"Grease" FISCAL NIGHTMARE HAS JUST BEGAN!!!

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“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#2 Nov 7, 2012
ATHENS — Destabilized by scandals yet held together by a lack of alternatives, the Greek government prepared to push a raft of politically toxic new austerity measures through Parliament on Wednesday

The new austerity measures, which include further cuts to pensions, civil service salaries and social benefits, are expected to reduce GDP by 9%, dealing a new blow to an economy entering its sixth year of recession and likely adding to an unemployment rate already exceeding 25%.

Greece is still staggering under a mountain of debt, which is expected to rise to 189% of GDP in 2013, from 175.6% now, as interest piles up on all the loans Greece must repay.

The deficit next year is expected to swell as well, to 5.2% of G.D.P. from a forecast of 4.2%.

Meanwhile, the bulk of new aid —$30 billion — is going directly into Greece’s feeble banks, which must be recapitalized after sustaining severe losses this year

But Constantine Mihalos, president of the Athens Chamber of Commerce, said that was unlikely.“The funds can help improve the health of the banks, but that is not sufficient to provide liquidity even in terms of working capital, which is of essential importance for companies,”

The measures include a proposal to raise the fares on all public transportation and to reduce benefits to families with children.

The retirement age will rise to 67 from 65, and the current pool of 665,000 civil servants will be reduced by 80,000 through 2016.

The most disputed measures involve changes to labor laws that would allow private employers to negotiate salaries beyond collective labor agreements; the abolition of a 10 percent salary increase for employees who marry; and a reduction of severance for workers at private firms.

http://www.nytimes.com/2012/11/07/world/europ...

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#4 Nov 15, 2012
"...The masks were starting to come off. The real story was getting out.
...
Greece has a huge problem, a democratic one at heart. The nation is controlled by a toxic cadre of politicians, businessmen, and journalists who watch each other's back,
...
The entire economy is controlled by six or seven families and not a paper in the land will write about them. Nor do they compete with one another: most branches have cartels. They divided the market like mafia dons. Not even the leftist press writes about them,
...
The country is impoverished and imploding, its healthcare system is collapsing but there's a huge club of wealthy people and businessmen with friends in government who don't have to share the pain. "

http://www.haaretz.com/news/features/greece-l...
Nick the Greek

Aberdeen, UK

#5 Nov 15, 2012
Turkistani - TurkoSlavic Monkey!

Mehmeto-Goranic Abdul-Monkey

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#6 Nov 16, 2012
The economy and the welfare state have gone down the tubes in Greece, leaving behind rampant poverty and a heartbreaking humanitarian crisis.

“Soup kitchens for the middle class, a huge jump in homelessness and mental disease, daily suicides, lack of basic medicines, cancer patients turned away from pharmacies, and hospitals ceasing operation because of a lack of basic supplies”— this is The Guardian’s postcard-sized summary of the Greek Depression.

Shockingly, it could be worse.

Read more: http://thechronicleherald.ca/opinion/176160-l...
Yurin Kaduriman YukiTurk

London, UK

#7 Nov 16, 2012
greex been going down tubes from times of first pasha bin wallahs, is it Jamal Ali bro!

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#8 Nov 18, 2012
Greece to need aid beyond 2014 - ECB

Greece will need yet more international financial assistance beyond the agreed bailout programs through 2014, a European Central Bank (ECB) board member says.

The Greek government probably won't be able to finance its debt on financial markets in 2015 and 2016, and will need another assistance program, Joerg Asmussen told German public broadcaster ZDF on Sunday.

http://www.skynews.com.au/businessnews/articl...
FYRoM Abdul-Monkey

Aberdeen, UK

#10 Nov 18, 2012
Mehmeto-Goranic Abdul-Monkey

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#11 Nov 20, 2012
ATHENS, Greece (AP)— Striking municipal workers rallied in Athens and occupied local government buildings around the country Tuesday as they protested against another round of austerity that will see big cuts in jobs and funding.

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#12 Nov 20, 2012
Faced with the latest appalling Greek debt projections, the (Euro) group’s chairman, Jean-Claude Juncker, emerged from the meeting arguing that the timetable for Greece’s return to sustainability (in EU-land, a debt ratio of 120% of GDP is sustainable) should be pushed out to 2022.

