When I say turd I refer to the government beauracracy. Possibly a bit strong but that is what it is. So what does the Greek “development” minister think is the best thing to do?
Plough more money into a corrupt and inefficent government bureaucracy (from now on I will refer to Greek government bureaucracy as the Black Hole because it is easier to spell and a more accurate description). The “development” minister wants to plough 200 million of the Greeks people money into the black hole.
The Athens News article is not exactly clear on why the “development” minister is giving these companies 200 million Euro (which the government doesn’t have). But it does give the preconditions, the company must be losing money and it must employ more than one person. So the 200 million euro is not spread to thinly you understand.
What the finance minister does not in the article is what effect this 200 million donation to failing companies will have on companies which are making money at the moment.
I am sure the “development” minister is not trying to bankrupt successful businesses by making them noncompetitive versus companies which are losing money to I assume there must be a plan for the profitable companies. Unfortunately the article doesn’t say.
Also the long term goals of this handout are not given. The finance minister does not say what he wants to achieve by throwing the hard work of citizens into the black hole. And not only the government black hole but the black hole of failing companies.
The fact that the Greek tax code does not recognise losses on a companies tax return is not mentioned.
I know I am stating the obvious here but the “development” minister should look at reducing regulations rather than taxing the Greek citizens and polishing the turd.
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