Melancholic Nostalgia

No doubt you’ve all read the news, deficit 12.7% of GDP and debt above 120% of GDP, currently standing at €300bn in total, even though they have help,  and of course Prime Minister Papandreou stating Greece will not default on the debt.

Think to yourself, how can one country get so badly into debt?

The basic answer to this is ‘poor management’. If you have a government who is corrupt, prone to cronyism, you’re unlikely to collect tax from people who need to pay it, and neither will you hire anyone good enough to look after the finances.

Do you know since the change of government, this is the first time a finance minister has a qualification in economics?

The government recently went after a load of private doctors in Kolonaki, rich area where they work from. Can you believe that one dentist claimed, for a whole year, he only earned €300 which he was taxed on? A famous comedian here joked saying he had to wait a whole year for one appointment, let alone hiring a secretary for this person!

Of course, New Democracy made a mess since their election a few years back, what with the horrid fires and anarchic riots. Who will ever forget the images of the burning Christmas tree in Syntagma, right in front of the parliament building?

It’s unlikely to happen again this year, thankfully, and everyone is looking, hoping that Papandreou will make things better, economically and socially.

I for one see him as the only politician who can help foreigners living in Greece, being half Greek himself.


One Response to “Do you know why Greece is in debt?”

  1. Melancholic Nostalgia » Blog Archive » Greece isn’t so bad

    […] on from my previous post, there are still many problems. Despite the new austerity plans, there are other problems with […]

Leave a Reply