Let?s assume that Greece?s lenders want to make sure they get back their money while making the country more competitive. In the first two years under the troika?s supervision, Greece was allowed to raise taxes indiscriminately and make horizontal cuts, while at the same time avoiding reforms. Having lost patience with our incompetent and lying politicians, the troika is now pushing extreme measures such as raising objective property values or abolishing the 13th and 14th salaries.
Some see an attempt to pull the plug on Greece. This, however, would push hard-working taxpayers on the path of frustration. Further damaging those who live with the fear of unemployment and private bankruptcy is not the solution. The private sector works best when responsible employers negotiate with responsible employees. We must help the jobless by streamlining the labor market, doing away with the distortions imposed by vested interests and thoughtless unions. The root of the problems lies with exorbitant wages and benefits in public utilities, collective sector contracts and a wasteful state. This is what our politicians must cure to reboot the real economy.