Wednesday 4 January 2012

Why and how Greece collapsed

This was forwarded to me: Tqs

What is happening in Greece now is happening in Malaysia too.

Bureaucracy: Greece 's bureaucracy is famous in the whole of Europe. To open a cafe or pub there are 25 processes to go through!! This is a country of many unnecessary rules and regulations.

Does this sound familiar? Try applying for a simple trading license in Malaysia without using a runner and see!
Bloated civil service: There are 1.05 milliion civil servants (excluding police and armed forces). The population of Greece is only 10 million!! More than 10% are government servants!! Salary increases every year and benefit for civil servants in Greece is one of the best in Europe. More and more money is needed to upkeep these unproductive bloated civil servants. The retirement age is 62 yrs old.

Does this also sound familiar? The latest budget was announced on 7th Oct 2011 and guess what-bonus for the vast number of civil servants again!
Corruption: Greece is the most corrupted nation in the Eurozone. Citizens pay "under table" money to:
·      admit into a public hospital
·      pass a driving licence
·      to enter public service
·      renovate your business premises or your home
·      avoid income tax

Hey, are we sure we’re talking about Greece here and not Malaysia?
Every government project is awarded to political cronies and at hugely inflated prices! Transparency International compared the prices of the construction costs of stadiums built for the Athens Olympics recently with similar structures in China-500% more expensive than the Chinese; compared to Los Angeles and Sydney-50 % more expensive! All these with tax payers money and borrowings!

Ai yo yo ... we are beginning to think that the Greeks and Malaysians are identical twins lah.

Tax evasion: Officially 80% of its citizens are supposed to pay tax but only 37% are doing so. Big businessmen and corporations have refined tax evasion to a fine art (or have the tax men taken some coffee money?)

Over here, our Government openly admits that the bmi do NOT pay tax.

No transparency in governance: The politicians and bureaucrats falsified economic data and painted a rosy and manageable picture while the economy was rotting away.

Yawn yawn .......... this is beginning to sound boring lah.
Unabated borrowings: Meanwhile, the politicians and bureaucrats continue to issue government bonds to keep afloat, series after series. They were trying to cover up the financial mess they have created creating one big hole to cover up the previous!

Like bailing out the cronies? Is FELDA next after Petronas?
Lacking political will power to reform: To keep hold on to political power, politicians are prepared to lie, commit economic and political fraud. If reforms were taken some five years ago, the country need not go bankrupt and its citizens need not suffer so much. Political expediency and greed to political power over-rides everything and hence Greece is now a bankrupt country. Luckily, it is part of the European Union and its currency is EUROs, otherwise Greeks will have to eat grass to survive!

Reform is no more a choice, it is our only hope!
Laid back attitude: Tourism is THE ONLY industry in Greece and over the years the Greeks have had an easy time. Many flocked to see the historical sites and enjoy summer vacation on the islands. But they forgot that not many tourists will returned after visiting the sites – there are so many other tourists attractions in the world, maybe more exotic and perhaps cheaper! So once tourism wanes and coupled with higher costs of living – the Greeks could not and refused to adapt and transform – still partying and having a nice time – maybe the Greek Gods will bless them! Greece have no natural resources, no electronics industry, no R & D – no anything!! They were so laid back – cannot see what is coming and crashing down on them. Even now, the civil servants refused to take a pay cut – because they feel that the world owes them a living!

So stop thinking that this is Greece's problem and has nothing to do with you. What is happening in Greece now is happening in Malaysia too. Give UMNO another 5 years to ruin your country and you will have nothing to leave for our next generation.... so please vote wisely at the coming general election.

Say no to racism and corruption.



  1. Defination of Civil Servant is anyone whose wages is paid by government or by an agency that is kept afloat directly or indirestly with taxpayer funds.

  2. Hussein, what is bmi? Is it bumi or in full bumiputra?

  3. Sorry Peter...I do not know ...can anybody help?

  4. no comment on the last paragraph?

  5. Are you drunk Sein.Go have your black coffee quickly

  6. It seems like malaysian and Greece have a lot in common....I suggest the umno government request for kuala lumpur and Athens to be declared a twin city........

  7. I think 'bmi' was a typo meant to be 'bumi'. According to the following link:!

    'Over here, it’s only the Nons who pay tax' is another way of saying the same thing.

  8. Most of the people of southern European countries - in the countries now hit - proundly say they are Catholic - not Christian. However, surveys show that the majority see no harm even in failing to pay taxes. Another similarity?

  9. Nah lah.

    This is just a PKR scare tactic.

    Msia is in much better shape than Greece, at least we oil palm and crude, what does Greece have, olives ?


  10. Hi don,t forget we are muslim country, the Greece is christian/catholic country.
    The muslim allah won't fail his believers.

  11. It's false to say that no Bumi pays tax.. Everyone pays! In the form of SALES TAX..