Monday, November 7, 2011

Hands up all those who think the Greek Bailout will work!

Hands up all those who think the Greek Bailout will work! I am not an economist but even I can see that unless there is a miracle, this bailout is not going to work.

You cannot get blood out of a stone and Greece is broke it seems. Greece may be the foundation of democracy but it is also very good at corruption so I have been led to believe in the press and has a history of the rich evading their taxes. Like the Third Estate in the French Revolution when the poor who did pay the taxes to keep assorted Kings, Queens and clergy who didn't, in the luxury to which they felt they were entitled, could not longer pay.

So this whole thing has been shunted forward another three months and then will the fat hit the fan? I think it will. I am quite happy to be wrong on this one. There is no way Greece can pay up without reducing its citizens to penury!

The EU wants Greece to sell off all its assets to greedy bankers and it is going to force Greece to do this. Poor Greece! But countries have a mechanism which private companies and us do not. Countries can Nationalise. NZ has had to do this twice quite recently. NZ had to buy back its airline and railways. The railways cost a $1. If I were Greece I should do just this!

Times have changed . The Ship of State has been turned into a very different Ship of State from even ten years ago. The sailors, us, have moved into the present day, the 99% will no longer put up with greed and tax evasion but sadly the captain and officers, our politicians, still imagine they are running an old aircraft carrier which ought to be decommissioned years ago.

All in all, interesting times and whatever happens we are in for a rocky few years.

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