The Greeks have frequently flirted with Communism in recent 20th century history. They are perceived as a bureaucratic and corrupt nation.
The Greeks simply expect the other person to pay for their socialist lifestyle. Even Greek millionaires were tax-exempt prior to the financial crisis. Bread makers and Taxi Drivers are considered “Artisans” – and can retire on a generous pension before they reach their sixties!
Joining the Euro zone must have seemed logical, widening their highly subsidised dependencies across 27 wealthier nations. The Germans, French and English would happily underwrite their profligacy.
So when the world’s economy imploded, their assumed dream of offloading their deficit became their nightmare. The troika, dominated by Frau Merkel forced a new policy on the Greeks “austerity”!
It hasn’t gone down well. Full of righteousness indignation the far left Syriza Party have roused the bloated public sector blob into a revolution. Tomorrow (Sunday 25th January 2015) will produce a Greek government headed by yet another “something for nothing” regime. Syriza will demand those Euro Zone nations who have paid the Greeks wage bill for 3 years now renegotiate, or, as expected, wipe out the debt. This is yet another example of Socialism in action!
A Greek exit (Grexit) from the Euro Zone is anticipated over the next few months. What lies in store for the Greek people is uncertain. It won’t be pleasant or easy, but we can be certain Spain, Italy and Portugal will be watching with interest.
We shall update this story with exit polls and the eventual result as it happens.
BREAKING: Official in Greece’s governing conservatives concedes defeat to the radical left Syriza party: http://t.co/uTqlBNFRGQ
— The Associated Press (@AP) January 25, 2015