Thursday, 28 January 2010

Get out of this one ......

Yipe, like it or not we, Greece, are broke. And when we do anything we go the full hog. Like having debt to the tune of 300 billion Euro. Now considering there are only 10 million of us here at the end of the Balkans, my maths says that is about 30 000 Euro for each of us. Of course we have the usual political musical chairs with the ruling Socialist Party saying that it is the ousted New Democracy that were the thieves. Be it as it may, we are still broke. The two major earnerss in the Greek economy, shipping and tourism have both suffered and continue to suffer from the crisis so in a word things are - how can one put it - a touch on the bleak side. In fact things have not been as bad for quite some time. The latest incredible rumours that Greece cheated its way into the Eurozone by cooking the books does not help things either and last week I took part


In a discussion where I learned that older people are getting their savings out of the country (Switzerland, I am told) as there are plans to bring back the Greek drachma. Quite apart from the fact that this is utter nonsense and near the impossible in European political and economic terms, it does indicate the present mood in the country - bleak.

The black eocnomy in Greece is reckoned to account for 30% of GDP - i.e. 30% of what the country earns is slipping past the tax man and the government coffers but tax evasion was always regarded as common sense in this country. Hmmmmm........

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