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Raves/Rants about the goings-on on a little blue inconsequential planet in a small and relatively uninspiring solar system which is on the far end of a small and wholly unspectacular galaxy in the large universe.

Europe Economies: Greece

Category: , , , By El Subliminal
Continuing on our theme of trying to answer the question: "Why the hell is Europe so affluent?",
my roomie G. Smaragdakis forwarded this article to moi. This is in line with my earlier posts, here and here.

What I found distressing and indeed a sign of things to come is the bit where locals are selling their land to make ends meet. This way, soon most Greeks will be displaced by wealthy Europeans and Asians,  and after that there will be land riots. 

But almost all such articles do not address one issue which I'm certain would be a cause for concern - the burgeoning credit card debt of the local junta. From my greek contacts, they claim most people put almost everything on their credit cards. Shouldn't this be a cause for concern?
Atleast the credit cards help explain why regular people can afford 9 Euro coffees. 

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