"Greece has confirmed that a nation can spend itself into a fiscal crisis.
And the Greek experience also has confirmed that bailouts exacerbate a fiscal crisis by enabling more bad policy, while also rewarding spendthrift politicians 
and reckless lenders (as I predictedwhen Greece’s finances first began to unravel).
and reckless lenders (as I predictedwhen Greece’s finances first began to unravel).
So now let’s look at a third question: Can a country tax itself to death?
Greek politicians are doing their best to see if this is possible, with a seemingly endless parade of tax increases (so many that even the tax-loving folksat the IMF have balked).
Greek politicians are doing their best to see if this is possible, with a seemingly endless parade of tax increases (so many that even the tax-loving folksat the IMF have balked).
At the very least, they’ve pushed the private sector into hospice care.
Let’s peruse a couple of recent stories from Ekathimerini, an English-language Greek news outlet.
We’ll start with a rather grim look at a very punitive tax regime that is aggressively grabbing money from taxpayers with arrears..."
Read on and be warned!
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