One of the founding cultures of Western Society,
where the ancients prized learning independent of ethnic status, where rigorous
inquiry flourished in spite of (and because of) the tyranny of the state (think
Socrates), Greece has become the face and fallout of big government largesse,
welfare state redistribution, and the failure of corruption and graft at the
expense of a strong work ethic. And may spell the end of the Eurozone.
where the ancients prized learning independent of ethnic status, where rigorous
inquiry flourished in spite of (and because of) the tyranny of the state (think
Socrates), Greece has become the face and fallout of big government largesse,
welfare state redistribution, and the failure of corruption and graft at the
expense of a strong work ethic. And may spell the end of the Eurozone.
In the next week (if not at press time), Hellas,
alas, will default on their IMF debt, and exit the Eurozone. Even though the
current, left-wing government Syriza proposed a referendum, the Greek voters
will have little to refer to, since national and corporate creditors are
shouting “Arketa!” (Enough!)
alas, will default on their IMF debt, and exit the Eurozone. Even though the
current, left-wing government Syriza proposed a referendum, the Greek voters
will have little to refer to, since national and corporate creditors are
shouting “Arketa!” (Enough!)
Greece is teetering on the brink, and headed toward
default, and becoming a failed state. What has happened to the heart of the
Aegean, the home of independent city-states where commerce and culture first
thrived, giving birth to the Western World?
default, and becoming a failed state. What has happened to the heart of the
Aegean, the home of independent city-states where commerce and culture first
thrived, giving birth to the Western World?
I am not Greek myself, but I have spoken with Greek
expatriates here in the United States. When I told one Greek that I was meeting
another, he laughed, then advised: “Shoot him on sight!”
expatriates here in the United States. When I told one Greek that I was meeting
another, he laughed, then advised: “Shoot him on sight!”
Wow. Feel the agape
(love). And I thought they still had a major beef with the Turks! But
seriously, what has brought the Greek economy to its knees?
(love). And I thought they still had a major beef with the Turks! But
seriously, what has brought the Greek economy to its knees?
The first thing that some Greeks tell me: Greeks. Is the culture dearth of a work ethic really
the case? One
blogger outlines that a small fraction work little, get little; and there
are those who work a lot and get great pay. The problem is that there are many
in the private sector (or what’s left of it) who get pitiful pay, and then the
scores of government workers. . .:
the case? One
blogger outlines that a small fraction work little, get little; and there
are those who work a lot and get great pay. The problem is that there are many
in the private sector (or what’s left of it) who get pitiful pay, and then the
scores of government workers. . .:
And
there are also many people who are paid lots of money to sit on their assess
and do nothing – while getting to retire early and enjoy other perks.
there are also many people who are paid lots of money to sit on their assess
and do nothing – while getting to retire early and enjoy other perks.
By the way, in Greece, Public “servants” retire on
very generous pensions. Houpa!
very generous pensions. Houpa!
Another rampant boil in the Greek body politick? Corruption.
The New York Times reported on
the leniency law now giving corrupted public officials the liberty to report on
the multi-million dollar bribes they receive for defective equipment. One
former government minister took so many bribes, that he lost count of the
amount of money he took in:
The New York Times reported on
the leniency law now giving corrupted public officials the liberty to report on
the multi-million dollar bribes they receive for defective equipment. One
former government minister took so many bribes, that he lost count of the
amount of money he took in:
Greeks are hardened to stories of corruption. But even
they have been transfixed by Mr. Kantas’s confessions since he was arrested
recently on a litany of charges including money laundering and behavior that
was detrimental to the Greek state. Never before has an official opened such a
wide window on the eye-popping system of payoffs at work inside a Greek
government ministry. At various points, Mr. Kantas, who returned to testify
again last week, told prosecutors he had taken so many bribes he could not
possibly remember the details.
they have been transfixed by Mr. Kantas’s confessions since he was arrested
recently on a litany of charges including money laundering and behavior that
was detrimental to the Greek state. Never before has an official opened such a
wide window on the eye-popping system of payoffs at work inside a Greek
government ministry. At various points, Mr. Kantas, who returned to testify
again last week, told prosecutors he had taken so many bribes he could not
possibly remember the details.
![]("http://4.bp.blogspot.com/-Bi9RV8Xr-04/VZTglSnpMbI/AAAAAAAABQk/f7olbH1eAic/s1600/20110629_Riot_police_Athens_Greece.jpg") |
| Rioting in Greece (2011) |
Other reports detail that Greeks pay nearly one thousand euros a year in bribes. Such brazen government
hustling deserves a standing ovation. Someone throw some plates.
hustling deserves a standing ovation. Someone throw some plates.
