Instead of addressing the most strategic and operational areas for reform in the troubled Hellenic Republic, Syriza is rushing off to Russia to get more loans. Instead of working constructively with its neighbours like the Republic of Macedonia, Syriza is continuing to block Macedonia's entry into NATO and the EU. Instead of working in partnership with its diaspora, Syriza is focusing on selling state owned assets to foreigners. Put simply, Syriza is not the solution to Greece's deep economic and cultural problems and is unsustainable.

Leaving aside what Wilde thought of those "east of Calais"...

A good article. It is always comforting to realise how much luckier we are in Australia.

However, on the issue of "Xenophobia" (last para) yes Senator Nick Xenophon would indeed make an excellent leader (Demogogue?) of Greece.

Maybe Nick could bear gifts :)

Hi Pete,

By dodging taxes, Greeks have, I hate to say, brought much of this on themselves. They have got themselves into a huge financial hole by doing that and by not developing innovative or niche industries, and they will have to get themselves out of their own mess.

If they want a large public bureaucracy, then the only way to pay for it is to ensure that the Treasury has the resources to do that, and the main way for that to happen is for people to pay their taxes, like ordinary human beings. No free lunches !

I think Nick Xenophon has far more sense than to get involved. But I'm sure he would sometimes weep for Greece, as we all should.

Joe

Hi Joe

Well the Greek Olympic Committee have always claimed the Summer Olympics' permanent home should be Athens. What with its efficiency the Greek economy could be enriched by the rest of the world paying homage to it.

As well as German reparations to Greece for invading it in WWII the kids of the Roman Empire could pay for centuries of occupation coupla thousand years ago.

On the issue of Christianity I'm unsure whether Cardinal Pell (for the Vatican) or Byzantium, just don't mention the Turks, should pay Greece for destroying the religion of Zeus and the Aphrodisiacs.

All for Nick and his junta to work out.

Pete

Pete, yeah, that might get them into an even deeper hole - how much did the Olympics cost them ? If they had to do it every four years, they would never get out of debt.

As for reparations, how far back can one go ? Perhaps Greece could sue Bulgaria for invading it during WW II - and then start another war with Turkey by demanding reparations for the 'removals' of 1915 and expulsions of 1920-24.

I suppose it's easy for us, we've had it so easy here, but the only ones who might win out from all the re-igniting of old wars, and the re-balancing of the books, would be the big accounting firms.

Joe

Greeks were not living beyond their means. The standard of living of the Greek people was modest by European standards. When the GFC struck, Greeks worked longer hours by EU and world standards and their welfare and social spending budget was the second lowest in Europe after Albania.

However, its military budget was the highest of all the EU countries – up until 2009, €10 billion per year (declared – undeclared corruption accounted for many billions more). For decades Greece spent 7% of its GDP on defence, compared to other European countries, which spent an average 2%.

Greece’s decades-long, excessively high military spending has been in direct reaction to the series of 1960s socialist uprisings against the Greek oligarchy, in which massive amounts have been needed to finance decades of military repression. Greek military contracts have always been the greatest source of corruption, payoffs, kickbacks and secrecy.

As right-wing oligarchs have found throughout history, crushing the left is a very expensive business, but very lucrative for those buying and selling the weapons.

With the appointment of the ultra-right-wing Greek Independence Party to head the Defense Ministry in the Syriza cabinet, I don’t hold much hope that Syriza will break the decades-long stranglehold of the Greek military over public spending.

In the meantime, the Western media have been granted open slather to blame it all on a fictitious scenario of greedy Greek workers and pensioners living beyond their means, who are now paying the price for their profligacy

Where is the plan indeed? What Greece needs is a miracle, not an economic plan.

Let us look at the brutal economic reality of Greece as a country:

No mineral resources to speak of and limited and very basic agriculture due to a lack of arable land. Therefore little of value to export.
Tourism seems to be the only way of attracting foreign currency.

Add to this an inefficient and widely abused social security and tax system and you have a recipe for economic disaster.

The past practise of putting an unsustainable standard of living on the credit card by continually increasing borrowings with no plan to repay or reduce those debts was irresponsible. Demanding that those debts be forgiven is unrealistic and downright dishonest. Why should the Germans or anyone else forgive those debts and saddle their taxpayers with the loss? They didn't create the problem.

Lacking the stomach to face reality and bring in real economic reform the Greeks have simply elected a bunch of clueless populists and buried their heads in the sand in the vain hope that their fools paradise will continue.

It won't.