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Monday, November 14, 2011

Greece is not California. You need to read this...so very clear.


http://rodrik.typepad.com/dani_rodriks_weblog/2011/11/why-is-the-bankruptcy-of-the-greek-government-different-from-the-bankruptcy-of-california.html
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1 comment:

Andrew Grodner said...

I think what is different between EU and US is the tax collection and the rule of law. The EU should allow Germans and other members of ECU go to Greece and help them to collect taxes, and prosecute corrupt officials.

In US, when Mr. Blagojevich was trying to sell Obama's seat, he could try to bribe anybody in Illinois, but the feds came and took care of him. Also, Al Capone, a Chicago man, was put to jail by the feds on tax evasion charges.

So I think if EU does not have an institution which is above local country law, any member of EU can create a disaster for the rest of the countries at any time in the future.

Very interesting post, thanks for the link. I agree that everybody should read it if they want to have a good opinion about Greece and EU crisis.

November 15, 2011 at 8:47 PM

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