of our constituency, etc?
Greece has devised a new method: talk through television.
Farmers have blocked highways in the country and requesting a talk with the minister of agricultural growth (there is no ministry of agriculture in Greece)... through the telly
...while...
Said minister, calls for discussions with aforementioned farmers via... telly.
Why can't they call each other up?
Anyone got a mobile?
Tuesday, 19 January 2010
Balancing the imbalances --- Greek style
The current Greek government is trying to convince themselves and sundry that they can pull the country out of its present rut by boosting income by around 30%... or simply hoodwink themselves and sundry into believing so.
They forgot to cut public spending.
Or, maybe, they consider cost-costing has already reached down to the bone and political cronies will be endangered?
For example, those 60.000 still drawing a pension despite their departure for greener pastures...
Or the 25.500 "cashiers" on public payroll...
Or the "extraordinary" stipend awarded civil servants not qualifying for an "ordinary" stipend...
Or, how about the Euro: 230.000 parachute offered to ex workers of the Piraeus port authority to shut up?
But what do you expect from a country routinely run by amazingly inefficient people lacking any professional seniority...
This woman is minister of "Economy, Competitiveness and Merchant Marine".
In more worldly terms, "minister of bullshit".
Before pledging to make ministerial noises, she used to be a teacher.
The best thing about her is the usually open mouth, a result of a somewhat stretched face lifting.
This woman and our friend George Papa, the Finance Minister (who speaks English and French and Greek, which is more than his boss can do), together, will perform the miracles.
By comparison, France has one person to do the job, C Lagarde. Lagarde, reportedly, not only knows how to read and write, she has also worked before in her life!
Wow! How can the French do it and Greeks can't do it? What do the French got, Greeks don't got???
Despite the usual maxims about "getting the politicians you deserve", I still think Greeks deserve better...
They forgot to cut public spending.
Or, maybe, they consider cost-costing has already reached down to the bone and political cronies will be endangered?
For example, those 60.000 still drawing a pension despite their departure for greener pastures...
Or the 25.500 "cashiers" on public payroll...
Or the "extraordinary" stipend awarded civil servants not qualifying for an "ordinary" stipend...
Or, how about the Euro: 230.000 parachute offered to ex workers of the Piraeus port authority to shut up?
But what do you expect from a country routinely run by amazingly inefficient people lacking any professional seniority...
This woman is minister of "Economy, Competitiveness and Merchant Marine".
In more worldly terms, "minister of bullshit".
Before pledging to make ministerial noises, she used to be a teacher.
The best thing about her is the usually open mouth, a result of a somewhat stretched face lifting.
This woman and our friend George Papa, the Finance Minister (who speaks English and French and Greek, which is more than his boss can do), together, will perform the miracles.
By comparison, France has one person to do the job, C Lagarde. Lagarde, reportedly, not only knows how to read and write, she has also worked before in her life!
Wow! How can the French do it and Greeks can't do it? What do the French got, Greeks don't got???
Despite the usual maxims about "getting the politicians you deserve", I still think Greeks deserve better...
Thursday, 14 January 2010
Earthquake in Haiti. Redefining the word, "Biblical".
Four disastrous storms about 1 1/2 year ago;- Now a 7 on the Richter scale;
- No earthquake resistant buildings;
- Practically little is left standing;
- The poorest country in the Western Hemisphere...
Put together, the above hardly suffice to paint the picture. Devastation and heartbreaking human suffering.
A child may ask "what have I done to deserve this?" or, "why am I living in Haiti?"
Can anyone help?
Wednesday, 13 January 2010
Greek Statistics...
...not withstanding, Greek parliamentarians persist in calling one another names while the country they actually represent sinks lower.
Beside the usual chaff from the inane but vociferous "left-wing", even the major party subscribes to and voices the sweet siren song of "down with everything".
While this is going on, I wonder if there is a country out there willing to offer political asylum to Greek nationals in quest of a serious home for their families?
Beside the usual chaff from the inane but vociferous "left-wing", even the major party subscribes to and voices the sweet siren song of "down with everything".
While this is going on, I wonder if there is a country out there willing to offer political asylum to Greek nationals in quest of a serious home for their families?
Tuesday, 12 January 2010
Most important: HAPPY NEW YEAR!
God Knows* we need a better year.
Are we going to get it?