This is pure fantasy and even the inimitable Mr. Juncker knows it.(Remember this is the man who, when caught lying last year about an emergency finance ministers meeting on Greece, responded “When it becomes serious, you have to lie.”)

IMF are now refusing to play along with the EU’s Greek fantasy.

http://www.forbes.com/sites/karlwhelan/2012/1...
Abdulovic Goranic-Monkey

Aberdeen, UK

#13 Nov 20, 2012
TurkoSlavic Monkey

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#14 Nov 21, 2012
European paymaster Germany said a plan to provide Greece with funding until 2016 was being developed.

http://www.reuters.com/article/2012/11/21/mar...
Nick the Greek

Aberdeen, UK

#15 Nov 21, 2012
Monkey

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#16 Nov 21, 2012
Antonis Samaras (ethnic Vlach from Samarina), Greece’s prime minister, criticised the bloc’s “negligence” for delaying a decision on how to address the country’s long-term debt pile and accused the eurozone of reneging on its side of the deal to help his stricken country.

http://www.ft.com/intl/cms/s/0/dc9348e8-33f1-...
FYRoM Fraudster Monkey

Aberdeen, UK

#17 Nov 21, 2012
Culture Thief - Identity Thief

Yugo-Monkey!

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#18 Nov 23, 2012
Germany borrows cheaply, and passes the loans on to the Greeks at a higher rate. As any credit card company will tell you, that is an easy way to make a living — as long as you get repaid in full.

But the Greek loans won’t be repaid. That much is obvious to anyone. The moment when that simple truth has to be faced is fast approaching.

Germany, for example, has lent Athens 35 billion euros. A 50% write-down, the very minimum likely to be necessary, will cost Germany 17.5 billion euros — enough to make a significant dent in its budget.

At that point, leaders in Germany will have to explain that taxpayer’s money is keeping Greece afloat, and keeping it in the euro. And they will need to justify that decision.

But in fact the policy is clearly failing.

No matter how much money is thrown at it, it is hard to see how the Greeks can stay in the single currency now, or how their economy can recover with the policies now being imposed on it.

Why should taxpayers support a strategy that isn’t working?

http://www.marketwatch.com/story/your-tax-mon...

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#19 Nov 25, 2012
The respected German IFO Institute is more honest than European leaders in admitting that more financial engineering is not going to resolve the Greek crisis. The Institute states that:

“Upholding euro membership for Greece has by now become an act of cruelty. It is not being done in the interests of Greeks. It is being done for the Project, by enforcers of the Project. Only by breaking free can Greece restore a minimum of economic vibrancy and national dignity.”
FYRoM Imposter Monkey

Aberdeen, UK

#20 Nov 25, 2012
Yugoslavic Identity Thief

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#21 Nov 25, 2012
http://www.google.ca/url...

To be continued...

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#25 Nov 26, 2012
FXstreet.com (Barcelona)- According to Dow Jones, Greece is set to get disbursement of EUR43.7 billion in three tranches, citing Euro-Zone sources. It has also been reported by Reuters that EZ ministers agree to try buy back Greek debt at 35 cents …

“IRONEA 338 B.C.E. ”

Since: Mar 10

Solun, Occupied Macedonia [+]

#26 Nov 26, 2012
BRUSSELS (MNI)– Greece’s international bailout partners reached aprovisional agreement early Tuesday to pay some overdue aid to Greecenext month

Speaking to reporters after 13 hours of talks, the head of the Eurozone finance ministers’ group, Jean-Claude Juncker, said that formal approval of E34.4 billion in aid would likely take place on 13 December provided that the deal is approved by Eurozone parliaments and “following a review of the outcome of a possible debt buy-back operation by Greece.”

Payment of the remaining E9.3 billion of overdue aid, would be dribbled out in three tranches in the first quarter of 2013, provided certain milestones, including a reform of the Greek tax system, are met in January, the Eurogroup said.

http://www.forexlive.com/blog/2012/11/27/gree...

HEHEHEHEHEHEHEHEEHEHEHEHEHEHEH EHEHEHEHEHEHEEHEHEHE...

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