tag:blogger.com,1999:blog-5882645467378797266.post4302511347694196671..comments2023-07-17T11:55:51.363+02:00Comments on ObservingGreece: Uproar About A 616 MEUR Christmas Presentkleinguthttp://www.blogger.com/profile/12491174042954678023noreply@blogger.comBlogger59125tag:blogger.com,1999:blog-5882645467378797266.post-52951530671088221392016-12-22T08:07:03.544+01:002016-12-22T08:07:03.544+01:00@ Anonymous December 21 at 2:15 PM.
For once clear...@ Anonymous December 21 at 2:15 PM.<br />For once clear talk. Greece cannot export because the world's consumers are prejudiced and inferior.<br />That's the way. Damn the passengers and freight, we run the worlds best railway without, and save the marketing.<br />LennardAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-5756075297869470472016-12-21T21:47:23.669+01:002016-12-21T21:47:23.669+01:00I have no idea what Blauel's problem is. Perha...I have no idea what Blauel's problem is. Perhaps "Global Greece" can be of help:<br /><br />http://klauskastner.blogspot.co.at/2013/04/global-greece-effort-to-promote-greek.htmlkleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-26410506202020524152016-12-21T15:24:33.977+01:002016-12-21T15:24:33.977+01:00Kleingut:
But here we have a real case of an Aust...Kleingut:<br /><br />But here we have a real case of an Austrian residing in Mani and he (Blauel) can't even sell to Austria in sufficient numbers.<br /><br />We all agree that Greek olive oil is the best and here we have an Austrian trying to sell it while he displays full knowledge of the mechanics involved. So why Blauel Greek olive oil is not a household name in Austria? Because of the Greek bureaucracy and the usual nonsense? Of course not. So what is the real problem with the Austrian consumer? Perhaps biased against the Greeks who you consider inferior when all available indicators make the Greeks far superior to begin with?<br /><br />http://www.mani-blaeuel.de/en/what-are-the-quality-characteristics-of-good-olive-oil/#.WELcomYEzkM.facebookAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-30853269597057584392016-12-21T14:15:53.787+01:002016-12-21T14:15:53.787+01:00If Greek produce is the best (and I have to agree ...If Greek produce is the best (and I have to agree that is quite good) then how come is not displayed in all Austrian supermarkets as the first choice?<br /><br />You mean to tell me that Austrians would step all over themselves to get the fancy car so that their neighbors think of them as of higher status and when it comes to feeding themselves which of outmost importance to one's health Austrians would opt for lesser product because some evil in-between made the choice for them?<br /><br />When would Austrians get their priorities straight and turn into the Greek Mediterranean diet with force?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-84587986303340914542016-12-21T08:47:32.792+01:002016-12-21T08:47:32.792+01:00This is where your idea about how the business wor...This is where your idea about how the business world works fails. It is NOT the consumers who drive the products on the shelves. Instead, it is the purchasing agents of the large chains. If they list you, you've got it made. If not, you're gone. Obviously, the consumer decides eventually but first you've got to convince the in-between and that requires effort. Austria requires food chains to always list the foreign country of origin. There is produce from all corners of the world (mostly Europe but also other continents) except from Greece and, personally, I think Greek produce is the best.kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-54081939030936130592016-12-20T22:44:15.833+01:002016-12-20T22:44:15.833+01:00Kleingut:
I am ok with the concept of better prom...Kleingut:<br /><br />I am ok with the concept of better promotion. No argument there. So if Austria has such a developed product promotion system why don't you offer your experts for a short vacation to help their Greek counterparts.<br /><br />If Austria wants to help then why don't you put in the sell order for Greek olive oil and then ask the Greek producers to fill it. If you already have the customer base and the correct tactics then let's have an agreement that for every Greek product you sell through your network of contacts you get a 10% commission.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-7526675893060407672016-12-20T22:37:43.840+01:002016-12-20T22:37:43.840+01:00SmithPeter999:
o.k. I can hearyou clearer now. So...SmithPeter999:<br /><br />o.k. I can hearyou clearer now. Sorry for the misunderstanding.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-67246442335937197882016-12-20T18:23:49.745+01:002016-12-20T18:23:49.745+01:00@Anonymous at 5.26 pm
