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For Greece, it all started in late 2009. One bright day around mid-November, the now ruling Socialist government of G. Papandreou decided to take Greece out of the closet and reveal the true size of Greece’s deficit to the world. The funny thing is, back then no one was really shocked. “Greek statistics”, the constant revision of financial indexes by most governments and the inaccuracy of reporting were a mainstream practice up until then. That’s not a coincidence. In our recent history, ever since the revolution of 1821 against the Ottoman Empire, Greeks always owed money to third parties due to all times classic corruption practices, political clientelism, bought-off constituencies, tax-evasion and top rated, quality cronyism. Owing a couple of billions more in 2010 was therefore just business as usual.

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