May 22, 2024

Athens News

News in English from Greece

Demographics and debt: if its repayment is not removed/rescheduled, Greece will be destroyed


Greece is in danger of being “wiped off the face of the earth” due to the worsening demographic problem, which is directly related to the Greek debt, which is literally… on a “cosmic” level, says Theophrastos Andreopoulos, editor-in-chief of the popular publication ProNews.

Debt that should be written off

This is predominantly the optimal solution, and the next one is to postpone it for a long time, which does not solve the problem, but simply postpones it until later. Because with such a debt, Greece will never get back on its feet, and the Greeks will never want to have children.

Greeks should have incentives for having children similar to those offered by Hungarian Prime Minister Viktor Orban: for example, any mother who gives birth to a fourth child will not pay taxes. But this not everything he did. He took other measures, which also serve as a guide for Greece to increase the birth rate.

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Among these measures are the extension of loan repayment periods for families with at least two children, and women under 40 who get married will be entitled to an interest-free loan of 10 million forints (about 31,000 euros). A third of their debt will be written off as soon as their second child is born, and as soon as their third is born, they will be free of all debt!

Someone will tell you how to do this in Greece, which is completely in debt and will last for a century. The truth is that its debts will never be repaid, and in the meantime the Greek nation will be “dead” because there will simply be no one to give birth. Greek debt is now 35% higher than it was when the memorandum was entered into, making Greece a true debt champion.

At 31 March 2010, the debt stood at €310.384 billion, at which time government cash reserves stood at €7.159 billion and government guarantees stood at €25.408 billion.

At the end of the third quarter of 2023, Greece's public debt reached 360.17 billion euros, an increase from 358.046 billion euros in the previous quarter!

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In other words, two months before signing the memorandum, we owed much less than we do now! And all this after three memorandums and a bond haircut (PSI), which finished off the Greek economy in 2012. The share of government debt in GDP rose to 168% in 2023, up from 126% in 2010.

It should be recalled that the worst awaits us in the near future, namely from 2032, when the country starts paying contributions and interest rates again. What will happen then? With an anemic Greek economy that produces nothing and low growth rates, how will Greece continue to pay off this incredible debt? The only thing that can be done for Greece is to write off the debt unilaterally. What government would decide to do this?

Of course, a new political system, different from the existing one, will be required. Consisting of people who think ethnocentrically and have the courage to promote the necessary solutions. Now it is a question of existence. If a country wants to continue to exist as a nation, it must start giving birth. To give birth, she must not be in debt (and the education offered to today's youth, which teaches them to think only of themselves and not of others and society as a whole, must change).

We need incentives like those in Hungary. They cannot be provided by a country that does not control its economy and cannot distribute its resources where it wants and where it is needed.

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Just look at the countries that had large debts. For example, Russia in the 1990s, when no one was having children, when the Russian economy was in tatters, poverty was at an all-time high, and the state was under the control of the IMF. At that time, the country's population was declining, and only in recent years, thanks to the constant increase in living standards, the Russian authorities managed to reverse the downward trend.

Debt doesn't just kill the standard of living and dreams of young people, it kills the “core” of a nation because it deprives it of its ability to reproduce and continue its existence in history.



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