A reply to an emotional blogger
R. G. Danon
July 28, 2012 at 1:37 pm
Greece does not need compassion it needs a clear vision and a road map to prosperity. Unfortunately, the vested corrupt interests of the few have resulted in policy decisions with disastrous effects for the country and its citizens. It is not the implementation of the evil Troika directives but unequivocally misplaced Greek government choices of where to cut and whom to tax. When this selection had the inevitable depressive outcome, politicians blamed the Troika, the ultimate scapegoat.
Greece needs to understand its problems, a made in Greece unsustainable deficit which was condoned long enough to nurture a second monster in the way of its debt. Both of these are clearly successive Greek government creations being blessed of course by the easy money of the EU.
As masters of our own predicament and beneficiaries of unprecedented debt forgiveness, we need to ask ourselves what is the road to restoration, embracing EZ membership in a world economic environment hostile to new initiatives.
1- Greece needs a simple tax system which punishes tax avoidance and evasion not based on Objective (miscued) values or Inferred income which are both subject to increased bureaucracy and distortions. A system conducive to the promotion of private investment.
2- Greece needs to become extraverted to promote foreign direct investment because it’s highly expansionary and deficit reducing particularly through the process of privatizations. To claim this would be a fire sale of Greek government assets is a complete misrepresentation of facts playing to the aspirations of political demagoguery and private interests.
3- Greece has to reduce and shut down redundant public companies created for no other purpose but to gain politicaly leveraged votes, a major misallocation of scarce resources.
4- Above all Greece’s legal system must be simplified protected and enforced in every aspect of everyday life. The notion that illegal behavior remains unpunished is the incubator of corruption.First & foremost though Greek politicians need to take this initiative by abolishing immunity, as the minutest symbolism of the sacrifices demanded of its people.
Greece can. Will it?
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