Forbes ccFormer US Presidential candidate and publisher of Forbes Magazine, Steve Forbes, used the platform of his magazine to pen an open letter to the prime minister and finance minister of Greece, Alexis Tsipras and Yanis Varoufakis. The full text of his letter appears below.

Dear Prime Minister Tsipras and Finance Minister Varoufakis:

You may have won a four-month reprieve of sorts from your creditors, but your situation is desperate, and everyone knows it, most particularly Europe’s paymasters, the Germans. As you just painfully learned, your ability to blackmail your creditors is a fraction of what it once was. Businesses, banks and others have had plenty of time to prepare for the worst-case scenario: Greece’s exit from the euro zone. Your own citizens have no faith in you, as evidenced by the massive cash withdrawals from Greek banks and the exodus of capital from Greece to supposedly safer havens.

You do have something of a case in your objection to raising Greece’s already horrific 23% VAT (a form of national sales tax). And you are right when you say the present program isn’t working. But your ideas–higher taxes on the “rich,” more government bureaucrats, virtually no privatization, higher minimum wages–are worse. Den Rest des Beitrags lesen »