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September 11, 2012

The debt reduction war continues

"none of these organizations want to die"

A Reuters article by Renee Maltezou "In a Greek junkyard, signs red tape defeating cuts" describes how renaming and shifting of government entities on paper further confuses the efforts to create cost savings and to meet the demands for debt reduction:

"...efforts to consign ODDY itself to the scrapheap, along with its loss-making payroll costs, show just how hard it is for the Greek government to satisfy foreign creditors' demands that it shut down dozens of state agencies to save money; it may say it is waging war on red tape, but the red tape may be winning.

...when some 50 state entities were slated for closure in 2011, ODDY was on the list.

...But that is all on paper. Employees and government officials who spoke to Reuters have revealed that ODDY still exists in all but name, for as DDDY - no longer an Organisation, but now a Directorate - it has simply become an office of the Greek Finance Ministry. And while staffing has been cut, many costs have simply transferred from wages to pensions, and the shake-up has all but paralyzed its ability to run auctions to make money."

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