The malaise of the Greek economy

23 08 2010

Greece’s fiscal and other problems are by now known to literally everyone. However, the recent developments in that economy make it an interesting subject on which, besides the fact that I have personal interest, I worked on in an Economics assignment during my MBA studying. I post much of that work here, enhanced with my personal and purely subjective point of view.

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What on earth does the EU needs Greece for?

20 02 2010

– What do we need a country full of lazy people that retire at 55 and want to steal our money?

Answer: no clue, why did you put them in in the first place?

I am enjoying lately so much reading what the press is saying about Greece. I once thought we are spending a lot of money in EU products, after all we import everything even olive oil to lower the quality of our own. People in Greece are largely underpaid (1500€ is an excellent salary), work long hours without overtime compensation, will never retire and if they do they’ll do it for peanuts. Their EU peers, they believe, are paid much more, will retire and enjoy their savings in their holiday house in Greece.

Now it seems things are not like this. It is the Greeks that conduct a lucrative life on the backs of the europeans. Life is easy in Greece and money pours in. Then why don’t they all go to Greece? I’d like to see that.

So much for the solidarity in the EU. Whenever there’s trouble, press and folk ask for somebody’s head. This time it’s the Greeks, as a nation… They’re all so bad…