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More likely questions, as I have no knowledge of Greece, its economy or politics.
● Tourism to Greece got hit due to great fires in recent years, origin was arson for real estate speculation?
● Great expenses for infrastructure to hold the Summer Olympics (cheating by Greek athletes a warning sign)?
● Entrance to euro zone was based on forged financial statements
● Losing competitiveness to Turkey because of euro value, perhaps Greece shouldn't block Turkey to EU (Cyprus)?
● Extensive black market in Greece to avoid paying your share of taxes .. more wealth to some, a greater deficit for the government?

● Comparison to Italy where the mafia billions keeps the economy afloat.

"But I will not let myself be reduced to silence."

'Sapere aude'

by Oui (Oui) on Fri Feb 12th, 2010 at 08:12:23 AM EST
Comparison to Italy where the mafia billions keeps the economy afloat.

So Greece is in trouble because it isn't criminal enough? ;)

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt št gmail dotcom) on Fri Feb 12th, 2010 at 09:51:39 AM EST
[ Parent ]
One, what's the relation of fires to tourism? Greece's tourism is 95% on the islands.

Two, the summer Olympics cost $15 billion, and Greece made some money back. A boondoggle? For sure. But, we're talking about a huge budget deficit here. $15 billion is small.

Greece could lift their block on Turkey tomorrow and it wouldn't matter at all, in case you haven't noticed. I would not recommend that they do that, however. Plus, entering the EU for Turkey does not mean Turkey enters the eurozone. The aquis for Turkey will surely contain all sorts of limitations on Turks within the EU. Do you really think Turkey deserves to be in the EU given their invasion and ethnic cleansing of Greek Cypriots and the subsequent refusal to allow their rights to property (a whole other topic, I agree).

by Upstate NY on Fri Feb 12th, 2010 at 10:05:58 AM EST
[ Parent ]

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