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May 01, 2010


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Eric Muller

Greece is the word.


Did you happen to read the NY Times article today on the massive, massive tax evasion in Greece? Apparently this is a huge part of the problem, and the government hopes to, at best, make modest improvements in this area, though outsiders think even this is unlikely. My impression is that if a government in Greece tried to make the wealthy comply with their obligations to the country you'd see the real riots, perhaps not so much in the street but in places that matter, and that this would be a much more serious threat to the country. Democracy has ended in countries over tying to make the top groups pay their share, after all.

Kim Krawiec

Good one, Eric. I did read it, Matt. $30 billion a year -- amazing. I can't imagine that Greece will emerge from this bailout any healthier -- economically or politically -- than it is now. How can the economy grow in the face of such steep cuts? And will they even be able, as a political matter, to implement the austerity measures?

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