THE "MONEY STORM"
by Demos Sympetheros

EVERYBODY IN GREECE, IN EUROPE AND IN
THE REST OF THE WORLD DISCUSS ABOUT THE
DRAMA OF GREEK ECONOMIC CRISIS.
THEY ALL AGREE THAT THE AUSTERITY MEASURES
WERE VERY SEVERE.

WELL, ASK ME TO TELL YOU.
THE STATS ARE SHOCKING.
1500000 PEOPLE UNEMPLOYED.
GREECE HAS LOST ALMOST 25% OF ITS GDP.
(THAT IS A REAL RECESSION!)
1000 PEOPLE EVERYDAY LOSE THEIR
JOBS.
1000 FAMILIES EVERY DAY REMAIN WITHOUT
ELECTRICITY CAUSE THEY DO NOT HAVE TO PAY
THE BILL!..
HOSPITALS ARE RUNNING OUT OF MEDICINES.
SCHOOLS CAN NOT AFFORD ANYMORE
THE NEEDED TRANSPORTATION OF PUPILS WHO
LIVE IN SMALL VILLAGES.
SALARIES HAVE BEEN CUT TO HALF.
PENSIONS ALSO HAVE BEEN CUT TO AS
MUCH AS 30%.
THE ELDERLY CAN NOT AFFORD ANYMORE
TO BUY THEIR MEDICINE.
CONSTRUCTION HAS STOP.
HIGH WAY MAINTENANCE HAS STOP ALSO.
HOW ABOUT TAXES?.
ASK ME AGAIN...!
COUNT FOR ALMOST ONE AND A HALF
SALARIES A YEAR OF YOUR REDUCED INCOME
FOR TAXES.

THIS CONDITION IS SIMILAR TO A TORNADO OR
TO A STORM THAT HITS ONE COUNTRY WITH ALL
ITS DESTRUCTIVE CONSEQUENCES.
SCIENTISTS SAY THAT THESE PHENOMENA
ARE PHYSICAL PHENOMENA BRINGING NO
INFORMATION SO EVER TO THE CITIES THEY HIT.
ITS JUST A CHAOTIC CONDITION WITH VERY
DEVASTATING RESULTS. AND JUST THAT
ASK AMERICANS ABOUT THAT!.

BUT WHAT HAS HIT GREECE WAS A "MONEY STORM".
THIS IS A DIFFERENT KIND OF STORM.
ITS NOT A PHYSICAL PHENOMENA.
ITS AN INFORMATIVE STORM.
THAT MEANS THAT THIS STORM CARRY ALONG MANY
INFORMATION.
THE MOST BASIC INFORMATION COMES FROM MONETARY
THEORY.

THE REDUCTION OF MONEY SUPPLY RESULTS
TO A RECESSION SAYS THE BASIC THEORY.
OTHER CHAPTERS OF MONETARY THEORY  
FOLLOW AND ARE APPLIED TO THE GREEK 
CASE.
THE TARGET WAS OBVIOUS.
THE STRUCTURAL CHANGES  
OF THE GREEK ECONOMY AIMING TO MODERNIZE
THE COUNTRY AND MOST IMPORTANTLY TO
ENHANCE ITS COMPETITIVENESS LEVEL,

SO WE OBSERVE HERE THAT THIS "MONEY STORM"
CONTAINS  POSITIVE IMPACTS AND NOT ONLY
NEGATIVE ONES.
WE HAVE TO COUNT THOUGH THE CASUALTIES
FROM THE NEGATIVE IMPACTS WHICH OCCURRED IN
THE LAST THREE YEARS.
ON THE OTHER HAND WE MUST COUNT
AND ESTIMATE THE BENEFITS THAT GREECE
WILL DERIVE FROM THE POSITIVE
IMPACTS.

THE LATTER TAKES TIME.
ONLY NEAR FUTURE WILL ALLOW US
TO ESTIMATE WITH ACCURACY THE COST AND THE
BENEFIT FROM THE "PASSING OF THE
MONEY STORM".

MY OPINION?
SOMETHING INFORMATIVE IS ALWAYS
VALUABLE. 
BUT I THINK IT WOULD BE MORE
VALUABLE IF THIS INFORMATION WAS
DOMESTIC AND NOT IMPORTED!
DO WE LACK IN THAT?