posted on Oct, 9 2013 @ 05:46 PM
In light of the Cyprus depositor haircuts, the Polish pension fund confiscation, Italy and Spain's financial misery and now the possibility of a US
sovereign debt default it seemed only fair that the poster child for southern Europe's financial incompetence get some press time. I give you Greece
and their current thinking of how to get themselves out of trouble once again.
Greece Considering Confiscation Of Private
As Kathimerini reports, the Greek Labor and Social Insurance Ministry is "seriously considering drastic measures in order to obtain the social
security contributions owed by enterprises and to avoid having to slash pensions and benefits." What drastic measures? "The ministry is planning to
force companies to pay up or face having their assets seized, so that the 14 billion euros of contributions due can be recouped."
So let me get this straight, the Greek government gets three huge bailouts from the IMF, uses the funds to keep themselves going, "forget" to collect
Social Security taxes and are now are thinking of confiscating up to 8% of the country's GDP from private assets? Not sure who is the most corrupt
here the Greek government or the Greek private industries. No wonder they're a mess.
In the US we don't have that problem, we're just told that the benefits "could be cut."
When asked by the public, the agency is notifying beneficiaries that “Unlike a federal shutdown which has no impact on the payment of Social
Security benefits, failure to raise the debt ceiling puts Social Security benefits at risk,” according to a person familiar with the agency
I believe that's because our businesses pay their Social Security taxes but our government squandered all the money on other stuff.
991pm0808pm52013 by Bassago because: (no reason given)
edit on 992pm2323pm52013 by Bassago because: (no reason given)