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Thursday, 25 June 2015

Greece in the euro

greece was the 10th country to join the EEC in the early 80's and followed Britain, Spain and Portugal arrived years later. The Euro project wanted the Greeks in from the early start but what went wrong was the relationship between the country and the single currency. Today we have a left wing government incapable of understanding the reality of what is happening with an Essex university graduate as it finance minister who lives in a world of fantasy.

I will declare my support for PASOK in advance for the avoidance of any misunderstandings. The fundamental problem with a country like Greece comes from the actions taken by previous governments in the last 20 years. They borrowed large amounts of money to increase the public sector. This allowed them to have 15% of the population working for government and attracted more votes. They forgot that at some stage the state would have to pay back the loans. The shit has now hit the what's it and they are all running around blaming everyone else. Huge reforms need to be imposed to ensure that the economy recovers and that a sensible tax system similar to PAYE is brought it. It will be painful but it needs to be done. The solution to the problem is to recognise that a populist government will not be able to resolve long term structural problems. There should be a new general election so that the people understand what the real choices are...

Nick Venedi

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