Just recently, I read Michael Lewis’s Boomerang, which includes a long essay on the economic problems of Greece. It’s difficult to describe Greece’s economy without the words “holy fucking shit, dude, are you serious?” but I’ll try.
For years, the Greek budgets were a fraud. The EU rules required them to keep their deficits below 3% of GDP. But massive amounts of the Greek economy are underground. Their system encourage abuse and fraud so … Read more