Your comparing the US and th...@Anonymous at 5.26 pm<br />Your comparing the US and the UK as export markets misses reality. There isn't a government official in the US or in a EU country who determines "we will be fair to Greece and buy Greek products". Export/import decisions are taken by the multitude of exporters/importers in every country. <br /><br />I have always argued that one major reason why Greece doesn't export a lot is that there is not much of a structured approach to promoting exports, not much of an export lobby (because the import lobby is such a good franchise). The Greek government organization for promoting exports is very large but very inefficient, if not incompetent (so a Greece trade expert told me). And Greece hardly has any representation in key foreign export markets.<br /><br />The result is that many Greek exports simply "follow personal relations". You have Greek Americans in the US who like feta cheese and try to sell it to Americans - and boom, feta cheese exports to the US explode. You have a large Greek community in Munich - and boom, the Greek Viktualienmarkt is full of Greek products. <br /><br />A structured approach to promoting exports consist of a domestic effort and a foreign effort. The foreign effort is that one has trade representations in all major foreign embassies. Austria, for example, has over 100 such trade offices world-wide. Their job is to seek out opportunities for Austrian products in these markets and to promote them.<br /><br />The domestic effort would require a lean and mean marketing organization but I don't think Greece is anywhere near having that. So special interest will continue to determine that Greece, producer of the finest olive oil, will continue to export such oil in bulk at cheap prices to Italy so that Italy can turn it into shelf-ready products (which Greek consumers may then even import from Germany...).kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-15131809144637082142016-12-20T13:25:04.509+01:002016-12-20T13:25:04.509+01:00Some BOD. You never ask idiots to approve reasonab...Some BOD. You never ask idiots to approve reasonable actions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-22782544935064445172016-12-20T10:05:55.185+01:002016-12-20T10:05:55.185+01:00Nice try with your analogy Klaus, but not quite so...Nice try with your analogy Klaus, but not quite sound.<br />It is not normal for management to grant themselves bonuses and take them from the till, and certainly not when bylaws require that it should be agreed with BoD. How useful it is for Tsipras domestically is to be seen, internationally he has again proved himself unreliable, it may influence ECB's decision on the inclusion of Greece in the QE program.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-78518991490499255942016-12-19T16:23:04.662+01:002016-12-19T16:23:04.662+01:00Here is the verdict on the EU:
It is unreasonable...Here is the verdict on the EU:<br /><br />It is unreasonable to talk of Europe as if it were one entity. It is not, in spite of the existence of the European Union. Europe consists of a series of sovereign and contentious nation-states. The European Union is a schizophrenic entity. It has created a free-trade zone and a European currency, which some members of the free-trade one use and others do not. It has failed to create a political constitution however, leaving individual nations sovereign – and there never has produced a united defense or foreign policy. Underneath the surface of the EU, the old European nationalisms continue to assert themselves.<br /><br />The European debt crisis, which began in late 2009, has exposed the ineffectiveness of the European Union’s governing institutions. Germany uses the EU to secure markets for its exports and when Germany does not get what it wants, it reacts because of its own national interests and with little regard for the economies of the countries on which its export economy is dependent. In 2015, there was some talk of Greece leaving the European Union because it could not afford to pay back its debt. That crisis has been averted for now but continues to loom on the horizon, to say nothing of other states like Italy with worrying economic numbers. Refugees from the Syrian civil war have completely overwhelmed the European Union not because the EU lacks resources to deal with the issue but because the EU’s governing institutions have not come up with a way to deal with the crisis that is acceptable to all members. The Czech Republic, Poland, Slovakia, Hungary and Latvia have all fought attempts by the EU and Germany to force refugee quotas on member states. Freedom of movement even disappeared, with fences being built and border controls reinstated on the Austria, Hungarian, Slovakian borders just to name a few.