These days when ever I want to add a new post I remember the fact that the country is in economic crisis and any topic I will write is kind of “not in correct time and space”. Today, I decided to get over this and write a short comment about economic crisis based on my experiences with the Turkish default in 1999. I believe after this post I will be able to write nice things again.
It was year 1999, I had just finished university and started to make a little bit of money. I even managed to buy a small land in my hometown with the money I make (by the help of my father). When the year started to show it’s real face, things got ugly. One day I came in the office and I saw that interest rates in my investment account were 1200% daily. That was it. It continued 4-5 days and IMF talks started. I called my family, they were heavily effected from the economic development. My father already saw that there will be a big loss in construction business what ever you do. He even went ahead and tried to close the “loan debt” he got for his new project by selling some property. But, this was not enough. Country was going down.
New measures announced by the government. There was no salary cuts (they were already low) but there were heavy taxes coming and banks were asking their money back instantly (banking law changed after that year). It turned out to be that banks nearly made every illegal move (which were legal in those days) in investing money and as soon as they have crashed, they moved this debt on to bank customers.
IMF stepped in with a “bully” face. They insisted on selling Telekom (which is the national telecommunication company owned by government) because it was loosing a lot of money. And several other, state investments. Countries who told us to sell stuff, were actually in favor of state investment in their own countries. They were finding the right manager for their big companies, making the company independent and it was working. But, when it comes to us, they did not advice to do the same, they said “sell it” or we will let you go default. So, we sold a lot of them (they let us default any way). The telecommunication company was bought by a Lebanese investment group, which is very well known that backed up by French offshore investment groups. The company which loosed 100 billion Euro just in 1998, made 120 billion profit in year 2000. And we sold it to them for 80 billion euro in year 1999.
I have written this long story because it has similarities with Greece. Although, Greece will come out of the crisis much faster than Turkey (that is really what I believe) IMF will not stop till they sell large state investments. Than all of a sudden they will announce, it was not that bad in Greece after all.
You got the picture. This is a “economic-hitman” trick that worked in many countries.
So, here is my 5 rules for the Greeks in economic crisis:
1) F**K IMF (After we kicked IMF ass in Turkey, we have started make real money, before that, what ever we do, the money was never enough, debt was paying debt)
2) F**K the people who hired unqualified people in state companies just to get their votes. You are not the one has to pay for the crisis. Those morons are. More over, if you do not F**K them now, they will do it again. Same thing goes for politicians and parties who involved in this crisis. I am saying one more time, IF YOU DO NOT F**K THEM NOW THEY WILL DO IT AGAIN. Show that, if you mass with Greek people, Greek law will put you in jail.
3) TELL French and German morons that the money they are giving is not actually give away, it a s LOAN with high interest. So, they fucking make money from this. But their government are telling them it like it is a money give away.
4) DO NOT SELL state companies. Make a state independent investment think-thank which hires professionals with good salary to lead these company. You will really benefit from it.
5) STOP voting for PASOK or NEW DEMOCRACY for fuck sake. Make these 2-3 family names disappear from Greek politics. They have done their service.