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Greece agains Europe

26/01/2015

The same idea just postponed 2.5 years

EugenR Lowy עוגן רודן

I really don’t get it what’s so difficult about to understand where Greece and Europe are heading too.
– Greece GDP is about 240 milliard Euro.
– Greece debts after write offs are about 400 milliard Euro, mostly external. The interest payments are about 20 milliard Euro 8% of the GDP.
– Greece annual current account deficit is about 30 milliard Euro or 13% of the GDP. There is no way to finance this deficit unless someone is willing to give them new loan.
– All what IMF &ECB &Others are ready to do is to change the old loans for new ones, with prolonged expiration date and reduced interest rate.
The general Greek public is surprised that non of all the write offs and restructuring of loans goes to their pockets, but in contrary it increases their economic misery.
The Greek people said what they want, they want to…

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