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A DIY Book,
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This review is from: Greece's 'Odious' Debt: The Looting of the Hellenic Republic by the Euro, the Political Elite and the Investment Community (Anthem Finance) (Kindle Edition)
Jason Manolopoulos's DIY guide to the Greek Debt Crisis adds much to our understanding of how the Greeks ended up where they currently are.
The least interesting section of the book is the seemingly long oomparision with the economic woes that afflicted Argentina in the early 1990's. Although some similarities can be drawn between the Argentine and Greek experiences, the overall context of how both countries reached alomst economic meltdown are very different.
Chapter 5 of the book is the most illuminating and gives wide ranging and diverse examples of the dysfunction and and econoimc abornormalities of 'greek economy' from the inside. This chapter deals with corruption, bribery, nepotism and the apparent willingness of the Greeks to go along with a political and economic system that has a bloated and wasteful public sector, widespread cronyism and almost nonchalant acceptance of tax evasion as being the norm.
The overall thrust of the book is that whilst the Greeks themselves have to bear a large chunk of responsibility for the mess they are in, they have been aided and abetted in creating this mess by the EU political leadership, the banking and investment sectors and of course successive Greek governments.
Along with Matthew Lynn's recent publication - BUST - we now have two contemporary books that between them disect and analysis the real story behind the headlines. Recommended reading.