Saturday, January 14, 2012

COMMENTARY: Greece Needs to Make Changes for Its Economy to Improve

The Greek government is digging its own economic grave -- and has nobody to blame but itself -- for its extremely weak economy that may soon result in the nation's bankruptcy.

Despite the fact that Greece's economy is on the verge of collapsing, the Greek government this week added over a half-dozen additional categories to its list of recognized "disabilities." These additional "disabilities" include pedophiles, kleptomaniacs, compulsive gamblers, and pyromaniacs, among others.

The Greek government, in effect, has now added fuel to the fire by including this list of ridiculous "disabilities" for which Greeks may be eligible to receive periodical government financial assistance.

Undoubtedly, some Greeks -- perhaps even many -- will act out the role of being a kleptomaniac, pyromaniac, or other newly recognized "disabled" category, in order to receive payments from the financially-burdened government. This new "disability" categorization, then, will inevitably result in a lose-lose situation for the Greek government and Greece's economy.

In reality, Greece should be ending many of its socialist handouts, which were indeed responsible for getting the country in its present economic predicament.

The fact that Greece received several billions of euros in loans from both the International Monetary Fund and the European Union during the past year has not had a significant impact on Greece's economic recovery.

The Greek government needs to be emphatic and unyielding about withdrawing many of its costly socialist economic giveaways, and encouraging its citizens to work diligently for their money, in order to revive Greece's faultering economy. Then -- and only then -- will Greece's economy improve significantly and remain productively stable.

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