Friday, July 10, 2015

What is the problem with Greece?

Mismanagement. The following are some of the things that contribute to their current crises – My opinin. 

Outrageous pension system. Too many government employees. People can retire at the age of 50 with 95% of their last pay drawn as monthly pension. 

No proper system to collect income tax. More than 80% of the people do not bother to pay income tax. Government does nothing about it. 

Most of the retail sales are in cash. Therefore, very few sales tax amount is collected. 

Concession for needy and poor are exploited. For example, there are special discounts for blind people. Many citizens, including taxi drivers, have a certificate that they are blind. 

People ignore toll taxes. The employees who are employed to collect them do not bother to collect. 

The government borrows money they cannot pay back. 

Borrow more money in order to pay that loan back. 

They are in the European Union and use Euro as their currency. Therefore, they cannot print money to meet their expenses. (Printing too much money will lead to inflation and the money will become useless and no value.) 

Laid back Mediterranean culture. 

Socialist Government.

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33 comments:

  1. Who Posted This?July 10, 2015 at 5:09 PM

    What's wrong with it? Damn near everything!
    The acting.
    The singing.
    The dancing.
    All terrible!

    Wait a minute...did you say Greece?
    Ohhhhh, I thought you said Grease (the movie).
    That's also a travesty.

    Regards,
    Olivia Newton-John

    ReplyDelete
    Replies
    1. SGJuly 10, 2015 at 6:11 PM

      Thanks for your comments Olivia. You're the one that I want.

      Delete
  2. Who Posted This?July 10, 2015 at 5:21 PM

    If I wave my hand, Greece goes down.
    If I snap my fingers, I can make the world’s economy come to its knees and beg for mercy.

    Are you paying attention Greece?
    Of course not…because you’re so poor you can't even “pay” attention.
    (Spain and Portugal – you’re next).

    Regards,
    Angela Merkel
    (the only person in the world who can save Greece)

    ReplyDelete
    Replies
    1. SGJuly 10, 2015 at 6:17 PM

      Thanks for your comments Angela. You are worse than a loan shark. You loan money to Greece. They in turn pay that money back to German banks as repayment of earlier loan. The cycle repeats for ever. And, Greece's loan gets bigger and bigger.

      Delete
  3. Ankita July 10, 2015 at 10:36 PM

    Insightful post. It seems Greece forgot all the knowledge it keeps imparting to the world and now has become a ruined philosopher itself :P

    ReplyDelete
    Replies
    1. SGJuly 11, 2015 at 11:01 AM

      Thanks for your comments Ankita. You are absolutely correct.

      Delete
  4. HariniJuly 10, 2015 at 11:24 PM

    I and husband were pretty much discussing the same. The country needs to get its act together ASAP.

    ReplyDelete
    Replies
    1. SGJuly 11, 2015 at 11:04 AM

      Thanks for your comments Harini. They should get their act together. But they are dictating terms to the lenders.

      Delete
  5. Alok singhalJuly 11, 2015 at 9:35 AM

    It is all messed-up there. I would classify it as a classic case of non-functional government.

    ReplyDelete
    Replies
    1. SGJuly 11, 2015 at 11:04 AM

      Thanks for your comments Alok. Yes, it is very much a non functional government.

      Delete
    2. Alok singhalJuly 18, 2015 at 8:33 AM

      Welcome :)

      Delete
  6. Destination InfinityJuly 11, 2015 at 10:05 AM

    I don't know much about this financial crisis to comment about it. I sure learned something from your post.

    Destination Infinity

    ReplyDelete
    Replies
    1. SGJuly 11, 2015 at 11:06 AM

      Thanks for your comments Rajesh. This Greek situation - sometimes I think of Tamil Nadu where almost everything is freebee.

      Delete
  7. Shilpa GargJuly 12, 2015 at 5:08 AM

    Oh My God!! What a mess this country is in! No wonder, they are in this such a state. An insightful post.

