Every single news bulletin around Europe and the US has focused on the "Greek tragedy" that is the economic crisis engulfing Greece. Greece has managed to save itself from economic meltdown with the French government seemingly entering at the last minute to provide various loans to Greece to stave off catastrophe, a run on the Euro and further economic instability in the Euro-zone.
The problem of Greece, is not simply the problem of unreliable data, or a weakness of political leadership, but the intrinsic problem with the Greek public sector, which allows civil servants after serving 20 years, to retire on a full pension from 38 years old in some cases. What pension system in the world can with stand 30-40 years of an individual being paid a full pension, and not putting anything back in the system? Only in Greece.
The state broadcaster, ERT it was revealed to employ more people than the BBC, with output that comes no where that of the BBC.
Meanwhile the Greeks are now told to ask for receipts for all work carried out in the home, to prevent cash being used, and to give the Greek taxman a chance.
Maybe Greece needed to wake and accept that two homes, regular holidays, private tuition for the kids, and meals out every other day must now stop. Reality time, the mood in Brussels is clear for Greece to borrow the critical 53 billion Euros ($75 billion) this year to cover its deficit and refinance debts, the Greeks must make deep and unpopular cuts to its public sector, estimate of 4% are being touted.
The parties is over, but let’s not get too smug here in London, much of the problems the Greeks got themselves into, borrowing on rising property values, easy credit, and a over-bloated public sector are the exact problems we face.
@Teodor Kazandzhiev , and also generally to the article..
Greeks most of the times work 9-10 hours per day , for £600 per month. With that kind of salary they have to pay half of their hard-earned money for the rent, and almost the other half for electricity, water ,groceries and other basic stuff.
In Greece the cost of living is almost the same in the UK but with 1/2 of the British salaries.
I believe that the myth of the lazy rich greek people has its origins from the tales of tourists who visited greece , and while resting in a greek island they were chatting with a rich beach-bar owner who was very cool , relaxed and saying them that "this is the life in greece".
Finally as for the "the greeks have 2 houses" , this is just a big misunderstanding..
Most of them have one, and their children are still going to pay for it..
Teodor Kazandzhiev
Date Added: Thursday 30 June, 2011
Greeks are the laziest people I have seen.
The things I witnessed while I was there are almost impossible to believe. You have to see it with your own eyes...
In 2 - 3 at noon they close the stores and everyone goes home to party (or at least 50% of the population).
They get 700EUR minimum wage, early retirement, 15 salaries per year (not 13 like the rest of us) and they have huge amount of holidays (on which they pay either double or 150% wage for the day).
Now it comes to bite them in the a**. One cannot construct an economy by giveaways and dependence on tourism.
If the money they borrowed were invested in industry, maybe they would have twice more money and no serious issues with the economy.
That's what I think.
