Monday, June 20, 2011

The Greek problem in a nutshell

* Greece no longer has a functioning business model (mostly services; very little manufacturing; overpriced; underefficient; corrupt; etc.)

* the government as well as the private sector cannot survive without money from abroad

* without a change of the business model, it will get worse and worse and worse

* the government needs to continue to save but the private sector needs to be restructured from A-Z and will need an industrial development plan ("Marshall Plan") if Greece is to have a chance

* if Greece is not given that chance and/or if Greece doesn't use it, then the country where democracy was born will be the country where the Euro dies

Other than that, Greece will continue to be a beautiful country!

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