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-36513585894481033032016-12-19T16:02:46.075+01:002016-12-19T16:02:46.075+01:00Setting aside the fact that Europe never held its ...Setting aside the fact that Europe never held its end of the bargain towards Greece, here are a few tools in Berlin's disposal in curing the persistent German Problem Europe has since 1871:<br /><br /><br />1. Investment in public infrastructure. Studies show that the quality of Germany’s infrastructure—roads, bridges, airports—is declining, and that investment in improving the infrastructure would increase Germany’s growth potential. Meanwhile, Germany can borrow for ten years at less than one-fifth of one percentage point, which, inflation-adjusted, corresponds to a negative real rate of interest. Infrastructure investment would reduce Germany’s surplus by increasing domestic income and spending, while also raising employment and wages.<br /><br />2. Raising the wages of German workers. German workers deserve a substantial raise, and the cooperation of the government, employers, and unions could give them one. Higher German wages would both speed the adjustment of relative production costs and increase domestic income and consumption. Both would tend to reduce the trade surplus.<br /><br />3. Germany could increase domestic spending through targeted reforms, including for example increased tax incentives for private domestic investment; the removal of barriers to new housing construction; reforms in the retail and services sectors; and a review of financial regulations that may bias German banks to invest abroad rather than at home.<br /><br />Seeking a better balance of trade should not prevent Germany from supporting the European Central Bank’s efforts to hit its inflation target, for example, through its recently begun quantitative easing program. It’s true that easier monetary policy will weaken the euro, which by itself would tend to increase rather than reduce Germany’s trade surplus. But more accommodative monetary policy has two offsetting advantages: First, higher inflation throughout the euro zone makes the adjustment in relative wages needed to restore competitiveness easier to achieve, since the adjustment can occur through slower growth rather than actual declines in nominal wages; and, second, supportive monetary policies should increase economic activity throughout the euro zone, including in Germany.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-24809609064274540852016-12-19T14:03:06.371+01:002016-12-19T14:03:06.371+01:00Anon:
I understand the economic theory well enough...Anon:<br />I understand the economic theory well enough and, of course, the facts tell their own story which we cannot deny.<br /><br />In essence, in the long run, the construct of the Eurozone will just never benefit Greece. That is also a fact.<br /><br />When I say Greeks will be Greeks, you completely miss the point. It's not about genetics or racism,it's about history, culture and the entire social system. And I am not putting the Greeks down either.<br /><br />As a matter of fact, I have supported the Greeks 100% in their struggle to make a place for themselves in Europe. I like their culture and the way that they do things. They should not be forced to change just to be able to fit into the system. The system is at fault. It should be able to accommodate the people/nations within it.<br /><br />And that's the problem - we have a dysfunctional supranational economic system in Europe that cannot be fixed, it seems.<br /><br />And while the band plays on, the ship is slowly sinking! Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-36827105128863686372016-12-19T03:09:38.073+01:002016-12-19T03:09:38.073+01:00First, although the euro—the currency that Germany...First, although the euro—the currency that Germany shares with 18 other countries—may (or may not) be at the right level for all 19 euro-zone countries as a group, it is too weak (given German wages and production costs) to be consistent with balanced German trade. In July 2014, the IMF estimated that Germany’s inflation-adjusted exchange rate was undervalued by 5-15 percent. Since then, the euro has fallen by an additional 20 percent relative to the dollar. The comparatively weak euro is an underappreciated benefit to Germany of its participation in the currency union. If Germany were still using the deutschemark, presumably the DM would be much stronger than the euro is today, reducing the cost advantage of German exports substantially.