As far as "better" is inside each and every one of us, let's hope we can do better.
*Keeping the deity symbolic, for those who do not believe in any some such.
Are we going to get it?
As far as "better" is inside each and every one of us, let's hope we can do better.
*Keeping the deity symbolic, for those who do not believe in any some such.
Europe's Next Television Star
That would be George Papa-whatever, Greece's loquacious Finance Minister. This 49 year old obscure academic and one time minor civil servant has finally found his calling**.
In the space of a few months, George has propelled himself into what is sure to become the hottest item for TV channels and studios worldwide.
George may not be good at doing anything -0- but he sure is great at talking about it!
And talk he does!
This comes as a sequel to a host of other performances at CNN, the BBC in December, and lately, the choice of Greek television's morning talk shows.
Just you watch! He may not look like much -- but he sounds like a few million dollars...
...And that's exactly how much -- and more -- he'll have in his pocket when he is over his latest tour!
(He needs some sprucing up, but he is still a killer.)
In his spare time, George moonlights as CFO for a country. Not bad for a kid that barely made it through College!
**To give credit where it is due, the man has worked -- somewhat. This is more than most (all ) of his co-ministers can claim. His star colleague is a woman named Louka Something, whose latest face lift has given her a permanent smile of dyspepsia. Great woman, the sort of person to make holders of Greek passports proud.
In the space of a few months, George has propelled himself into what is sure to become the hottest item for TV channels and studios worldwide.
George may not be good at doing anything -0- but he sure is great at talking about it!
And talk he does!
Lately he took Britain's BBC by storm in a shattering show.
This comes as a sequel to a host of other performances at CNN, the BBC in December, and lately, the choice of Greek television's morning talk shows.
Just you watch! He may not look like much -- but he sounds like a few million dollars......And that's exactly how much -- and more -- he'll have in his pocket when he is over his latest tour!
(He needs some sprucing up, but he is still a killer.)
In his spare time, George moonlights as CFO for a country. Not bad for a kid that barely made it through College!
**To give credit where it is due, the man has worked -- somewhat. This is more than most (all ) of his co-ministers can claim. His star colleague is a woman named Louka Something, whose latest face lift has given her a permanent smile of dyspepsia. Great woman, the sort of person to make holders of Greek passports proud.
Wednesday, 23 December 2009
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".
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".
Thursday, 17 December 2009
Investing in Greece...(3)
You're kidding, right?
Check this out:
* S&P's rating fell to BBB+
* The Greek Minister of Finance ), one Papaconstantinou, said: “There is a lot of will to do whatever it takes to bring down the deficit,” Mr Papaconstantinou told the Financial Times on Wednesday.” But he did NOT specify the way.
* “We are starting off with this huge credibility deficit and there’s not much we can do to change it immediately,” Mr Papaconstantinou said on Wednesday. “Our big concern is how we buy some time. The kind of things we’ve started doing are a significant departure from the past but they don’t produce results right away.” What kind of things??? For one, I know of three companies the fiscal authorities visited and left with some cash in pocket. Guess how many more there are.
Is this part of the things "we started"...
Plus ca change, plus c'est la meme chose.
The Greece motto:
"Important measures are taken to ensure the rich become poor without fail, while unerringly retaining the poor in the their poverty."
Invest?
You crazy? In Greece we don't like investors.
Check this out:
* S&P's rating fell to BBB+
* The Greek Minister of Finance ), one Papaconstantinou, said: “There is a lot of will to do whatever it takes to bring down the deficit,” Mr Papaconstantinou told the Financial Times on Wednesday.” But he did NOT specify the way.
* “We are starting off with this huge credibility deficit and there’s not much we can do to change it immediately,” Mr Papaconstantinou said on Wednesday. “Our big concern is how we buy some time. The kind of things we’ve started doing are a significant departure from the past but they don’t produce results right away.” What kind of things??? For one, I know of three companies the fiscal authorities visited and left with some cash in pocket. Guess how many more there are.
Is this part of the things "we started"...
Plus ca change, plus c'est la meme chose.
The Greece motto:
"Important measures are taken to ensure the rich become poor without fail, while unerringly retaining the poor in the their poverty."
Invest?
You crazy? In Greece we don't like investors.
Wednesday, 11 November 2009
Living, Investing... in Greece (2) Investing
For the official blurb go here.
