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  1. Wealth
June 21, 2011

Kill or Cure for Greece

By Spear's

Greece must curb government control, sell assets and restore a private economy to their moribund old style Soviet system

Greece got lucky. With the socialist saint, Jacques Delores in power in Brussels, that capital of anti-liberalism, the country that gave birth to Aristotle and Euripides but whose sun was long set, was embraced as an EU member with no regard for that sad reality.

With Marxism ministers imposing a bureaucratic, bloated and centralized style of government, Greece was never ready for full membership. Easy EU money was used to fund this socialist Utopia, with no nod to fiscal responsibility. So it was jobs for all; a nanny state poking its umbrella into every crevice of daily life, and the consequent debt.

Now with the hand wringing over bail outs and faux austerity, denial continues. The country is bankrupt, Argentinean style. Approaching €350 million of debt and stagnate economic model, it would be a remote estimate to see them pay back 50 cents on the euro.

There is only one solution: Greece must curb government control, sell assets and restore a private economy to their moribund old style Soviet system. Like all socialist systems there is a detachment between the official economy and the real one. No one trusted the official figures, so private wealth is offshore. No one pays their full taxes and cynicism, which underpins all socialist systems, abounds.

Labour markets must be free of restraint and financial burdens, punitive taxation must make way for an incentive to wealth creation, as it has in Hungary, and the national debt must be recognized for what it is… in essence, worth a lot less than the EU pretends! Following the suggestions of the IMF simply delays the descent of a country  sinking into the sands of the  social ‘democracy’ used to undermine Greece by its leaders.

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