The Real Reason Greece (and Europe) is in Trouble

Special Report: In Greek crisis, lessons in a shrimp farm’s travails | Reuters.

This article shows the problems with the Greek economy. These problems exist to an extent in Italy and Spain, too.

Regulations are promulgated in order to create a class of bureaucrats who earn extra money taking bribes to look the other way. Switching to a new currency which devalues labor, land and other inputs will not even work in Greece. The Greeks simply do not have the laws to ensure that investors can invest safely in Greece.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s