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Monday, 13 February 2012

Beware of Greeks baring their souls

I wrote a post a few months back that got a few twits twittering about how capitalism was doing fine in Bangalore and Beijing.  One of the premises was that the average European didn't really merit the difference in pay between them and the average Asian, and that inevitably the wages of one part of the world would trend down as the living standards of the other side of the world increased.

Greece is a case in point.  It might have seemed a fine idea to qualify for a full civil service pension after 20 years, although you can't draw it until age 60 (still better than the 65 required for the general state pension), but that is increasingly hard to justify when the other side of the world is doing all the work and not getting any such perks.

Still it seems that there are some who think that this is just a scam, even on the right. There is one far right party voting against the reforms, called the Laos party.  Appropriate because that is where the Greeks will end up if they don't face up to reality.

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