    ReplyDelete
    Replies
    1. SGJuly 12, 2015 at 11:31 AM

      Thanks for your comments Shilpa. I am glad you found this post informative.

      Delete
  8. AnonymousJuly 12, 2015 at 6:39 AM

    I wasn't aware of any of these. Mismanagement seems to be a universal problem. P.S- I wonder what happens to term 'Greek God', or will that get replaced by another, more economically viable cousin?

    ReplyDelete
    Replies
    1. SGJuly 12, 2015 at 11:33 AM

      Thanks for your comments Sweety. Here, mismanagement is beyond repair. Hope Goddess Athena gives them wisdom and courage.

      Delete
  9. SGJuly 12, 2015 at 11:40 AM

    Thanks for your comments Ashwini. There is a few differences between India and Greece. In India, government pension is not that outrageous. Also, India exports lot of stuff and get revenue. Lot of Indians are lazy but not that lazy like the Greeks. Finally, India has the ability to print the money (Indian rupees) if there is a need. (However, that will lead to inflation and the money will lose its value.)

    ReplyDelete
  10. Ph_July 14, 2015 at 8:25 AM

    Informative post.
    do not have any opinion on it.

    P.S why you did not answer the mail?

    ReplyDelete
    Replies
    1. SGJuly 14, 2015 at 8:41 AM

      Thanks for your comments Ph_. I am glad you found this post informative.

      Delete
  11. Uma AnandaneJuly 16, 2015 at 11:00 AM

    Not aware of these and you have given a apt word for the problems they face "mismanagement".

    ReplyDelete
    Replies
    1. SGJuly 20, 2015 at 10:03 AM

      Thanks for your comments Uma. I am glad you found this post informative.

      Delete
  12. NoopurJuly 20, 2015 at 12:18 AM

    I never knew this about Greece... thanks for sharing

    ReplyDelete
    Replies
    1. SGJuly 20, 2015 at 10:05 AM

      Thanks for your comments Noopur. And, welcome to my blog. I am glad you found this post informative.

      Noopur, please visit here as often as possible. Thanks..

      Delete
  13. M'Bai MadrasiJuly 23, 2015 at 7:28 AM

    I did read about this, but these facts were toltally unknown to me.

    ReplyDelete
  14. Avada KedavraJuly 23, 2015 at 12:34 PM

    I didn't know much until I read your post. This post was enlightening to me.

    ReplyDelete
  15. eNJuly 23, 2015 at 9:40 PM

    This was quite an informative post :-)

    ReplyDelete
  16. Pradeep NairJuly 29, 2015 at 10:09 AM

    The problem in Greece is not too different from what would happen if a person lives beyond his or her means. Be it a person or company or country, there should be a decent flow of income and a prudent expenditure pattern. If it'sn't there, then will be definitely major problem.

    ReplyDelete
  17. rudraprayagaJuly 30, 2015 at 9:17 AM

    100% I second your findings. One should spend as per the contents of the purse.Nice one.

    ReplyDelete
  18. Sindhu Devi KJuly 31, 2015 at 8:16 AM

    I think, this is the best article about happenings in Greece. I had read a newspaper article that just went over my head. Thanks, SG. TC, keep smiling :)

    ReplyDelete
  19. Shilpa GargAugust 3, 2015 at 9:26 AM

    I came here to read new posts on your blog. But it seems you are on a blog vacation. :)

    ReplyDelete
  20. UnknownAugust 13, 2015 at 10:47 PM

    Added to this I guess they decided to take the leverage of the prowess of Euro while taking a small break (mindfully extended though)..thought could take a nap from the rat race,

    Not viable to blame a socialist govt all the time Man!

    Nice post though.

    ReplyDelete
  21. Ranita SinhaAugust 20, 2015 at 3:36 AM

    Never knew Greece is facing such a crisis..till now held a picture of prestigious and flourishing country as read in books..they do not bother to pay taxes and we are made to bother to pay taxes in every step..

    ReplyDelete