At last I am free of what my great friend Renaud calls “the dictatorship of email”.
When you owe the bank a little then it’s your problem. when you owe them a lot, it’s theirs!
Greece is tiny country on a European and world scale. Why is it in the news so much? This is certainly a reasonable question.
The only way to bring a country or corporation back from the dead is to halt all payments to creditors – the Greek Government is spending only slightly more than it earns (3% of GDP) if interest and loan repayments are ignored and with military spending at over 3% (double the NATO average) this is easy to address.
The simple answer is because the Government can!
Since the beginning of time, taxing income or spending has been easy. Taxing wealth or corporations is tricky, the two are linked, both have vast resources that they bring to bear behind their lobbying and both pay huge amounts to tax accountants to reduce their tax bills and hide their wealth.
This morning on BBC Radio 4 we were treated to the roving reporter (I can’t call him a journalist – sorry), John Humpreys was interviewing some Greek youth. One mentioned that Greece has the largest army in Europe and this warranted no comment from Mr Humphreys. What is true is that Greece has consistently pent almost double the EU average on defence in the last 20 years. Continue reading “Where have all the “questioning” journalists gone?”