Saturday October 25, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
The stench of dirty money

By Nikos Xydakis

The start of the wave of arrests of important businessmen and high-ranking Proton Bank executives coincided with the European Union decision to agree to the disbursement of the next tranche of bailout funding for Greece.

Under certain conditions, the arrests could contribute, at least on a symbolic level, to turning around the sense of defeat and despair that is weighing down society.

According to the official version of events, the arrest of Proton board members charged with issuing bad loans was conducted as swiftly as it was in order to avert the possibility that they would try to flee the country and escape justice. The main shareholder of the bank, Lavrentis Lavrentiadis, was in fact ordered not to leave the country. Either way, the message being sent is that justice albeit belatedly works and is determined to bring about a catharsis. This message carries a good deal of weight with the beleaguered public by restoring a sense of justice, which has been seriously eroded in recent years.

The weak, the unemployed and the impoverished can begin to feel that justice will be done. This feeling, of course, does not make up for the very painful material losses they have suffered, but it does restore a sense of dignity on an intellectual level, and go some way toward mending their shaken faith in the countrys democratic institutions.

As such, and given that the process of catharsis is taken all the way, public sentiment toward the arrests proves that when a democracys institutions work as they should they strengthen morale and social cohesion.

On the other hand, the fact that the arrests took place now raises a number of other questions, such as why these awarded and much-lauded businessmen, these hyped-up managers, respected academics, media darlings and political cronies were able to lie, cheat and steal from their customers, their depositors, the state and society for so long without coming under the scrutiny of the Bank of Greece and the Ministry of Finance.

Did Greece need to be razed by the crisis in order for these crooks to be exposed or sacrificed, maybe? Was everyone ignorant of their machinations before 2008? Couldnt anyone smell the stench of dirty money?

The fact is that these questions must be answered for the catharsis to be complete, so maybe its also time for an investigation into the supervisory and monitoring mechanisms, into those who should have either been sharper at spotting the crimes or who failed to prosecute the offenders when they knew them to have dirty hands.

ekathimerini.com , Friday December 14, 2012 (21:38)  
End of reason, end of humanity
Banks need to step up
Tension for tensions sake?
Testing ground
Samaras pledges action after flash floods in Athens
Authorities began on Saturday assessing the damage done by flash floods in various parts of Athens a day earlier, with Prime Minister Antonis Samaras pledging that all those affected would b...
No court hearings for civil cases
Greek courts are to stop conducting hearings, which include witness questioning, for civil cases, according to plans drawn up by the Justice Ministry. Kathimerini understands that in a bid t...
Inside News
Nicosia says reforms are bringing results
Economic reforms in Cyprus are starting to yield results, the government said on Saturday after one credit-rating agency upgraded its rating and a second its outlook for the bailed-out count...
TAIPED waits for green light from Eurostat
Eurostat has frozen the securitization of properties that the Hellenic Republic Asset Development Fund (TAIPED) had been planning. The project, drafted to bring some 400 million euros into t...
Inside Business
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Nicosia says reforms are bringing results
2. Samaras pledges action after flash floods in Athens
3. No court hearings for civil cases
4. Greeces lenders seem adamant that govt must act on bailout commitments
5. Future of Attica trash set to become clearer
6. Policeman admits to murder of his cousin-in-law
more news
Today
This Week
1. End of reason, end of humanity
2. Banks need to step up
3. Samaras pledges action after flash floods in Athens
4. Nicosia says reforms are bringing results
5. Greeces lenders seem adamant that govt must act on bailout commitments
6. No court hearings for civil cases
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greeces closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Stop moaning and get in the game
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.