<br /><br />Second, the German trade surplus is further increased by policies (tight fiscal policies, for example) that suppress the country’s domestic spending, including spending on imports.In a slow-growing world that is short aggregate demand, Germany’s trade surplus is a problem. Several other members of the euro zone are in deep recession, with high unemployment and with no “fiscal space” (meaning that their fiscal situations don’t allow them to raise spending or cut taxes as a way of stimulating domestic demand). Despite signs of recovery in the United States, growth is also generally slow outside the euro zone. The fact that Germany is selling so much more than it is buying redirects demand from its neighbors (as well as from other countries around the world), reducing output and employment outside Germany at a time at which monetary policy in many countries is reaching its limits.<br /><br />Persistent imbalances within the euro zone are also unhealthy, as they lead to financial imbalances as well as to unbalanced growth. Ideally, declines in wages in other euro-zone countries, relative to German wages, would reduce relative production costs and increase competitiveness. And progress has been made on that front. But with euro-zone inflation well under the European Central Bank’s target of “below but close to 2 percent,” achieving the necessary reduction in relative costs would probably require sustained deflation in nominal wages outside Germany—likely a long and painful process involving extended high unemployment.<br /><br />Systems of fixed exchange rates, like the euro union or the gold standard, have historically suffered from the fact that countries with balance of payments deficits come under severe pressure to adjust, while countries with surpluses face no corresponding pressure. The gold standard of the 1920s was brought down by the failure of surplus countries to participate equally in the adjustment process. As the IMF also recommended in its July 2014 report, Germany could help shorten the period of adjustment in the euro zone and support economic recovery by taking steps to reduce its trade surplus, even as other euro-area countries continue to reduce their deficits.<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-5717703188694218962016-12-18T17:26:48.571+01:002016-12-18T17:26:48.571+01:00Peter Smith:
I find any articles addressing a cla...Peter Smith:<br /><br />I find any articles addressing a class of citizens such as the Greeks on a genetic basis (in other words that things are happening to the Greeks because they are Greek) as bordering racism.<br /><br />In a free trade zone such as the EU we are told that each participant country seeks prosperity by trading with other participants. So instead of you saying how ridiculous is to compare Greeks to Austrians and vice versa let's try to examine the nature of the Greek-Austrian trade by numbers.<br /><br />Accrding to this detailed table of Greek exports and imports by country ("kata chores" in Greek) we have the following figures for the 9 months ending in September:<br /><br />Greece exported to Austria 154 Million euros of merchandise showing a 5.5% increase over 2015 figures.<br /><br />During the same period Austria sold Greece 336 Million euros of merchandise showing an 11% increase over the same period for 2015.<br /><br />chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.html<br /><br />The conclusion is that Austria outsells Greece in excess of a 2:1 ratio and the ovious question is why? What sort of Austrian goods Greece needs or ever needed in its history? So here we have an example of another preditory country like Germany (in fact arrogant Austrians call themselves the "better Germany") which uses this unholy construct called the EU to take advantage of Greece. The notion of course that if Austria and Greece did not trade they might go to war with each other (which is the whole basis of the european free trade zone) is absurd.<br /><br />Normally when you ask Austrians and Germans: why don't you buy more from Greece in an effort to assist the Greek economy instead of creating this permanent import dependence for Greece which is the cause of collapse for any consumption based economy, the insolent idiots would reply that "why don't you make products we want to buy?" which is a total BS answer.<br /><br />And we know that this is a BS answer because Greece is running now for 3 years in a row a trade surplus with the most sophisticated country in the world, namely the United States of America, as the numbers clearly show below:<br /><br />http://www.census.gov/foreign-trade/balance/c4840.html<br /><br />So fair play to Greece and fair play to America which accepts conditions of advantage for Greek trade as a means of supporting an ally and a friend.