IMF – Will Greeks Fall In Love With Their Captors?

So Papademos has been in power for around a month and the Greek propaganda machine has come and said there will be no more tax increases.

I hope Greeks do not view this as progress.

Just because their captors are not going to increase the physical abuse implied or actual does not make the physical violence acceptable.

Taxes need to be pulled back massively and immediately for the country to recover.

After 3 years of declining tax revenues due to increasing tax rates you would think the governing elite, if they are really interested in helping Greeks, would make the connection between increasing taxes and decreasing tax revenues and worsening government deficits.

The IMF mission chief to Greece is quoted as saying

We have reached the limit of what can be achieved through increasing taxes

What exactly does he think increasing taxes have achieved? They certainly have not led to increased tax revenues so what was the IMF’s aim with increasing taxes?

The rest of the article is IMF quotes which are filled with the usual accountable designed to make the simple facts sound impenetrable.

The simple facts being that the private economy in Greece has been decimated in a failed attempt by the socialist government to make private businesses pay for the failures of a massively overgrown public sector