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Taxation

Viewpoint – Greek Tragedy: The Result of Longstanding Budgetary Irresponsibility

In discussions of the crisis in Greece, the issue of the responsibility of the Greeks for having gotten themselves into this situation is often ignored. The purpose of this Viewpoint is to remind readers that the Greek tragedy unfolding before our eyes did not happen overnight. Although surprising in its magnitude, this crisis is the result of a long history of budgetary deficits and of ruinous public spending decisions. Indeed, the Greek government has been living beyond its means for a very long time.

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