http://www.theguardian.com/commentisfree/2015/jun/27/greek-bailout-extension-refused-panel-leading-economists-give-their-verdict
From a hejookated chap:
http://arstechnica.com/civis/viewtopic.php?p=29334345#p29334345
Some Chap On The Internet:
Whatever happens, it's going to be mightily shitty for the Greek on the Athens Omnibus. But that's what happens when you don't pay/collect your fucking taxes.
The chickens are coming home to roost.
From a hejookated chap:
The reality is that Greece has a highly uncompetitive economy and no credible tax collection system. The problems mostly are in the product, capital and housing markets that remain unaddressed. According to the World Bank’s Doing Business rankings, Greece ranks 61st, just behind Tunisia. Greece is 155th in the ability to enforce contracts, just ahead of Laos and Botswana. There has been no reform to speak of. Greece is characterised by endemic tax evasion, a poor tax collection infrastructure, parochial patronage policies, corruption and huge delays in the administrative courts dealing with tax disputes. Greece also has deep structural problems, mostly in product markets with oligopolies in almost every industry, closed professions, administrative and bureaucratic impediments to entrepreneurship alongside barriers to trade and exporting, none of which have been addressed. This baby certainly isn’t over. The worry is if the inevitable Greek default spreads.
http://arstechnica.com/civis/viewtopic.php?p=29334345#p29334345
Some Chap On The Internet:
Lets see now... Their election promises.
1. 300,000 new jobs in the private, public and social sectors, and a hefty increase in the minimum monthly wage - from €580 ($658; £433) to €751 ($853; £562)
2. 300,000 households under the poverty line up to 300 kWh of free electricity per month and food subsidies for the same number of families who have no income. Tax on heating fuel would be scrapped.
3. They promised to reinstate a Christmas bonus pension for pensioners receiving less than €700 ($795; £524) a month.
4. A writing off most of Greece's €322bn ($364bn; £236bn) debt, a colossal 174% of its gross domestic product (GDP).
5. When Syriza came to power it promised to halt a string of privatisations, such as the port of Piraeus and the big energy company, Public Power Corporation of Greece.
6. Property owners in Athens's leafy, northern suburbs were enticed with the promised abolition of a hated annual levy on private property. Known as "Enfia", the tax was introduced in 2011 as an emergency measure but made permanent under the previous government.
7. Repayment of the remaining debt tied to economic growth, not the Greek budget
8. A "significant moratorium" on debt payments
9. The purchase of Greek sovereign bonds under the European Central Bank's €60bn ($68bn; £45bn) monthly programme of quantitative easing
10. A European Debt Conference modelled on the write-off of half of Germany's post-World War Two debt
Do you know how possible 7-10 were with 1-6? Nil. Nothing. Nought. Zilch. Fuck all. No fucking way. At all. Ever. Not happening. No fucking way.
Anyone with more than one functional brain cell knew this, yet the Greek voters lapped this shit up. So you know what? YES THEY DID FUCKING BRING THIS ON THEMSELVES. If the Greeks don't like it, well they can fucking lump it for all I care.
Whatever happens, it's going to be mightily shitty for the Greek on the Athens Omnibus. But that's what happens when you don't pay/collect your fucking taxes.
The chickens are coming home to roost.