Greece: Where Tax-Dodging Is a National Pastime

Silver Prices Newsletter (02/22/2010)
"One of our readers sent us this article that appeared in The Daily Mail about life in Greece, how it was, how it is and what they now face. Many will read this and think that this situation not only exists in Greece but they are also surrounded by similar examples of the same thing in terms of government mis-use of tax payers money and employees who pull every fiddle imaginable.

However we see it as both a dilemma and also an opportunity for the European Union.

The immediate decision facing the EU is do they support Greece or set her free from the union. To support Greece, the other members of the union will need to cough up the financial support to keep Greece afloat for now. To set Greece free will only lead to the next weakest country in the union becoming the target of the fund managers who are looking to make a killing, much the same as life in the jungle where the predators prey on the weakest in the herd. The solution, for now, would appear to be some sort of EU bailout followed by decades of austerity measures for the Greeks, not exactly the European dream that they signed up for.

The opportunity for the EU is that they could use this situation to implement laws to ensure that that an individual country can never again be singled out for such treatment. They could eliminate all individual sovereign debt and roll it into one European debt so that treasury bills, etc., were backed by the EU and not just one member state. The opportunity to seize more power must be very tempting indeed. As someone said recently, 'never let a good disaster go to waste'

Having visited Greece many times I would dearly like them to retain their individuality, unique character and indifference to authority, as the world has enough conformists at the moment.

Please click here here to read the article."

 PRINT THIS PAGE   EMAIL THIS PAGE

Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.

Related Quotes: