On the euro, Athens crime, banks, the haircut, buying Greek, suspects’ names
Unless police are given greater authority to question and arrest, draw their arms for legitimate self-defense, crime will continue to spiral. For too long politicians have drawn the human rights card and used the fear of a police state as a trump card against getting tough on crime. It is time the pendulum swung the other way. Otherwise property values will go down, the tax base will erode and Athens will just turn into a mega-slum. If that happens honest citizens should then be allowed to arm themselves to protect their property. Politicans and this banana republic state and its inefficiencies are responsible for this predicament.
Murder suspect linked to child porn
Could you explain why the suspect has not been named? I live in Canada; the suspect?s name certainly would have been released here. I note that there is no problem releasing the names of tax evaders etc. I would appreciate any insight.
Re: Phillip Andrews
Dear Mr. Andrews, I must make a comment of my own on your initial post. Greeks are not «stuck in the past,» as you have made it out to be. I, an Australian-born Greek living in Chicago, am well aware of how and what Greeks think. I go to Greece a fair bit, more than most, and let me tell you the Greeks are extremely hard-working and very much in the present. Please don?t get me wrong: I respect your opinion and as an educated man you respect mine, however, I must ask you on what facts do you base your opinion? The media? The Germans who now think they can resurrect a fallen empire? Most Greeks and especially non-Greeks will disagree with you on this matter. Yes, Greece has its fair share of issues, even a blind man can see that, but which country doesn?t? Here in the USA where I live, believe me, we have issues too. So are you saying that the Americans are stuck in the past?
Mr Andrews, please, out of respect for yourself and society, be choice with your words.
Germany and the ?empire? approach
Shame on the country whose ambitions are to dominate the EU! Yes, they are a powerful nation and they make world-class products, but one must ask why the Germans are so persistent about imposing reforms on the Greeks. Do they have an agenda of their own? Is it because Greece refuses to purchase more military equipment from them?
I love Germany but there is a little-known fact about Germany. During WWII, Germany destroyed much of Europe, especially Greece. Greece was the only country not paid its dues from WWII! Nothing, not one single cent that was promised, ever made it to Greece to help restructure what the then government and its people had done. And now the Germans have the hide to ask for money from the Greeks? Dropi sas.
Made in Greece
It?s really very simple. If Greeks can make anything as well as anyone else then why not?
What you have to watch out for is high quality at affordable and competitive prices, production that abides by health and safety regulations, production that is reliable and consistant, and does not cut corners for quick profit. Production that achieves all this as well if not better than its main European competition. And a Greek R which collateral). Instead, Greece should consider making a big move.
A big move would be as follows: rejection of the offer of a haircut! A haircut is always a bad deal for lenders but, in the case of sovereign debt, it is a far worse deal for the borrowing country! Greece will not be able to shed the stain of having needed a haircut for many generations to come!
Instead, Greece should offer, in lieu of a haircut, her creditors Evergreen Bonds (perhaps with a maturity of 12.12.2099). That way, creditors continue to hold a 100% claim on their books but Greece doesn’t have to pay those bonds in the lifetime of anyone living today. Interest on those Evergreen Bonds should be capitalized for at least the first 10 years.
Your article states: «There is no doubt that certain banks went well over any limit regarding non-transparent practices and mismanagement.”
How on earth can anyone in their right mind advocate handing over banks to the state? I wouldn’t trust any of the politicians to handle matters differently from the way the banks are supposed to have done.
Proper reform, proper regulation and a clean sweep of the liars and cheats in high places is the only way in which the banks and for that matter Greece will survive intact.
The new coalition is leaving it very very late to convince the people that real and radical change for the better is afoot. Same old stories, same old lies, same old in-fighting. It’s exhausting just to read about it all!
To Mr Dimitrokalis, hotel owner in Sanorini
How do you feel now, Mr Dimitrokalis?
When we met last year and when I told you that the big question now is not ?Will Greece default?? but ?When??
Then, you didn’t believe me, but now, when Greece is very close to exiting the EZ and EU and when the country suffers one hard default (I don’t know what to call a 50% haircut), you should trust the clever guys a little bit more, despite the fact that they are foreigners and despite the fact that you own some hotels!
Simply selling and buying some goods doesn’t mean that Greece has economy. In the 21st century, «economy» means much more than buying and selling goods. It’s a long story and I don’t have time to explain it.
And in the end, less «psemata,» more trust and hard work (to all Greeks).
Eighteen hotels closed
Could anybody name these 18 hotels? I could not find a list anywhere.
The euro rallies
If I recall correctly, at the time of its introduction, one Euro bought about 1.18 USD and very soon thereafter it bought only 0.90 USD. No one at that time predicted the demise of the Euro because of that decline.
Today, the Euro buys about 1.31 USD, quite a bit more than it bought at its inception. The lower the Euro, the more competitive European products become outside of Europe and that is only good news for Europe.
So from that standpoint, it wouldn’t hurt European economies at all if the Euro returned to the 1.18 level of its inception. And if it went below that, Americans would really start importing European products (and possibly Greek products, too!).