Rich Greeks feel fine

From Guardian UK:

…Since the outbreak of Greece’s runaway debt crisis, its moneyed class has been notable more by its absence than presence. Oligarchs, who made vast fortunes cornering the oil, gas, construction and banking industries, as well as the media, have been eerily silent – often going out of their way to be as low a profile as possible.

Greek shipowners, who have gained from their profits being tax-free and who control at least 15% of the world’s merchant freight, have also remained low-key. With their wealth offshore and highly secretive, the estimated 900 families who run the sector have the largest fleet in the world. As Athens’ biggest foreign currency earner after tourism, the industry remitted more than $175bn (£112bn) to the country in untaxed earnings over the past decade. Greece’s debt currently stands at €280bn.

As ordinary Greeks have been thrown into ever greater poverty by wage and pension cuts and a seemingly endless array of new and higher taxes, their wealthy compatriots have been busy either whisking their money out of Greece or snapping up prime real estate abroad…

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1 Response to Rich Greeks feel fine

  1. robinhood63 says:

    As pissed as the average Greek is it’s probably a good idea that they lay low. If they find out or realize what the rich are doing…
    That is if, or when the rich show up in Greece while the toilet is swirling.
    I wonder if mittens Caymen money has any Greek neighbors to keep it company?


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