Thursday, 29 September 2011

The Lazy Country

An interesting article! Well, the lazy country was referring to Greece, in case you were wondering :)

Not to say that I'm all for the subsidy cuts, but the government needs political will to get rid of 'bad' subsidies, minimise leakages and combat corruptions.

I really hope that PM will introduce the following in the incoming Budget 2012:
1) food and transportation coupons
2) cut personal income tax
3) cut petrol & sugar subsidies
4) gives more details on the implementation of GST and cut duties on cars & spare parts
5) cut subsidy to IPPs


The lazy country — Tay Tian Yan

September 29, 2011

SEPT 29 — The menace that Greece poses to the world today is comparable to the threat of Alexander the Great to conquer the world 2,000 years ago.

Alexander the Great launched his tireless assaults across thousands of miles of terrain, much to the fright of the world.

Today, the self-destructive Greeks are taking global finance system for a ride, and vows to trample stock markets worldwide. The trumpets heralding an imminent downturn of global proportions chill the bones of many.

Two millennia ago, Greek troops scourged a vast mass of land stretching all the way to India, but the debt crisis of modern-day Greece has a spillover effect that easily wraps up the entire planet.

Just as governments across the world are cracking their heads to seek workable solutions to fix Greece's problems, and entrepreneurs and investors lamed under the mounting pressure thanks to the debt crisis of the Mediterranean state, the Greeks respond by holding one street party after another.

Greece's transport workers, civil servants, teachers, etc take to the street for massive strikes, which are pretty common in that country, some having their dates scheduled all the way to next month.

The objective of the demonstrations and strikes is to protest against the government's decision to trim wages, pensions, benefits and subsidies as well as an intention to perk up taxes.

The measures adopted by the Greek government have been made to satisfy the demands of the IMF and other creditors. Their rationale is straightforward: Greece needs to fix its own house before it can secure foreign assistance.

The Greek economy has headed downhill since its admission into the Eurozone club. Nevertheless, the government has remained lavishly generous and its people addicted to all the benefits and enjoyments befitting the people of a developed state.

Everyone wants a comfortable life, and the government has to issue bonds to meet their needs so that they can continue with their extravagant lives and the government continues to get a ticket to rule.

As such, the government hires a multitude of civil servants. One in 10 employed Greeks draws his salary from the national coffers, complete with all the perks.

In addition to easy work, they can advance their retirement benefits after they turn 40. In the event they die, their children can inherit the annuities.

The private sector is just as lucrative. The government continues to fork out medical subsidies, education, food and accommodation bills. You don't need to worry about the taxes, for the enormous underground economy offers a way out for tax evaders through bribes.

Over the decades, Greece has evolved into a lazy country, where the people are unproductive, the government incapable and the country uncompetitive.

When the mountain of debts begins to fall apart and all the prosperity turns into bubbles, the people remain recalcitrant with their good old life.

They would rather take to the street than to soberly accept a more simplistic and thrifty lifestyle. They believe they can go on with the good life by holding on to Euro Big Brother Germany or holding the world for ransom.

But the world has already got sick of Greece. Many economists feel that Greece should be thrown out of the Eurozone, or allowed to go bankrupt. Only utter destruction could give Greece a ray of hope for regeneration.

Lazy people should be made to bear the consequences of their own doings. Greece is not the only lazy state on this planet. — mysinchew.com

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