Problems in Greece Sound Familiar
I sent an e-mail to a friend in Greece asking him for clarification on what is happening there. I wanted a first hand perspective since we do not get much detail in the news media here. We are so saturated with news about House Speaker Pelosi’s (D-CA) health care machinations that we know nothing about the rest of the world. The following is what he had to say about the problems there:
Yes, it is true that in Greece we have a serious financial problem. You see the last few decades (starting from Andreas Papadreou in 1980’s) , Greek governments started getting loans, they hired lots of people on the public sector, although there was no need for so many people and they did not make the changes required to make the Greek economy more competitive. As a result, after about 30 years, we have a huge debt, we have lots of employees in the public sector and we have huge loans to pay back. In a sense the country has already bankrupted. On the contrary, in the private sector things are different, but the whole bad situation affects the private sector. In the private sector, salaries are not high (in several cases, the salaries are lower that the corresponding salaries of the public sector), people work lots of hours (in the public sector, people work less hours and are by far less productive), there is no job safety (in the public sector, there is a law that public employees can not be fired no matter what!) and there are lots of cuts on the benefits. As a result, the situation is not that good. There is lots of unemployment and things seems that will get worst. But we hope for the best. I hope and I believe that eventually we will recover and we will make it. But it won’t be easy and the current government has already started making changes, putting new taxes, but also cutting money from the lazy bastards of the public sector…it was about time! Nevertheless, all these changes and taxes have triggered "angry protests", as you said.
Does this sound eerily similar to the situation in the United States right now? It does and that is what makes it so scary. We need to change course, spend less and the people in power (Democrats) need to realize that living within our means will ensure a future for the country. Spending frivolously and passing expensive legislation that the people do not want or need is a path to bankruptcy. Vote the spenders out.
Posted: March 16th, 2010 under All, Fact, News.
Tags: bankruptcy, Greece, health care, Pelosi
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