Sunday, 27 November 2011

Greece - you had it coming..

Even though my heart goes out to Greece for their economic woes, and especially to the younger Greek generation, its hard to avoid the conclusion that their culture of crony-ism and tax dodging has come back to haunt them. It is astonishing that a government was willing to lie to EU officials about its finances in order to get into the single currency and then reluctantly admit several years later that they had inflated their figures. Their recklessness has endangered the Euro as a project and their impending default could have severe consequences for other struggling countries like Ireland in the Euro zone. It is officially estimated that Greece's coffers are hit with approximately €15 billion a year in unpaid tax. Now as the recession gets deeper in Greece one cannot see how they are going to repay all their debt of €340 billion on top of the bailout money. Europe was duped by Greece and we all could be paying a heavy price for this deceitfulness..a case of more stupid than clever.

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