BAD LOBBYING AND GREEK FORMULA 1

Greece is broke, under a mountain of debt, on the verge of collapse, being kept afloat by European loans and yet, it is moving forward with plans to construct a € 94.6 million Formula 1 race track. The Greek government will subsidize one-third of the construction costs equivalent to € 30 million.

This is bad lobbying and it certainly will not impress the Troika (EU-IMF and ECB) especially that it is not even clear how the foreign experts sent to assist the Greek government with its reforms will be paid in the future. The envoys' home countries are currently paying them while the EU is reimbursing them for travel costs. Greece is already getting a prodigious amount of international expertise. But it does not seem to be helping. There is every indication that the country will be dependent on financial aid after 2014. Greece's debt is overwhelming and will remain so as long as the country remains in the EuroZone, the recession is alarming and growth is insufficient, no matter how many envoys are sent to Greece. For  certain The Formula 1 Race Track isn't going to resolve the situation!!!!! and only serves to project a further negative image of the Greek Government decision-makers. It is an insult to the Greek citizens and all EU citizens that are footing the bill.