10 Ways the Greek Government Screwed Their Economy
2.Created a culture of dependence
Reliance on foreign aid has created political and economic culture of dependence. Let’s put aside the politically correct jargon and call it what it is: a culture of parasitism. The last time Greece saw its budget balanced was way back in 1972, when the “Regime of the Colonels” ruled the nation with an iron fist. Since then the average deficit has been at least 6% of the GDP. Instead of trying to improve the work ethic, the government has encouraged the growth of a large bureaucratic army whose sole purpose of existence was to feed off public funds. The government was dependant on foreign aid and loans; the public sector was dependant on the burgeoning government salaries and benefits, the non-working populace such as pensioners, university students, and mothers with small children depended on the generous handouts. The question was not if but when this unsustainable system would collapse.
