Pravda's scathing & brutal yet perfect & poignant analysis of collapse of Greek economy. It's a must read.
As we always insist a country is bound to doom if it imports everything, does not manufacture or produce anything and upon that spends more than it earns that too after taking loans & debts. We warn that tourism etc are fake economics which though extremely good in generating revenue like bubbles, can vanish in a split second and no one comes to a ruined country howsoever good tourism & hotel industry you might be having.
Not all subsidies are bad. The West gives a lot of subsidies to its farmers & industries. Subsidies are a double edged sword to be used with utmost caution. When used judiciously it helps protect & boost your economy like that of Anglosphere, Ger, Fra, SKorea, Jap. But if used recklessly you've PIIGS crises & the Greek tragedy as well as what we're struggling with right now. Anyways its a simple axiom to follow: produce & manufacture everything yourself, avoid Greek tragedy. And remember the old adage: money saved is money earned. To conclude: तेते पाँव पसारिये जेती लांबी सौर Spread your legs only that much as much you have the bedspread(an old Hindi one).
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