It appears the Greeks have been taking economic lessons from Ed Balls, he of "the only way to cut the deficit is to borrow more" school of economics.
I read today that the Greek government, in debt up to their eyebrows and beyond, with a supposed austerity drive being fought at every step by the disgruntled public, have ordered no less than 400 battle tanks from the USA to supplement their armed forces!
Now these tanks aren't any old cheap rubbish, they are M1 Abrams , top of the range jobs at a cool £1.3 billion for the job lot. In addition they have also ordered various armoured personnel carriers and artillery pieces taking the total to just over £2 billion.
In times of plenty it is wise for government's to update and expand their defence capability, however when you are likely to default on your debts to the tune of £2.4 billion, why on earth would you be spending another £2 billion on arms when there is not a war on?
Perhaps they intend manning the barricades when the worlds banks come knocking on the door for the money that they owe!!
I think this one has to go in the "you couldn't make it up pile".
Another one you could not make up is a letter in the Shepton Journal claiming that a million pound loan is not a debt because the council will have an asset. Cost of tanks as a percentage of Greece GDP = less than 1%. Cost of loan for town hall for Shepton = 500% times equivalent of GDP for town council. I always knew Balls is a closet tory economist!
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