The vulgarity of the Greek 1% - they are shameless

[malaise]

http://www.guardian.co.uk/world/greek-election-blog-2012/2012/jun/13/greeces-super-rich-low-profiles?intcmp=122
<snip>
Nearly three years into their country's worst crisis in modern times, life goes on as normal for Greece's super-rich. As the sun sets, oligarchs, shipowners, singers and media stars gather at the Poseidonion hotel on the island of Spetses opposite the little bay. They tuck into a menu that includes pasticcio laced with foie gras. Among them is a middle-aged man in a T-shirt proclaiming: "More is less".

Three days before Greeks cast their ballots in a make-or-break election, their country could not be more divided. Here there is no talk of the pain of crisis – the only topic of conversation elsewhere in Greek society. The destitution and despair of Athens is a world away – and for many quite clearly it is best kept that way.

Greek shipowners, who have gained from their profits being tax-free and who control at least 15% of the world's merchant freight, have also remained low-key. With their wealth offshore and highly secretive, the estimated 900 families who run the sector have the largest fleet in the world. As Athens' biggest foreign currency earner after tourism, the industry remitted more than $175bn (£112bn) to the country in untaxed earnings over the past decade. Greece's debt currently stands at €280bn.

An estimated €8bn flowed out of the Greek banking system in May as speculation over the country's possible exit from the eurozone mounted. Another €4bn was reported to have been withdrawn in the last two weeks – on top of an estimated €20bn since the start of the crisis in late 2009. Stories of rich Greeks sending their wives and best friends on "shopping missions" to remove secret hoards kept in banks in Switzerland and Cyprus are legion.

[roguevalley]

1. guns will follow them wherever they go eventually. they should remember they could have

made it different but these freaks never learn.

[malaise]

2. All I say is remember the French Revolution

Another day is dawning

[kentuck]

3. "More is less"?

The motto of the 1%...

[malaise]

5. It's less for the 99%

[lunatica]

4. It's about time journalists started writing about these things

This is the human side of the economic fallout. It's a lot different than writing about it as if it's some abstract statistical study and start writing about it in human terms, giving people's names and quoting the key things they say. Good for The Guardian for doing this.

And thank you malaise for posting it. It now starts to feel real.

[Blue_Tires]

6. +1