Temenugov: The Government is having fun with citizens’ money

On the occasion of this week’s new borrowing by the Government in the amount of 12.5 million euros, with which additional burdon is thrown upon the citizens, putting them and their children in an even deeper debt slavery, CIVIL Media requested statements from two experienced journalists and editors, economic experts, who have been following this area of work for years, they are:

Aneta Dodevska, author and host of TV show “Trend” on TV “24 News” and Goran Temenugov, editor of the economic section at TV “Alsat-M”.

[youtube width="600" height="400"]https://www.youtube.com/watch?v=C726gOdvJHw[/youtube]

“A question is being raised in the public on whether these borrowings are good in this period of time, more specifically, from New Years until now, and we can say they are – good. Though, only for the government, which not only did it borrow the ‘regular’ sum of twenty million euros in just two weeks, but it also borrowed an additional 22 million euros that we have no idea where it will be spent. This is really good for the Government, which is allowing itself the fine comfort of spending money, our money, even though it has been taken from the banks, in particular, treasury bills and government bonds have been issued. And, we the citizens, believe that this is some money that the banks give, when in fact, it is our money, our deposits that we as citizens and as firms have been saving in banks.

Therefore, this is a very good thing for the Government, and for all those who use direct benefits from the Government, that is, those who cooperate with it. But, the bad thing in all of this is that, at the end, all two million inhabitants living in this country will be paying the bill. And that is quite a big problem, because we don’t actually know how much the debt is, we don’t know how it is being spent and for what the Government is using this money.

In order for people to have a clearer understanding of this problem, that it is not an imaginary one, I will clarify it through an example of a household. If, for example, the owner, master, father, husband…, allows himself to take out a loan and to spend that loan by himself in a bar, on drinking, on tipping female dancers and putting money in their undergarments, it would be something that would be enjoyable for him. And at that moment, he will be having a good time, but what happens when he goes home with a debt, of let’s say, several thousand dollars. That debt is also passed on to his wife and his children! That means, that the wife will have to think, along with her husband, on how to return the money for the fun her husband had in the bar. Moreover, that debt can be passed on to the children, and have their future jeopardized. It would have been different if the father took out the loan in order to provide education and a better future for his children. That is productive borrowing.

We, the citizens, at this moment do not know what the amount of 22 million euros, which the Government has borrowed since New Year, will be spent on, and that is a huge amount of money, taken in just weeks! The problem is that we really don’t know whether the Government will go to a bar and splash money on female dancers, while the ministers have fun. Or, is it simply going to invest the money, which in the long run will benefit all of us, as citizens.

This is the basic question and the basic risk in terms of these borrowings. Borrowing by itself is not dangerous. I mean, it isn’t as terrible as we imagine it to be, oh no, it will be the end of the world if we borrow money, we will indebt ourselves, how will we ever return the money…If it is a worthwhile investment, it will be paid off in time and it will be worth it. However, due to the lack of transparency of this Government and how it has been functioning in the past ten 10 years, we really have no idea where this money will be spent!”