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The bailout made a big difference to the banks who got the bailout money. It didn't help Greece's economy, because the bailout wasn't used as a stimulus package
by gizmo 11y ago
The bailout made a big difference to the banks who got the bailout money. It didn't help Greece's economy, because the bailout wasn't used as a stimulus package.
The dysfunctional tax system in Greece isn't the cause of the crisis. But people keep bringing it up because once the people of Greece can be depicted as corrupt and lazy we can morally justify any amount of hardship we force on them.
The problem with Greece is entirely structural. But the fundamental problem is that Greece doesn't have an economy that's strong enough to compete with northern Europe without substantial subsidies. Everything else is minor in comparison.