Rich Greeks balk at financial aid for homeland

[“National unity” and “patriotic sacrifice” are urged upon the masses everywhere, as the crisis continues to deepen.  But these words are rejected by the rich, as they and their bank deposits are taken to Swiss banks and other shelters.  Here, that attitude of the Greek bourgeois toward “saving Greece” is described:  “Why should I give my money to people I consider useless?” — Frontlines ed.]
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Jan 30, 2012

by Gabriele Ochsenbein, swissinfo.ch


Wealthy Greeks living abroad, including in Switzerland, are extremely wary about investing in their cash-strapped homeland to help create jobs and boost the economy.

Switzerland is home to several ultra-rich Greeks, like the granddaughter of the legendary shipping magnate Aristotle Onassis, billionaire Spiros Latsis, who made his money through oil, housing and banking, and the heirs to shipping tycoon Stavros Niarchos.

The Stavros Niarchos Foundation funds a number of social programmes in Greece, including food aid schemes, to help people hit by the financial crisis. But few rich Greeks living abroad are rushing to invest in their homeland.

George Koukis, a successful software entrepreneur who lives on the shores of Lake Geneva, told German television he was proud to be Greek but he was not considering investing in his country.

“Why should I give my money to people I consider useless? Others here think like me, although they might not say so,” he said. Continue reading