Monday, July 04, 2011

I think we knew this

Greece faces severe restrictions on its sovereignty and must privatise state assets on a scale similar to the sell-off of East German firms in the 1990s after communism fell, says Eurogroup chairman Jean-Claude Juncker.

Whether the subsidy-sodden, corrupt and largely inefficient state can get any worse under EU/IMF domination is a moot point. And it will be interesting to see whether the Greeks care enough to do anything about it.