Αλλος ένας "ευχαριστημένος" ξένος επενδυτής γράφει για μας

By Steven R. Earle

The problem with much of the opinion surrounding the Greek financial crisis is that few writers actually have any experience in Greece, in dealing with its politicians, its bankers, its systems, its cultural proclivities and its people.

I personally have such experience, as between 2003 and 2008 as chief executive of a startup airline we invested €20-million ($26.7-million) in the country to develop seaplane operations between isolated islands. This was an essential service that was important to the economics, health and safety of its people and state.

This project gave me and my partners direct access to all ministers of the government, senior bankers, all local government officials, bureaucrats and the media. At the same time, we were exposed to the Greek employment culture and business operating regulations and systems. We were, as it turns out, “Alice” in Wonderland.

Based on this lengthy, expensive and in-depth involvement in the “Greek Reality” I can conclude there is no bailout solution for Greece because the Greeks and their unsustainable beliefs and practices are not fixable under a bailout situation.

As a start, their entire political and economic system is designed to bleed foreign investor corporations, banks and other nations of cash. In effect, debt, financial aid, development funding and the acquiescence of others to their faulty system is part of their business plan. The politicians do not see the debt as being debt. They see it as income. The Greek state accepts money it cannot, will not and never had any intention to pay back. It is a hybrid of a Ponzi scheme, a beggar and an addicted relative.

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financial post