Monday 29 June 2015

Greece, what might have been.

It seems to me that the people, the financial players and the financial experts seem to have been hatched from a different egg.

Their egg doesn't contain the normal the albumin to help the blood carry nutrients to other parts of the body. Its as if it is independent of the body, seeing its function as maintaining its own ideas of what the blood should carry, even when the body at large is failing.
Like a religious mantra the aim of finance seems to not based on the rationale of the "patient needs" but is a sort of sacrament, a form of gods grace, only given to a believer who submits. Like any religious tenet, the financial rules have little sympathy for situations where their lending criteria is flouted, we hear little in the financial dialogue to describe the misery which goes on behind the scenes, caused by financial orthodoxy 

Well insulated, the suited executives and the advisor's are never heard to show their concern for the ravages that their rules prescribe. Arbitrary time scales are in place as if the "lender" were also on the bones of a dilemma, itself needing repayment to meet its own creditors.
It is claimed that the Greeks have not been serious about looking to rectify their financial construct, especially the generous pension provision where people can retire as early as 50, the avoidance of tax by the workforce, especially the rich and powerful was seen as a traditional and a cultural anomaly
This disconnect from the payment of taxes, necessary for a functioning democracy was in part the result of years of plutocratic rule by a limited influential group of Greek families, oligarchs who's rule, until recently was all powerful.
Germany and France waved the unsuitability of Greece to become part of the EU aside since this was the pre Euro zone period and the obvious unsuitability was avoided because of their blinkered political objective.
I am not privilege to the current picture but it does not seem to me impossible for the ECB to have sat alongside the financial industry to ensure, over a reasonable time, that the tax take and the pension gap was brought slowly into line whilst effectively placing a repayment moratorium on the Greeks, removing the impossible pressure wrought on the country by the creditors.
This is all in the past and now it looks as if the Greeks can have a fresh start and seek their own future in the world at large. I for one would spend a holiday there to help.

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