Greek economy

It is reported that in 2009 Greece had 3.5 per cent of GDP, the highest in Europe, being spent on defence. The Greek army has more tanks than those of the UK, Germany and France combined. That serious reform is needed in that struggling country is beyond question.

These small country delusions of grandeur should be a warning to all. Spend prolifically and featherbed endlessly and do not worry too much about payback seems to be the idea – the bigger brothers in your union will pick up the tab.

Make promises that you can’t keep with wildly optimistic assurances of where the money will come from to pay the bills, and assert endlessly and brush off pleas for logic and rationality. Label anyone who questions as being “anti-Greece”.

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Where have we heard all this before?

Alexander McKay

New Cut Rigg