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Trading Lessons

Meanwhile in Greece..

Politics / Eurozone Debt Crisis Aug 09, 2016 - 01:33 PM GMT

By: Raul_I_Meijer

Politics

Everyone gets 15 minutes of fame. Greece had its spot in the limelight last year. It is now no longer famous. We have all moved on to bigger dramas, or so we think. The French feel they are the victims because of terrorist attacks, the British because of Brexit, Americans because of Trump.

Warhol’s 15 minutes of fame line is as much about the average human being’s attention span as it is about anything else, like the proliferation of media. The data in the picture at the top of this article are from 2014. They are what moved Greeks to elect Syriza in early 2015. But the Greeks found out within 6 months that this made no difference; the Troika called the shots, not the Greek people, not its government.


Every single one of the numbers in that pic has gotten worse over the past two years since it was released, often by a lot. There are hundreds of thousands of Greeks who make anywhere from €100 to €500 a month working the only part time jobs they can find. 1.2 million workers must wait anywhere from 3-15 months for their salaries to be paid.

But they’re the lucky ones; at least they have jobs. There are millions who don’t make any money at all. 3 million Greeks have no health care coverage because of this. That’s 30% of the population. A related quote I first put up last year is: “..if you are sick in Greece now, you have an expiration date.”

The IMF report I wrote about recently in Why Should The IMF Care About Its Credibility? states unambiguously that the IMF itself, in cahoots with the EU, is to blame for all this misery. But we haven’t seen one single word that would indicate there are plans to rectify this gross injustice.

The austerity measures forced upon Greece by the EU and IMF squeeze the country itself, and the people who inhabit it, into ever growing desolation, with no way out at all on the horizon. A country and its economy cannot heal or recover when it has a 25% unemployment rate, and 50-60% for its young people. And has seen hundreds of thousands of its best educated people leave the country.

Moreover, with pensions, on which a large part of the overall population depends just to survive, having been cut for the umpteenth time (supplementary pensions were cut between 21% and 46% on August 1), while a wide range of taxes keep rising across the board, consumption is being strangulated, which leads to more companies and stores closing, more unemployment, rinse and repeat. You can find it in the dictionary under ‘vicious circle’. Or in the Greek one under ‘Schäuble’ or ‘Dijsselbloem’.

And then Angela Merkel had the gall not long ago to claim the EU had found the ‘right mixture’ of policies with regards to Greece. These people are so -willingly- blind, and they care so little about what their policies do to people, they couldn’t find a ‘right mixture’ if it drove over them in a truck.

Greece is being ritually slaughtered, and the Brexit referendum has not taught Brussels one single lesson. They’re not going to understand until it’s too late and the EU blows up, but that may still take some years, while for the Greeks it’s already too late now.

The Troika should really -certainly after the IMF report- be forced to repeal their ‘policies’ versus Greece, but who’s going to force them? They’re not accountable to anyone. Well, except for the IMF executive board, but they are just a bunch of …. And the other Troika side, the EU, is a lost case.

On top of the country’s internal problems, there are now 57,000 refugees stuck in Greece. 21,000 of them have requested asylum. Plans to relocate them through the EU have been miserable failures. Most of the refugees live in one of dozens of improvised camps in below-par conditions. Those who don’t have papers are often de facto prisoners.

More misery is on the way. The Troika has forced through a law that will make it much easier to foreclose on homeowners who can no longer pay their mortgages. It’s not hard to see that there are many of them. The country must therefore prepare for another epidemic of homelessness, a scary prospect for a society that’s already been hit so hard.

As you will know if you’re a regular reader of the Automatic Earth, I started the “Automatic Earth for Athens Fund” last spring when I first went to Greece to see what the Syriza ‘revolution’ would bring (we now all know what it brought). The donations from Automatic Earth readers into the fund went far beyond what I could have dreamed of.

After donating some of it to two volunteer clinics and am institute for streetchildren (see links to articles below), I decided to focus on donating the funds to O Allos Anthropos (which means The Other Human), a group of impoverished Greeks who feed other poor Greeks, and do so by cooking in the street. The movement is led by someone who has become a dear friend, Konstantinos (Kostas) Polychronopoulos.

Konstantinos (Kostas) Polychronopoulos

I have been back in Athens for a few months now, talked to Kostas quite a bit, and donated more of your money. So much so that there is nothing left. I paid the rent for the ‘nerve center’ in May (€2,054 per 3 months) and a total of €2,500 in May and June to repair Kostas’ car, without which the entire organization would grind to a halt. And then paid the rent again this Thursday, another €2,054.

My administration indicates that you have donated $24,370 to date, and I have given away $26,694. The numbers can’t be exact, because donations come in in USD, EUR and CAD, and exchange rates vary. Also, Paypal takes ‘its share’, which also varies. But one’s thing’s sure: the money’s been spent, and well spent. Actually, two things are sure, the second being that more money is needed.


Kostas was so happy to have his car running again, and you made that possible. It’s taken him ‘twice around the whole country’ in the past year. 13 different cities. It costs €500 to get a return ticket on the ferry to Lesbos with the car…

I am hesitant to ask the same people repeatedly to donate, but I will, because at this moment I have no choice. After I paid the rent two days ago Kostas told our friend and translator Tassos that he had two euros left in his pocket. And that’s not good. Of course I’ve known all along that the money could run out, but also that it won’t be for my lack of trying. And yes, this has become personal over the past year.

