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With Business

Bureaucratic Brakes On The Greek Economy

Moving things from A to B is not as easy as you might think in a modern European country like Greece. Only 10% of the country's businesses hire a haulier for their transportation needs.

In Greece, as in any other country, you need a license to transport someone else's goods or produce for commercial gain. But the number of concessions was laid down in 1990, and hasn't been increased since. Anyone wanting to open a haulage company has to buy the license from an existing operator, usually for a small fortune. The poor customer bears the costs - with very little real competition prices are exorbitant. It's cheaper to send a truck from Munich to Athens than it is to send one from Athens to Thessaloniki.

Number Cruncher:

Germany's national debt totalled €1,692,000,000,000 in 2009, a sum that includes all federal, state and municipal liabilities. It was the highest level since 1945 and 7% more than in 2008 - the fastest it's grown in 15 years. The country's current public debt is now well over the limits set in the EU Stability and Growth Pact. But Germans can at least take some small comfort in the knowledge there are several other European countries in a much worse position.