Monday, April 30, 2018

OpEd: There was no "normality" in 1977-2015 Greece to return to

Οι περικοπές στις συντάξεις θα δώσουν την ημερομηνία των εκλογών -Η κυβέρνηση αγχώνεται και ψάχνει για παράταση

Πηγή: Οι περικοπές στις συντάξεις θα δώσουν την ημερομηνία των εκλογών -Η κυβέρνηση αγχώνεται και ψάχνει για παράταση | 

Λέξη: τραπεζοκόμος
Ετυμολογία: [<μτγν. τραπεζοκόμος < τράπεζα + κομέω]

Αυτός που φροντίζει για το σερβίρισμα του φαγητού, συνήθως σε ιδρύματα, στρατώνες κτλ.  

The Greek debt existed even before Harvard economic PhD Andreas Papandreou (who served his US military duty as a waiter in army camps) skyrocketed it again.

Instead of creating unemployment and/or jobseeker's allowance, his team gave its mass of voters permanent public sector jobs, thus balooing the state mechanisms.

A former Marxist and son of a PM, Papandreou thus doubled the debt.

His son won the 2009 election. He was faced not only with an enormous debt but also a very large budget deficit.

He went to the island of Kastelorizo to announce to Greeks that he was inviting the IMF and the Eurozone governments to help him out.

No wonder, he, same as Kyriakos Mitsotakis, are sociologists, one from Amherst and other from Harvard College.

Earlier Germany educated Kostas Simitis (law) with a Master's in economics from LSE had mismanaged Greece's entry in the EMU and the Euro.

What should Papandreou done?

Well, call bankruptcy of the 1832-2009 state and start the state afresh.

He had neither the guts nor the knowledge or skills to do it.

Since 1981-2009 pensions were state ran (IKA, TSMEDE, TEVE, etc), they should have been declared bankrupt.

The 1981-2009 bonds investors held had the Greek state as the guarantor.

Greece did not have many assets abroad to be seized by investors (even Olympic Aiways had been closed).

Thus like US citizens can do, the Greek states should have declared bankryptcy, liquidate assets, as eg I'm doing now, pay part of the debt and then found a new state, Hellas Inc.

Of course, state pensions should have been removed. 

And replaced with a state pension, a state joblessness ben and a jobseeker's allowance.

Instead with the guidance of the IMF and the Euruzone and its ECB, Greece's GNP took a huge dive and the unemployment rate jumped to 29%!

Thus, of course in 2018 pensions shoud be cut.

Nick Panayotopoulos 
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