The site contains the usual mish-mash of syncopated info and a host of unsubstantiated reasons to... bring your solar panels to Greece.
For a more serious, no nonsensical approach and (much) better advice, go here.
For the hands-on experience, here are a few pointers...
Living, Investing... in Greece: (2) {Don't} Invest In Greece
Fiscal legislation changes annually; so do rates for corporate and personal taxation;
In times of crisis, extra contributions are levied -- at whim and will of the powers that be;
In Greece figures are notoriously unreliable, whether they be official, published, etc...
In Greece, administrative and/or government commitments can be notoriously unreliable; all it takes is a change of gov and you have to renegotiate the deal and the contract (look at CosCo for example).
Bureaucratic barriers to entry are high: there is even an organisation set up to steer investors away from the uncooperative administration;
Greek administrative legislation and bureaucracy, both, protect the Greek administration at the expense of the people; don't expect to get your papers in order unless you believe in miracles (or a miracle actually took place!);
Allegedly (by all) Greek Government agencies are notoriously corrupt; building permits, sundry fiscal issues, etc, will boost your admin (or legal counsel) budget; interstingly Greece has an automatic tax settlement method: give me X and you've got a deal.
In a move typical of modern Greek politics, the new governments is promising to stimulate the market and foreign investment by... raising income tax and capital gains tax
Athens is in the bottom 50 of (un)welcoming cities; Athens is particularly unfriendly to toddlers, children, and the ageing population (no where to walk, the few pavements are full of murderous potholes, there are rarely damages awarded for any personal claims...); to be on the safe side, your family will have to live elsewhere -- or relatively secluded from everyday life.
Athenians do not like, nor do they welcome, foreigners; fortunately, they dislike Greeks more.
The current leading opinion on labour matters is that work is a form of slavery; "discussions " on Greek TV resound of 50's Soviet propagandist illustrations of the West: business is the bad guy, conspiracies abound and many global perpetrators thereof are out to get Greece and its inhabitants, ranting and raving is the key (in short: the Soviet "West").
Do invest if you are occasional; you do not expect to employ anyone; can go ahead with the help of legal counsel alone; if you are thinking of real estate.
The site contains the usual mish-mash of syncopated info and a host of unsubstantiated reasons to... bring your solar panels to Greece.
For a more serious, no nonsensical approach and (much) better advice, go here.
For the hands-on experience, here are a few pointers...
Living, Investing... in Greece: (2) {Don't} Invest In Greece
Fiscal legislation changes annually; so do rates for corporate and personal taxation;
In times of crisis, extra contributions are levied -- at whim and will of the powers that be;
In Greece figures are notoriously unreliable, whether they be official, published, etc...
In Greece, administrative and/or government commitments can be notoriously unreliable; all it takes is a change of gov and you have to renegotiate the deal and the contract (look at CosCo for example).
Bureaucratic barriers to entry are high: there is even an organisation set up to steer investors away from the uncooperative administration;
Greek administrative legislation and bureaucracy, both, protect the Greek administration at the expense of the people; don't expect to get your papers in order unless you believe in miracles (or a miracle actually took place!);
Allegedly (by all) Greek Government agencies are notoriously corrupt; building permits, sundry fiscal issues, etc, will boost your admin (or legal counsel) budget; interstingly Greece has an automatic tax settlement method: give me X and you've got a deal.
In a move typical of modern Greek politics, the new governments is promising to stimulate the market and foreign investment by... raising income tax and capital gains tax
Athens is in the bottom 50 of (un)welcoming cities; Athens is particularly unfriendly to toddlers, children, and the ageing population (no where to walk, the few pavements are full of murderous potholes, there are rarely damages awarded for any personal claims...); to be on the safe side, your family will have to live elsewhere -- or relatively secluded from everyday life.
Athenians do not like, nor do they welcome, foreigners; fortunately, they dislike Greeks more.
The current leading opinion on labour matters is that work is a form of slavery; "discussions " on Greek TV resound of 50's Soviet propagandist illustrations of the West: business is the bad guy, conspiracies abound and many global perpetrators thereof are out to get Greece and its inhabitants, ranting and raving is the key (in short: the Soviet "West").
Do invest if you are occasional; you do not expect to employ anyone; can go ahead with the help of legal counsel alone; if you are thinking of real estate.
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