Update on Greece

This post was written by Philip Lane

A long WSJ article on the individual hardships currently experienced by the Greek population is here.

Also new from the European Commission:

The Second Economic Adjustment Programme for Greece – First Review December 2012

7 Responses to “Update on Greece”

  1. PR Guy Says:

    I can’t believe these salary figures for state owned companies in Greece. A senior manager with twenty years experience on €2,200 per month?

    Imagine that happening here?

    http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_17/12/2012_474877

    I can’t see the Greek economy doing much next year other than being crushed ……

  2. fergaloh Says:

    Depends on the cost of living
    Greece managed to avoid having a property bubble
    Unfortunately they made up for that by other means

  3. anonym Says:

    Don’t worry, it can’t happen here. Right?

  4. The Dork of Cork. Says:

    Slightly more cleaned up document from the leaked paper………..

    Still it does not hide that these commission men are Nazi hitmen…

    “Greece has been too slow to date in achieving the benefits this can
    bring. Shifting government assets to the private sector should improve efficiency and reduce
    prices and catalyze needed investment. It will also help to cover budget financing needs,
    reduce public debt, and improve market sentiment. The program in this area covers the
    identification of assets, their transfer to the Privatization Fund, measures to overcome
    obstacles to sales, and measures to strengthen the institutions executing the work.”

    Vee will find ways and means of making you bleed assets at absurd prices Yaa
    The Gospel according to a neo liberal bastard.

    Greece is infested with Quislings just like Ireland.
    Its oil balance has not moved despite the carnage.
    Why ?
    People are paid in a strong and inelastic non national currency.
    The purpose of the euro is extraction both during the credit inflation and money deflation phase of the operation.

    They close the railways down so people can burn diesel in their cars.
    This waste is then expressed as revenue for the vassal state and its bank controllers.

    PURE EVIL.

  5. Joseph Ryan Says:

    @Dork

    Pure Evil. That document.

    I wanted to get an idea of how GDP had fallen since 2008, how numbers employed had fallen etc. Not a hope of it. Just charts with uneven scales to deliberately hide and distort the truth. (Ref Graph 7, page 11, for example).

    But the appalling history of EU intervention in Greece is already being hidden, deliberately.
    However I must try to read it over the Christmas period, if only to inform myself fully of the extent of the institutional evil now ruling Europe.
    These people put the poor Brits stealing the Elgin Marbles in the kindergarden class of colonial exploitation and evil.

    For the record the final page of the report gives the names of those responsible for and contributing to this atrocity against the Greek people.

    “ACKNOWLEDGEMENTS
    The report was prepared in the Directorate General Economic and Financial Affairs, under the direction of Matthias Mors, director and mission chief, and coordination of Gabriele Giudice, head of unit. Contributors: Matthias Mors, Chris Allen, Olfa Alouini, Stefan Appel, Zeta Astra, Peghe Braila, Laszlo Butt, Pedro Cardoso, Giuseppe Carone, Jakob E. Christensen, Fotini Dionyssopoulou, Riccardo Ercoli, Leila Fernández-Stembridge, Luis García Lombardero, George Gavanas, Gabriele Giudice, Loukas Kaskarelis, Zenon Kontolemis, Peter Lohmus, Guillaume Prèvost, Christoph Ungerer, Rafał Wielądek, Ana Xavier, and Christos Zavos. George Gavanas and Christos Zavos provided statistical assistance and were responsible for the layout. The report was prepared in liaison with the ECB. Comments on the report would be gratefully received and should be sent, by mail or e-mail to:
    Gabriele Giudice,
    European Commission,
    Unit ECFIN-G-3,
    CHAR 10/236,
    B-1049 Brussels.
    e-mail: Gabriele.Giudice@ec.europa.eu

  6. The Dork of Cork. Says:

    @Joseph
    Yes - its a act of war….
    Despite the bullshit there was a credit inflation in Greece also.
    It was not just fiscal stuff.

    In my railway obsessed brain I sometimes think the Brits are only printing base like money units because the railways are private…..

    If they were state owned they would crush them.
    Although that is perhaps a bit extreme………..

    Anyway most of us can now agree the Euro is a devilish currency….
    A system where these people can extract the life force of a country and move it elsewhere on their global chessboard.

    It was always designed to be money without politics but that does not mean its money detached from power.

    The political institutions of the elite are by design not called political but they are very much political organisations as they make political decisions…….

    This is the modern market state.

  7. seafóid Says:

    Ceteris Paribus from May

    http://www.irisheconomy.ie/index.php/2012/05/14/greek-euro-exit-a-primer/#comment-281690

    some hedge fund went contrarian and made €500m on Greek Bonds in the meantime

    http://www.ft.com/intl/cms/s/0/a11f5be4-4940-11e2-b25b-00144feab49a.html

    I suppose it would be insane to expect a contribution to a few Greek charities

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