Greece: Random Facts and Trivia

Some random facts and trivia for the country of the world Greece, problems with inflation, origins of the word idiot, banks, and dancing.

GREECE

NOTES

Greece's rate of inflation is 33.4%-higher than any other country in Europe.

It was only with worldwide acceptance of the Jules Dassin film Never on Sunday, starring Melina Mercouri and Dassin, that educated Greeks permitted themselves the luxury and enjoyment of listening to and dancing to the Bouzouki music of movie fame. Before that time it was frowned upon by upper-and middle-class Greeks as something best left to those lower-class creatures.

The ancient Greek word for "private citizen"-i.e. someone not involved in public affairs-is idiotis, which means roughly the same as "idiot" in English and French.

Corporate investment in Greece has been tremendous, but at the present time it looks like American investors will not be so favored and Greece will turn more and more to the European market. The U.S.'s main interest in Greece has been bases for the 6th Fleet, but the development of the new Government may put an end to U.S. existence in the area.

In 1972 the Crocker Bank led a 10-bank consortium to lend the Bank of Greece $70 million. At the same time, the U.S. sold Greece $400 million in arms. France also sold the military Government $800 million worth of guided missile patrol boats, 125 tanks, and 40 Mirage supersonic fighter bombers. Though the Government could not afford it, on July 4, Greek armed forces were granted permission to borrow money from Greek banks to buy this equipment which would strengthen "military preparedness." It does in fact seem that the U.S. was, in part, giving the military Government the money to purchase the arms that the U.S. was offering, filtered through the Bank of Greece.

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