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*I have just watched a documentary regarding Greece 's financial
and am appalled ! These are the why's and how's that this
historic and beautiful country came to grieve.*



*Bureaucracy: * *Greece**'s bureaucracy is famous in the whole
of Europe ! To open a cafe or pub there are 25 processes to go
through* *!! This is a country of rules and regulations.*



*Bloated civil service: There are 1.05 milliion civil servants
(excluding police and armed forces) . The population of Greece
is only 10 million !! More than 10% are govt servants !! Salary
increases every year and benefit for civil servants in Greece is
one of the best in Europe !! More and more money is needed to
upkeep this bloated civil servants . The retirement age is 62
yrs old.*



*Corruption: Greece is the most corrupted nation in the
Eurozone. Citizens pay "under table " money to:*

*# admit into a public hospital*

*# pass a driving licence*

*# to enter public service*

*# renovate your business premises or your home*

*# avoid income tax*

*Every govt project is awarded to political cronies and at
hugely inflated prices ! Transparency International compared the
prices of the construction costs of stadiums built for the
Athens Olympics recently with similar structures in China --500%
more expensive than the Chinese , compared to Los Angeles and
Sydney -- 50 % more expensive !!! All these with tax payers
money ! and borrowings !!!*



*Tax evasion: Officially 80% of its citizens are supposed to pay
tax but only 37% are doing so. Big businessmen and corporations
have refined tax evasion to a fine art ( or have the tax men
taken some coffee money ? ) *



*No transparency in governance: The politicians and bureaucrats
falsified economic data and painted a rosy and manageable
picture while the economy was rotting away . *



*Unabated borrowings:** Meanwhile, the politicians and
bureaucrats continue to issue govt bonds to keep afloat, series
after series. They were trying to cover up the financial mess
they have created creating one big hole to cover up the previous
!!*



*Lacking political will power to reform: To keep hold on to
political power, politicians are prepared to lie, commit
economic and political fraud. If reforms were taken some five
years ago , the country need not go bankrupt and its citizens
need not suffer so much. Political expediency and greed to
political power over-rides everything and hence Greece is now a
bankrupt country. Luckily, it is part of the European Union and
its currency is EUROs, otherwise Greeks will have to eat grass
to survive !! *



*Laid back attitude: Tourism is THE ONLY industry in Greece and
over the years the Greeks have had an easy time. Many flocked to
see the historical sites. enjoy summer vacation on the islands.
But they forgot that not many tourists will returned after
visiting the sites --there are so many other tourists
attractions in the world, maybe more exotic and perhaps cheaper
!! So once tourism vanes and couple with higher costs of living
--the Greeks could not and refused to adapt and transform
--still partying and having a nice time -- maybe the Greek Gods
will bless them !!! Greece have no natural resources, no
electronics industry , no R & D --no anything !! They were so
laid back --cannot see what is coming and crashing down on them.
Even now, the civil servants refused to take a pay cut -- the
world owes them a living !!*



*Poignant Conclusion:*

*The producer of the documentary had hired a raxi driver to go
around while doing this documentary. The taxi driver had studied
economics for 4 years in US and this was his parting words:*

*"**My biggest mistake was returning 15 years ago, I should have
stayed back in US. My nationalist instinct made me returned. The
politicians screwed me. I loved my country but my country did
not love me !!!!*




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do góry