The Corner

Pour Encourager Les Autres?

Here’s a report in the French newspaper, Les Echos, saying that the Greek authorities are going to release the name of an MP who transferred €1,000,000 to a foreign bank account at the same time as Greeks were being urged by their government to keep their money in domestic banks. The transfer was legal, the newspaper reports, but the authorities consider that it raises “moral questions” at a time when most Greeks are increasingly unimpressed with their political class. There is talk of a rat and a ship.

Les Echos quotes the Greek finance minister’s claim that €65 billion has been pulled out of banks in Greece since 2009, of which €16 billion has been moved abroad. Of that latter total 32 percent has apparently been deposited in British banks and 10 percent with the Swiss.

The idea of this naming and shaming is, presumably, to discourage others from doing the same thing. It’s easy to think that it will have the opposite effect.

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