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Wednesday, May 16, 2012

Go after the "Drachma Gang"!

Over the last year, I have built up an "email-relationship" with a Greek official who - based on his position - must have very good insights into the reality of Greek political and business life. As mutual trust built up, this correspondence has become increasingly straight-forward as time went by. The below quotes of his emails confirm that.

January 4
"Over and above economics, the important thing for Europe to realise is that it is only our politicians to blame for the impression that they have of Greeks! We are very much willing to work and be productive, provided that the country has a leader that will give the example. Our only chance, therefore, to get rid of this rotten political network is to rely on the Memorandum commands for structural reforms. This explains why the political system is very much reluctant to implement these reforms!"

May 5
"If you read Greek History you will find out that populism has repeatedly ruined the country (1897, 1922, 1944 – 1949....... etc etc).

It seems we are heading for a fall this time, too, because the political system refuses the necessary reforms knowing that the reforms will bring about good results. The good results in their turn will mean that the political system will lose control and this is the last thing they want. Conclusion: “Aprés moi le déluge” as Louis XIV put it! They prefer to take the country down to the drain than surrender its control and lose all their privileges! Mind you that they all agree on these tactics irrespective of what party they belong to. They are all made of the same sort of garbage.

By the way: I always believed that structural reforms are absolutely necessary. I always thought that the politicians will eventually see the country’s benefit and proceed with implementing them. But I never would have thought that they would rather lead the country to disaster than lose their privileges!"

May 16
"You are probably not aware of the so called “drachma gang”! It is a complex of interests composed of politicians, trade unionists, TV channel and newspaper owners and contractors of public works that absorb all EU funds pumped for infrastructure works in the country. All these are hoping for a return to the drachma so that they can import their Euros to buy the entire economy back for peanuts!

If you add to all these the estimated €300 billion gambling for Greece’s default in the international markets you can see why you together with most people think that the Euro supporters are a minority.

Yet, this is not the case. It is simply that the combination of useless or bribed politicians together with the deliberate misinformation of the Greeks makes things look as you think they are. But remember that empty tin cans (a common Greek expression for the useless) usually make a lot of noise...

One thing that you and everyone that cares about Greece could do to help matters is to inform the European public of the situation in Greece. This would help immensely!"

Two things have surprised me about this. First, that there might indeed by such a "drachma gang" in Greece and, secondly, that someone in an official position would be so courageous as to write about the subject in such open terms. 

1 comment:

  1. The Papademos Family ist investit in 20 (american) Billion Euros against Greece. If Greece will be offical bankrupt, the American ( some big banks like JPM, GS etc..) counterpart should pay....
    This is one of the risks for a greek default...no one will pay. Not the banks and not Germany.
    The MONOPOLysts are doing the great game: they want to get the whole thing, in this case Greece.
    Sooner or later another countries.
    The people of course are still part of this so called democratic institution.
    Them is voting allowed if they are brave Democratics further on.
    This is the so called Bank Democracy - pay or die.

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