Reports on the number of Greeks not paying any tax would seem to indicate that GDP figures are not accurate and before joining the EZ Greece seemed to be able to survive ok from trade. To have been able to get two bailouts and now negotiating a third the present GDP figures would be necessary to make the case for it. Unless however we can see where Greece has being losing commerce and trade since the introduction of the euro instead of gaining from it should we not assume that what we are being told by Greeks may not be the full truth and that their politicians may not be too keen to delve deeper into economic realities.___
Apart from that, State employment has resulted in considerable spending on property – mortgages etc. and as that was funded with borrowing those properties could be claimed by the creditors in a default case. Further, tax collectors are not legally entitled to borrow for personal benefit using the taxes as collateral – taxes belong to those who pay them and have to be used for their benefit - and as all bank credit to State employees and those paid with taxes has to be repaid with taxes any property purchased in that way belongs to the State.___
Furthermore, borrowing for consumption is unlawful when the bill is left for future generations to pay. Schools and hospitals can be invested in for them but not luxury goods, cars, and private property they’ll never be able to use.___
Given that, Greece or any of the other bailed-out States, is not insolvent or even bankrupt, merely badly governed and inaccurately reported while all assets purchased with taxes must be included in calculating their ability to repay their debts. If a State overpays in error or unlawfully is it not entitled to recover the money or cost in the courts?
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The Simple Math Behind Greece’s Complicated Situation
I should have said 'compelled to' recover the money in the courts if necessary.
The Simple Math Behind Greece’s Complicated Situation
Reports on the number of Greeks not paying any tax would seem to indicate that GDP figures are not accurate and before joining the EZ Greece seemed to be able to survive ok from trade. To have been able to get two bailouts and now negotiating a third the present GDP figures would be necessary to make the case for it. Unless however we can see where Greece has being losing commerce and trade since the introduction of the euro instead of gaining from it should we not assume that what we are being told by Greeks may not be the full truth and that their politicians may not be too keen to delve deeper into economic realities.___
Apart from that, State employment has resulted in considerable spending on property – mortgages etc. and as that was funded with borrowing those properties could be claimed by the creditors in a default case. Further, tax collectors are not legally entitled to borrow for personal benefit using the taxes as collateral – taxes belong to those who pay them and have to be used for their benefit - and as all bank credit to State employees and those paid with taxes has to be repaid with taxes any property purchased in that way belongs to the State.___
Furthermore, borrowing for consumption is unlawful when the bill is left for future generations to pay. Schools and hospitals can be invested in for them but not luxury goods, cars, and private property they’ll never be able to use.___
Given that, Greece or any of the other bailed-out States, is not insolvent or even bankrupt, merely badly governed and inaccurately reported while all assets purchased with taxes must be included in calculating their ability to repay their debts. If a State overpays in error or unlawfully is it not entitled to recover the money or cost in the courts?