Of course, Greece should never have entered the
Eurozone in the first place.
Eurozone in the first place.
The
BBC reported why Greece struggled at first, and was rejected the first
time:
BBC reported why Greece struggled at first, and was rejected the first
time:
In
1999, Greece was left out of the Eurozone for failing to meet the EU's economic
criteria. To qualify for euro
membership, the Greek Government had to adopt a tough austerity programme,
making deep cuts in public spending.
1999, Greece was left out of the Eurozone for failing to meet the EU's economic
criteria. To qualify for euro
membership, the Greek Government had to adopt a tough austerity programme,
making deep cuts in public spending.
Haven’t we read this Greek tragedy before? Not Sophocles
or Euripides, though.
or Euripides, though.
How did Greece meet the “Maastricht” requirements?
The Greek government gave an impression of making tough decisions, but also
relying on EU leniency, allowing them to enter but work on maintaining their
fiscal and monetary policies in place.
The Greek government gave an impression of making tough decisions, but also
relying on EU leniency, allowing them to enter but work on maintaining their
fiscal and monetary policies in place.
BBC reports that that work turned into accounting tricks from cagey
accountants:
accountants:
Take the Greek state railway. It was losing a billion
euros a year," Ms Xafa remembers.
euros a year," Ms Xafa remembers.
"The Greek railway had more employees than
passengers. A former minister, Stefanos Manos, had said publicly at the time
that it would be cheaper to send everyone by taxi."
passengers. A former minister, Stefanos Manos, had said publicly at the time
that it would be cheaper to send everyone by taxi."
The authorities used a neat conjuring trick to make the
problem vanish.
problem vanish.
"The [railway] company would issue shares that the
government would buy. So it was counted not as expenditure, but as a financial
transaction."
government would buy. So it was counted not as expenditure, but as a financial
transaction."
Of course, other creative accounting from Goldman Sachs later came in
handy, too, and all in time for the 2004 Olympics. A spokesman from the Greek
government reminded the BBC reporters that other countries had been
engaging in the same budgetary sleight of hand. Furthermore, France and Germany
(the largest members) had broken the Eurozone rules already, exceeding the
percentage of debt in relation to their Gross Domestic Product. No matter which
side one falls on, though, for placing blame, Greece is going bust, and the
country’s residents and representatives both had a hand in the handling of their
country’s weak finances.
handy, too, and all in time for the 2004 Olympics. A spokesman from the Greek
government reminded the BBC reporters that other countries had been
engaging in the same budgetary sleight of hand. Furthermore, France and Germany
(the largest members) had broken the Eurozone rules already, exceeding the
percentage of debt in relation to their Gross Domestic Product. No matter which
side one falls on, though, for placing blame, Greece is going bust, and the
country’s residents and representatives both had a hand in the handling of their
country’s weak finances.
Americans shouldn’t worry. Our Constitution never
enshrined democracy as the source of good government, individual liberty, and
limited rule. Democracy is always “Two wolves and a lamb voting on what’s for
dinner”. Besides, Greek democracy has not aged well. In this clip, a Greek
Committee Chairman announces majority approval for a slew of amendments, yet no
one even voted. The Current Prime Minister has
rebuffed creditors, then put the country’s future to a vote. At least they
held Truth Committee
meetings on the country’s debt.
enshrined democracy as the source of good government, individual liberty, and
limited rule. Democracy is always “Two wolves and a lamb voting on what’s for
dinner”. Besides, Greek democracy has not aged well. In this clip, a Greek
Committee Chairman announces majority approval for a slew of amendments, yet no
one even voted. The Current Prime Minister has
rebuffed creditors, then put the country’s future to a vote. At least they
held Truth Committee
meetings on the country’s debt.
Because of a culture of graft and corruption, plus
“democratic” confiscatory policies, the Eurocrisis is eating the Greeks’ lunch.
. .or should one write baklava?
“democratic” confiscatory policies, the Eurocrisis is eating the Greeks’ lunch.
. .or should one write baklava?
At least the German, French, and private lenders
should feel some pride. Finally, someone is saying “Arketa!” to the endless
bailouts. Now, Greek banks
have closed and are
rationing ATM withdrawals.
should feel some pride. Finally, someone is saying “Arketa!” to the endless
bailouts. Now, Greek banks
have closed and are
rationing ATM withdrawals.
Will the “Grexit” tank the global economy? Only if
other member states follow suit. How fitting and yet ironic that Greece, the
womb of Democracy, may in turn become its tomb, as their last
bailout is set to expire. Yasou!
other member states follow suit. How fitting and yet ironic that Greece, the
womb of Democracy, may in turn become its tomb, as their last
bailout is set to expire. Yasou!