Greece Runs Out Of Ink, Can’t Print Tax Forms!
by Tyler Durden
If you thought that last night’s news that Greece had been consulting (and paying) the far more “stable” Irish Central Bank on how to, oh, avoid bankruptcy, this may jus top it. In an FT article describing the new set of austerity measures most of which are very loud threats that Greece will very soon (really) take austerity seriously (they promise), we stumble across the following gem: “The conservative opposition New Democracy party said a shortage of ink had prevented the computerised tax centre at the finance ministry from sending out claims to taxpayers over the last 10 days. There was no response from the finance ministry to the claim.”…
So…. let’s get this straight. If austerity does not force all the tax collectors to be on permanent strike which it appears it will, than the sharp ink shortage will surely destroy any attempts to generate state revenue through tax collections. And there is more bad news: when Greece goes back to its prior currency, the drachma, or the obolus, or goats, or whatever, there will be no ink to print it. And since Greece will enter hyperinflation shortly following its evolutionary transition from disorganized banana republic to organized hyperinflationary implosion, this may be a concern.