Opinion – Yanis Varoufakis faces criminal prosecution over clandestine ‘Plan B’ currency plot – Telegraph – John Gelmini

If Varoufakis has genuinely done something wrong, then let him be tried and convicted, if there is evidence.

Dr Alf is right to suggest this, however, if this vain and economically incompetent man is to be tried and punished assuming he is convicted, then others who are equally culpable need to be brought into the frame as well. These includes those who gerrymandered the figures which allowed Greece to enter the Euro in the first place, Goldman Sachs for participating in the subterfuge and subsequent window-dressing, those in the Greek Government and other Governments who looked the other way and should, given their positions and supposed intelligence, have known what was going on and put a stop to it.

The guilty must include those in the IMF who went along with this charade and of course the 5 Greek plutocratic families who allegedly stole much of their country’s money and then left European taxpayers to foot the bill.

Varoufakis is an arrogant buffoon but to say “All the sins of the people ” must be heaped on his head, whilst allowing the rest of the scoundrels a clear escape is grossly unfair, and means that the guilty get away once more as they did after the last financial crash, where they doubled their money having apparently laundered it through 40 different tax havens and transmuted it into gold, gems and real property, much of it in London.

John Gelmini

Opinion – Greece’s Problem Is More Complicated than Austerity – HBR – John Gelmini

The short answer to Dr Alf’s question is ‘never’.

With regard to the Michael Jacobides article, the problems faced by Greece are considerably more complex than just austerity and its application.

Forcing the Greek government to remove barriers to competition and innovation will help but on their own they will not be enough.

Measures to change cultural values, like early retirement on a full pension, lack of productivity, tax evasion, corruption and theft of monies from the public purse will also be needed.

Then, the Greek economy needs restructuring, plus marketing to bring in wealthy tourists and conference attendees. After that university degrees need to be matched to the skills the country needs – there’s too much waste in Greece’s education system.

John Gelmini