Why Debt Sustains Corruption in Greece and Vice Versa

Posted on July 21, 2015 by Yves Smith

Yves here. This post makes some important observations about how the elite levels of Greece engage in rent-seeking, aka corruption, and can continue those strategies even in the face of economic collapse, to the detriment to the rest of Greek society. It’s an important counter-frame because many accounts of what has happened in Greece fails to take sufficient account of the role of parties within Greece of profiting despite increasing desperation overall.

http://www.nakedcapitalism.com/2015/07/why-debt-sustains-corruption-in-greece-and-vice-versa.html