Greece in Financial Duress and Social Tatters
Greeks are certainly an assertive lot. They do not appear to be particularly hard-working, but they do appear to insist that they be generously compensated for whatever work they do accomplish. They appear also to be singularly averse to paying taxes, and do a very good job of pretending they know nothing of such obligations, since roughly two-thirds of Greek citizens pay no taxes. Despite which they feel they deserve generous bonuses, time off, handsome pensions, early retirement and plenty of vacation time.Evidently it is quite permissible and reasonable for other EU member-countries, those who practise responsible economic management and whose workers are more attuned to the realities of life, to commit to surrendering sizeable amounts of their national treasuries to ensure Greece doesn't collapse. And these payments should be carried out discreetly as though they're no big deal; certainly not handed over with anything resembling criticism of the receiving country.
Of course this is the kind of bonus-benefits entitlement that resonates with a society that embraces the socialist ideal. Except that it seems to be all take, and very little give. Reasonable this is most definitely not. How can a government function adequately without a reasonable tax base? Borrowing just to be able to continue operating does have its limits, after all. And those limits have been reached when the national deficit is beyond reasonable and the debt just keeps mounting.
All of which makes the European Union very nervous indeed. For this is not how one of their members is expected to dispatch its obligations. So the government of Greece, in recognition of demands for accountability and sucking in their deficit by the EU, has announced austerity measures. None of which have met with much in the way of enthusiasm by their population. Tens of thousands of protesters march in major Greek cities, and marchers demonstrate their pique by tossing produce stolen from supermarkets.
Just nice, reasonable, law-abiding citizens expressing their disappointment in their government. Obviously unwilling to wait for the nearest opportunity to cast their ballot and throw the scoundrels out. Perhaps in the knowledge that the scoundrels that will replace this bunch will be forced to do exactly the same, lest the country fall into dire default. And then what? Join Iceland, hoping for some fabulously wealthy rescuer to come along and tell the citizenry to get on with their lives as is?
"Between bankruptcy and recession, between the devil and the deep blue seas, there is no other alternative to the abyss", the head of the country's employers' federation proclaimed in supporting Prime Minister George Papandreou's government's new economic measures designed to assist the country to begin melting its deficit position into a more manageable coping strategy.
The country's unions, however, continue to call on their members - one million is the number they'd prefer to respond, not a measly ten thousand per pop - to strike in response to what they claim are Draconian measures. And strike they have, with public transport, schools, hospitals and government offices closing in Athens and elsewhere. Even tax collectors are on strike,and newspaper staffs.
Evidently the fact that the public deficit standing at 12.7 percent of output and a debt of close to $410-billion is seen by the public as negligible inconveniences. Everyone is entitled to their gross stupidities, one imagines.
Labels: Economy, European Union, Societal Failures
posted by Pieface @ Friday, March 12, 2010
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