Case in point, Christine Lagarde sent a list of Swiss bank accounts held by Greek politicians totaling billions of Euros.

Kostas Vaxevanis, editor and publisher of Hot Doc magazine, managed to get a copy of the list, and published it. The Greek authorities promptly arrested him:

The Greek police arrested and then quickly released the owner and editor of a respected investigative magazine on Sunday morning hours after he published a list of more than 2,000 Greeks who were said to have accounts at a bank in Switzerland, throwing new controversy into a scandal over whether the government is actively pursuing suspected tax cheats.

The dramatic moves, which tens of thousands of Greeks were following on the Internet, came days before Greece’s European partners were to meet to decide whether to grant tens of billions of euros in new aid to the financially struggling nation. Greece’s lenders have long said that the government must crack down on tax evasion to be eligible for more aid.

The police said they had been ordered to take the editor, Kostas Vaxevanis, who runs Hot Doc magazine and who is one of the nation’s most famous investigative journalists, into custody on misdemeanor charges. The Greek news media reported that the charges concerned the violation of the privacy of those on the list.

Mr. Vaxevanis posted a message to his Twitter account early Sunday saying that 15 officers had surrounded the home of a friend with whom he had been staying “like Greek storm troopers in German uniforms.”

Mr. Vaxevanis soon followed up with another Twitter message: “They’re entering my house with the prosecutor right now. They are arresting me. Spread the word.”

Hours later, he was released from Athens police headquarters to loud cheers from a crowd outside. He is to face a magistrate at noon on Monday, when his trial date is to be set.

………

George Papaconstantinou, the ex-finance minister who received the list from Ms. Lagarde, told a parliamentary panel last week that he had been advised that he could not use it because a former HSBC employee obtained the names illegally. Mr. Papaconstantinou said that after receiving the names, he had passed them on a memory stick to the chief of Greece’s financial crimes unit, Ioannis Diotis, who later gave it to Mr. Papaconstantinou’s successor, Evangelos Venizelos, the current leader of the Socialists. Mr. Diotis said that Mr. Venizelos had not instructed him to investigate it.

The Greek elites in general, and their ruling classes in particular, are deeply corrupt and dysfunctional.

The EU and the IMF would have been far better served by starting with the exposure of the corrupt elites and the confiscation of their ill gotten gains.

Passing along a list, with the knowledge that it would almost certainly be ignored, is an inadequate response. It ill serves the Greek people, the EU, and world economy.