Lake Erie Conservative

thoughtful discussion(s) about issue(s)

… Greece is in real Trouble [#national Finances]…

Posted by paulfromwloh on Thursday,May 26th,2016

.. Greece has dug a real hole for itself with its profligate spending and taxes . Somehow , someway , it has to get its act together ..

.. right now , it does not look like that is going to happen ..

.. Greece has a notorious problem with spending . That is bad enough . Its problems with taxes and levels of taxation are even worse . In Greece , tax evasion seems to be a national sport . The Greek government seems to want to tax anything and everything that eats , breathes , squeakes , or moves . Not only that , it does so at a level that makes it very profitable for people to evade taxes , and not pay them …

.. [h/t —]..
.. [link] to the news report …

.. right now , it is barely even to pay its lenders . It has to scrape by from any and every fund to make any payment , including those to government workers and pensioners . It can hardly plan for the future , when its micro – short – term focus is so ridiculous . For God ‘ s sake , it has to take drastic action ..

.. One principal problem is its ultra – leftist Syriza government . It wants to use many or all of the traditional socialist nostrums . Those are what is failing Greece now . The other is the IMF . It wants Greece to take the equivalent of financial strichnyne , and thus die a economic slow death . They are damned if they do , and damned if they don’t …

.. so , they have to do something . The question is what ??


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