[lbo-talk] "I Won't Pay" movement grips debt-ridden Greece

[Fernando Cassia]

On Sun, Feb 27, 2011 at 4:01 PM,  <123hop at comcast.net> wrote:
> Michael Lewis had a long article in Vanity Fair that argued Greece's problems stemmed from the universal refusal to pay taxes and an actually bloated govt payroll. Public employees making 3X private incomes.

Since when are public employees salaries the indicator of health -or
lack thereof- of an economy?. Fiscal surpluses or deficits are, as
well as trade surpluses or deficits.

Government expenditures is half of the picture. Taxes and economic
policy -or lack of-  is the other half. If the country imports more
than it exports, then the money has to come from somewhere ie debt.

Maybe they´d need to get out of the Euro zone and have a more
competitive exchange rate and thus more exports and more jobs?.

http://www.guardian.co.uk/commentisfree/cifamerica/2010/nov/22/ecb-ireland-bailout-argentina

http://baselinescenario.com/2010/04/06/greece-and-the-fatal-flaw-in-an-imf-rescue/

Just sayin´
FC