The Black Economy Will Save Greece

Over 500,000 people were reported to have atteneded protests outside the Greek parliment in Athens on Saturday.

But international media has not covered the event. An absolute disgrace.

Athens News today has quite a few articles covering the protests which is nice.

One of the protestors were interviewed The medium-term plan includes tax increases while the international lenders are pushing for a crackdown on widespread tax evasion. The black economy is thought to amount around 20 to 30 percent of the gross domestic product.

“Instead of going after tax cheats, they are raising taxes and cutting working people’s pay,” said Yannis Mylonakos, 34, who lost his job at an advertising agency.

Yannis has got the right idea but he is completely missing the point. I think he will agree that the politicians and government beauracrats are incomptent/corrupted, however you want to describe them

The answer is definitely NOT to give them more money

ALL Greeks benefit from the black economy and make no mistake. Tax cheats or no tax cheats, the government would be in the exact same position as it is today.

By keeping money out of the hands of the politicians, the black economy is keeping the money in the hands of the people.

For sure, some benefit from avoiding the taxes more than others which of course is inevitable and sure, it may want to be sorted out it the future. But when the country is in a time of crisis, the answer is not take even more money out of people’s hands and put it into the hands of international bankers.