<br /><br />So instead of asking the rhetorical question of when the Greeks would behave like Austrians(with the correct answer being never) you should be asking what is the purpose for Greece to get into these abusive trade relationships with EU member states which instead of promoting Greek well being they seek to cement years of dependence for Greeks with trade junkie countries with a catastrophic impact to the Greek economy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-46276122425984708312016-12-18T14:32:53.753+01:002016-12-18T14:32:53.753+01:00Boys! Boys! Boys! Stop throwing stones at each oth...Boys! Boys! Boys! Stop throwing stones at each other and calm down a little.<br /><br />Don't you think it's a bit naive to expect the Greeks to be exactly like Austrians.<br /><br />Read the attached article for my explanation:<br /><br />https://smithpeter999.wordpress.com/2015/08/28/whats-up-with-the-greeks/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-46760413852415312542016-12-18T11:58:27.292+01:002016-12-18T11:58:27.292+01:00Kleingut:
I don't get your comment that tooth...Kleingut:<br /><br />I don't get your comment that toothpaste bought in Greece is made in Brazil. The Colgate toothpaste I buy at Vassilopoulos supermarket says in fine print that the production is made in Poland.<br /><br />And why do you assume that producing Colgate toothpaste in Greece makes any sense? Why not in Turkey?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-17441207215392231502016-12-18T00:40:13.600+01:002016-12-18T00:40:13.600+01:00Kleingut at 9:15:
Where do you see the tremendous...Kleingut at 9:15:<br /><br />Where do you see the tremendous effort?<br /><br />http://www.tradingeconomics.com/macedonia/foreign-direct-investment<br /><br />and,<br /><br />http://www.tradingeconomics.com/bulgaria/foreign-direct-investment<br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-72579501055147569132016-12-17T22:10:59.805+01:002016-12-17T22:10:59.805+01:00Btw you do know that e.g. FYROM has more or less t...Btw you do know that e.g. FYROM has more or less the same unemployment rate with Greece absent membership in the €Z, absent such an existential macroeconomic crisis etc, do you?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-57307196458167994092016-12-17T22:06:35.201+01:002016-12-17T22:06:35.201+01:00o.k. we get it. Greeks are conceited amateurs and ...o.k. we get it. Greeks are conceited amateurs and Austrians sophisticated Harvard graduates. I wonder who really has the inferiority complex!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-20376858820403883522016-12-17T21:22:01.450+01:002016-12-17T21:22:01.450+01:00Below is my t-shirt, by the way.
https://www.faceb...Below is my t-shirt, by the way.<br />https://www.facebook.com/1813592382219106/photos/p.1830944510483893/1830944510483893/?type=3&theaterkleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-21380774628121913612016-12-17T21:21:47.003+01:002016-12-17T21:21:47.003+01:00Terrific indeed https://www.ft.com/content/333fe6b...Terrific indeed https://www.ft.com/content/333fe6bc-c1ea-11e6-81c2-f57d90f6741a .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-66159056574148743902016-12-17T21:17:08.869+01:002016-12-17T21:17:08.869+01:00Forget it. No point in arguing with you. Just look...Forget it. No point in arguing with you. Just look to your neighbors in the North (FYROM). They are making a terrific effort to attract foreign investment. They don't talk like you. The speak the language of foreign investors and not the language of conceited amateurs. Forgive me for bowing out of this conversation.kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-5484509259941145422016-12-17T21:00:25.348+01:002016-12-17T21:00:25.348+01:00P.S. And other changes in what constitutes "f...P.S. And other changes in what constitutes "fresh milk".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-5662649942779233192016-12-17T20:57:54.935+01:002016-12-17T20:57:54.935+01:00It would be nice to know
1.which actual industria...It would be nice to know <br />1.which actual industrial direct investments you are talking about for technology knowhow transfer. Specific examples please, not generalities and vague wishful thinking and possibilites for the brave new future free economic zones would bring to Greece.<br />2.what would the median paid be in these imaginary investments? Cause if you're offering €100 montly jobs...<br /><br />Among other things Greece is in the middle income trap group you know, it is far from large markets (at least relatively), there are much cheaper countries next to it, etc. <br /><br />In essence foreign "investors" are mostly interested, if interested at all, in a firesale of the Greek public family silver and own-country exports to Greece through market "liberalisation" like dumping Northern European "fresh" milk to Greece and crashing Greek relevant dairy production industry by redefining "fresh milk" through the extention of the relevant prescribed time periods after production.Anonymousnoreply@blogger.com