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June 29, 2015

Greece ran out of its own money a long time ago and now,


as Madam Thatcher warned, it’s finally running out of other people’s as well, unless the West decides to triple down on it’s lost bet.
No country that employs 75% of its citizens in make-work government bureaucracies and produces nothing except spanakopita is going to be – to put it in modern terms – sustainable.Michelle Obama's Mirror

Posted by gerardvanderleun at June 29, 2015 10:52 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

Will the Commies uh, er, progressives get a clue from this? Of course not. That a country does not produce anything they can sell to others except olives and olive oil, means nothing to them. Money can be printed, can't it? That's their solution - always.

Posted by: Jimmy J. [TypeKey Profile Page] at June 29, 2015 4:15 PM

Or borrow from the Germans. Oh, wait...

Posted by: waltj [TypeKey Profile Page] at June 30, 2015 11:57 AM

"How can something like this happen without prior warning?" asked Angeliki Psarianou, a 67-year-old retired public servant, who stood in the drizzle after arriving too late at one empty ATM in the Greek capital.

To help put this in perspective, a few numbers. Greece is on average having 1.3 kids per couple; in other words, each family is having fewer children than parents. For every 100 grandparents, on average it adds up to about 42 grandkids. Greece is losing population, rapidly.

However, government workers get 14 checks per year, and keep getting that after they retire - at age 58 - until they die. Each year, more government workers are added to the payrolls, and more retire. For many public service workers in Greece, their work day ends at 2:30 in the afternoon. Just under 23% of the population of Greece works for the government. This from a people who recently took to the streets protesting their work week being raised to 40 hours.

How could this guy NOT know this was coming?

Posted by: Christopher Taylor [TypeKey Profile Page] at June 30, 2015 1:00 PM

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