And now, not only will there be another wave of homelessness, other things deteriorate as well. A few weeks ago Kostas told me that donations of food, his by far most important kind of donations, are down by over 40%. People in Greece simply don’t have the money anymore to afford donations. While he has 13 ‘social kitchens’ running all over Greece which together prepare 3-5000 meals every day, and would like to do more, but can’t because he doesn’t have the means.

Another issue too has raised its head. Volunteer clinics like the ones I donated to a year ago are now coming to Kostas to see if he can get them medicine and various medical accessories. So he’s looking into that, with doctors to guide the process. There are people who donate unused medication, it’s starting up and the need there is great too.

Meanwhile, increasingly people come to O Allos Anthropos to be fed, who used to donate food themselves. Society is changing for the worse rapidly. The ‘nerve center’ I paid the rent for a few times allows some 100 homeless people every day to get a shower, have breakfast, do laundry, and have their children get help with schoolwork, often with pens and paper and books and schoolbags that are also donated.

According to Kostas, there are 155 NGOs operating in Greece. And while some undoubtedly do some good, it’s hard not to wonder what most of them do. Some of the issues with NGOs coming to Greece are obvious: for the big ones it’s their corporate structure, and for many it’s that they come from abroad and don’t know the culture. Though I don’t want to say anything negative about this, fact is there must be millions of euros flowing through this ‘industry’, and it’s hard to see where it‘s going.

It’s precisely because of such issues that I have chosen to support Kostas and O Allos Anthropos. They are Greek, they don’t make money from their involvement, so every penny goes towards those who need it most, and they are themselves as poor as those they help. And Kostas is the little engine that could who holds it all together, and holds everyone together.

Here is a video featuring Kostas from 2 years ago. What struck me when seeing it again is that he’s proud of going from handing out 20 to 200 meals per day. Since then, he’s gone to 5000 per day. And yes, I also do get the irony in the role that your donations to the Automatic Earth for Athens fund have played in making that development possible. I would deeply regret having to bow out now, and leave Kostas to himself. Not that he wouldn’t make it, but we, you and me, have made a big difference. But I can’t do it alone, it has to be as much of a community effort as O Allos Anthropos itself is. So please help.

I’ll get back to you about this soon. I’ve been breaking my head trying to figure out how to collect more funds to continue supporting O Allos Anthropos, lying awake at night over it. Yeah, we could turn to crowdfunding perhaps, but I think it’s important that it would have to be done right, and this is not my expertise.

Kostas is a bit of a difficult ‘customer’ to work with, but for good reasons in my eyes. He doesn’t want the group to become an official organization, he doesn’t want to become an NGO, and he doesn’t want to apply for government support. Because all these things would lead away from what he thinks is essential: people helping people.

He refused an award from the EU last year saying ‘you guys are responsible for this mess and this misery, I want nothing from you’. ‘Official’ support comes with conditions, with people wanting to tell you what to do and how to do it. But yes, it makes it harder to keep things afloat, and to help where help is needed.

Kostas has many ideas for how he would like to change and expand his operations, but for now just holding on to the basics is a battle. He was talking the other day about villages in the mountains where mostly older people live, isolated and in dire need of food and medication, of how he would like to set up a way to reach out to them.

I’ll leave this here for now. If anyone has ideas about for instance a crowdfunding campaign, please contact me at contact •at• TheAutomaticEarth •dot• com. For anyone in the medical profession, if you have ideas about how to get medication here from abroad, please let me know. There is a great need for insulin, various cancer drugs are not available in the country at all anymore, and then there are things like blood pressure tests, blood sugar tests, hearing aids and wheelchairs.

I’ll get a full list from one of the hospitals soon. Everything medical will run through them too.

For donations to Kostas and O Allos Anthropos, the Automatic Earth has a Paypal widget on our front page, top left hand corner. On our Sales and Donations page, there is an address to send money orders and checks if you don’t like Paypal. Our Bitcoin address is 1HYLLUR2JFs24X1zTS4XbNJidGo2XNHiTT.

To tell donations for Kostas apart from those for the Automatic Earth (which badly needs them too!), any amounts that come in ending in either $0.99 or $0.37 (don’t ask), will go to ‘The Other Human’.

Please give generously.

I made a list of the articles I wrote so far about Konstantinos and Athens. Not sure if it’s complete.

June 16 2015

The Automatic Earth Moves To Athens

June 19 2015

Update: Automatic Earth for Athens Fund

June 25 2015

Off to Greece, and an Update on our Athens Fund

July 8 2015

Automatic Earth Fund for Athens Makes First Donation

July 11 2015

AE for Athens Fund 2nd Donation: The Man Who Cooks In The Street

July 22 2015

AE Fund for Athens: Update no. 3: Peristeri

Nov 24 2015

The Automatic Earth -Finally- Returns To Athens

Dec 25 2015

Help the Automatic Earth Help the Poorest Greeks and Refugees

Feb 1 2016

The Automatic Earth is Back in Athens, Again

Mar 2 2016

The Automatic Earth for Athens Fund Feeds Refugees (Too)

By Raul Ilargi Meijer
Website: http://theautomaticearth.com (provides unique analysis of economics, finance, politics and social dynamics in the context of Complexity Theory)© 2016 Copyright Raul I Meijer - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Raul Ilargi Meijer Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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