The world is in the middle of a major financial crisis. I am not going to labour on this, but when the US Treasury is contemplating acquiring the majority sharehonding in Citibank, something really major is happening.
Greece is also experiencing problems, we say that when the US coughs, Greece has pneumonia! It may be even woese than that, Greece is a small country.
However, in my view the crisis in Greece is not so much financial, as much as it is a crisis of state institutions.
It appears that the Greek State is the very sick and incompetent and is now in the process of collapsing!
On Sunday afternoon a major criminal figure, Palaiokostas, escaped from prison in a cinematic way, for the second time (first time was 2006).
This incident gave rise to a lot of negative publicity about Greece. This comes after the 6th December murder of a 15 year old boy by the police.
In between the two milestone incidents, we have signs of the resurgence of a militant city guerrila group, that has attacked policemen and attempted to blow up the Citibank building in the northern suburbs of Athens.
We need to stop the dead-end discussions about who is to blame, and accept the fact that over the last two centuries the Greek State that was built is corrupt, inefficient and requires a major overhaul.
This covers all aspects of the State’s activities, I am sorry to say that there is nothing the Greek State does well.
The Greek tax payers pay an awful lot of money for a Public Sector that is not performing at all! The major political parties spend all of their efforts thying to get elected and stay in power, but none of them is doing (or has done) something about the transformation of the State.
Even today, the Union of State Employees had a meeting with te Prime Minister, asking for more money and reforms! What a joke! This is much worse than the escape of Palaiokostas from prison!
The people who perform minimally, who have a job for life whether they do a penny’s work or not, are asking for more money and put on the cherry of “reforms”!
If no action is taken now and the politicians continue to play the game of favouritism, the State will collapse for good with very serious consequenses.
Of course, it could be that the Eurocrats will give the solution!
Believe it or not, the EU is sending a team of technocrats to monitor the fiscal measures in the Ministry of the Economy. They will camp next to the Minister’s Office and monitor and control progress.
If we extend this logic, we can outsource the Administration of the Country to the EU!
No matter what will happen though, I am very sceptical indeed about the prospects of the country while this corrupt and incompetent State Apparatus continues to exist.
PS. I do not know why I wrote this in English, but so be it…