COMMENT

No more handouts

Amendments to laws that are intended to serve “special purposes” are one of the main factors that contributed to the Greek economy’s meltdown. Nevertheless, they have made a massive comeback and are normally something of a surprise when they come to public attention.

Amendments that relate to the interests of large monopolies always pique public opinion and are usually viewed with some skepticism – not without good reason. There are also those amendments that grant all sorts of retirement rights to specific categories of pensioners without anyone having previously calculated what this would ultimately cost the cash-strapped taxpayer.

The main reason why the Greek economy imploded was that politicians made a habit of making such promises and granting such favors open-handedly and without heeding the consequences. We must not go down that same road again. The cost of such mistakes has been high enough already.

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