News

The Path to Public Service at SEAS

News

Should Supreme Court Justices Have Term Limits? That ‘Would Be Fine,’ Breyer Says at Harvard IOP Forum

News

Harvard Right to Life Hosts Anti-Abortion Event With Students For Life President

News

Harvard Researchers Debunk Popular Sleep Myths in New Study

News

Journalists Discuss Trump’s Effect on the GOP at Harvard IOP Forum

A PONZIED PREMIER

NO WRITER ATTRIBUTED

Of all forms of government, the dictatorship moves with most speed. And among dictators, Premier Pangalos rivals Mussolini for absoluteness and Mustafa for ingenuity. The Greek ruler's latest bid for fame is based on financial wizardry of a sort Monsieur Caillaux never conceived of. By simple proclamation, so "Time" reports, Pangalos forces every possessor of a bank note with a face value of more than twenty five drachmas to snip an end therefrom. The snipped notes, worth three quarters of the legend printed on them, continue to circulate dolefully while the other quota goes to the "National Forced Loan".

What gives the project its touch of genius is the tender-hearted stipulation that each year the equivalent of $2,000,000 will be given away in lotteries to lucky bondholders. The Bolsheviki crudely killed the capitalists; the French socialists propose to tax their moneyed classes unmercifully; Pangalos gives the Greek tax-payer a mathematical chance. In spite of the snipping of notes, the snapping of jaws will be lessened by the hope of luck.

Pangalo's reliance on the old principle of chance is not without shrewdness. Even in America, state lotteries were the most popular of taxation until a puritanic court declared them illegal. Indeed, the Greek premier's clipping coup d'etat bids fair to place him in the Ponzi class of promoters.

Want to keep up with breaking news? Subscribe to our email newsletter.

Tags