Comments on: The Greek Crisis Will Soon Arrive At A Poll Near You.

By: Olga Magoula

Olga Magoula — Wed, 22 Feb 2012 14:28:44 +0000

I very much agree with your points here in Athens. But there is no room for action or any kind of hard work here in Greece: I do not know IF they DID it in Ireland, or if it is just rumours. NO WORK means: unemployment here is well over 22% and reaches 35% in 25-45 age ranges. The fat cats of the political clientelle working in the “light, permanent and well-paid -duties” of the huge public sector have just begun to feel the cuts in their salaries. About one third of the population has been or still is working as a public sector worker and rumour has it that they will refuse to give up jobs when they are required to- the posts are informally hereditary, a form of a dowry system really-. Even the unemployed are taxed now and pensions have gone down over a 40% and time is rife for further reductions before the elections in May.
The only reason most of us in Greece can find to roll up our sleeves is to smash the face of any priviliged next-door neighbour. The new basic salaries according to this deal of last Tuesday, barely make up to 450 euros net per month. Food prices here are like Germany or Luxembourg, food in UK is cheaper than here.
I am unemployed and I will refuse to pay any taxes for the first time in my life, because I need anything I can make to bring food to my mouth and the hope that I will find work one day. If I cannot do that, I will have to become most “resourceful” against any possible law these people impose on me than go to work for 450 euro- if I am lucky to find it that is- the new salaries are an insult to humanity and civil rights I’d rather slice-off my bosses’ meat and eat it than agree to work for that.- I did not get a single euro out of benefits, loans in my entire life and I refuse to pay money I have not spent just because I was unfortunate to live in a corrupt country the debt of which is absolutely irrelevant to me, my life and most of all to my conscience.
Good luck with Obama,

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By: John Galt

John Galt — Fri, 17 Feb 2012 00:22:48 +0000

I would like to add one more economic analysis that came out just a few hours after we posted this piece and that provides our thesis with credibility.

Goldman Sachs has estimated that the recession in Europe due to the Greek debt crisis can educe the GDP of the United States by 40% in 2012.
This is of such significance as to eradicate any continuation of the already weak recovery.
A reminder: Goldman Sachs is a Democratic banker.

By: LD Jackson

LD Jackson — Thu, 16 Feb 2012 13:25:29 +0000

I’m with Matt. This is not encouraging news. With the global constructiveness we have today, there is no telling what the effect it will have on us.

By: Silverfiddle

Silverfiddle — Thu, 16 Feb 2012 12:26:22 +0000

People do vote their pocketbook, and we’ve got half the country whose only pocketbook is Obama’s stash. Government assistance is at an all time high, and that means a lot of democrat voters.

Excellent observations!

By: KP

KP — Thu, 16 Feb 2012 04:05:15 +0000

Hey JB, I love it .. you get it

By: John Galt

John Galt — Thu, 16 Feb 2012 03:50:10 +0000

Right, Matt. Close your eyes and it won’t happen.

By: John Bascom

John Bascom — Thu, 16 Feb 2012 03:44:22 +0000

You know why God created whiskey, don’t you? To keep the Irish from ruling the world!

By: Matt

Matt — Thu, 16 Feb 2012 03:30:30 +0000

This is not at all encouraging. In fact, it is scary, which is probably why so many people seem not to want to hear it.

By: KP

KP — Thu, 16 Feb 2012 03:06:18 +0000

My opinion, the whole Greek debt is lost. The Greeks agree to the austerity plan as requested by the EU, so that they can pay the March maturities, then will have their elections, and then will come back to the deal and refuse to implement it (explicitly or implicitly). They are in such a mess that they will not have much choice: default on the whole thing and go through at least ten (twenty?) years of an uphlll battle to put their economy back on its feet; mostly their fault, in my view.

Amazing to compare them with the Irish, who did not get any help (i.e. no EUR 100 billion gift), just “pulled up their sleeves” and got down to work…