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Greece: Next fuck up
  • Revenues posted a 7 percent decline compared with January 2011, while the target that had been set in the budget provided for an 8.9 percent annual increase.

    Worse still, value-added tax receipts posted an 18.7 percent decrease last month from January 2011 as the economy continues to tread the path of recession: VAT receipts only amounted to 1.85 billion euros in January compared to 2.29 billion in the same month last year.


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  • In ancients Greeks language we have an expression " Ουκ αν λάβοις παρά του μή εχοντος" Free Translation: "You can't ask MORE money from someone who has NOT money to pay"

  • Greece was among the first to fell victim of the international bankers in their latest master plan, but worry not, the rest will follow sooner or later as such is the plan. This whole global economical crisis is carefully planned and engineed by the parties that gain from it. As they say the New World Order is coming... and it requires global world government. So national govenments has to be removed from power and true democracies has to be destroyed as the power will be transferred to global economical elite.

    Money will run the world in every sense before you know it.

  • Jasketti, Who is the rest? And what plan?

  • It is a matter of time before Greece will default on its debt.

    When I look at the sovereign debts of most nations, $1700B+ France or $14000B+ US, even Germany's debt is > 80%, I wonder if there is truly a path to repay them. Today, all these nations are mainly servicing their (debt) interests. The solution may be, when and under what environment is it acceptable to say I default?

    FYI, there are 7+M Germans who only earns 600 euros per month or less today, since there is no minimal wage.

  • @PapaRomeo there are potential candidate countries all over europe. As @ghkqn pointed out the level of debt is really high all over the place. And it is not going get lower anytime soon.

  • Retirement age in Germany:67, payment monthly (12 month). Compare that to countries like greece or nearly any other in europe and you got one answer. Max tax rate germany 42% another answer. Tell me how to explain Germans why they must work longer and pay more taxes in comparison to any other eu country?

  • Some countries have a bit higher max rate. But in Germany the max rate starts much earlier

  • A large percentage of Greek kids are underfed. The government had to come up with measures to feed children in school, as many would faint during class. The madness that has come over this planet, i have no words for it.

  • In such cases I spend a lot for nonprofit orgs and would even pay 80 % tax. But the question is why these greece who could do it dont do it. And what is the problem with increasing the retirememt age for feeding kids?

  • But to be honest we are controlled by propaganda the problems are politicians who feed themself the money and fight for power. And the ordinary people are suffering a dark logic that is valid since ages...

  • @PapaRomeo

    The plan: As Mayer Amschel Rothschild stated in 1790...

    "Let me issue and control a nation's money and I care not who writes the laws."

    Simply put: Investment bankers want take control of goverments and thus the whole world.

    In the US this has more or less already happened and Europe is well on its way too... right wing politicians are doing their best to speed up the process.

    Europe is being driven so deep into debt that in no time the bankers will own us too. They keep creating these elaborate funds ands monetary instruments that are supposed be european collateral for all the debt.

    Funny thing is that many (broke) countries that are part of these collateral instruments are backin up the instrunment which is in turn backing up the loans of these countries... sick.

    So in reality europe is backing up its own debt by itself with the money and guarantees that it dont have in order to get more loans.

  • Greece's jobless rate rose to a fresh record of 20.9 percent in November 2011 from 18.2 percent in October, statistics service ELSTAT said on Thursday, as the debt crisis and austerity measures took their toll on the labour market.

    This rise takes the number of unemployed in Greece to 1,029,587 people. It also represents an increase of 7 percent since November 2010, when unemployment was at 13.9 percent.

    The number of employed fell by 9.4 percent (405,786 people) year on year and by 4 percent (164,506 people) month on month.

    The unemployment rate for people under the age of 25 reached 48 percent in November 2011.

    Greece's industrial production decreased at a faster rate in December, according to data released by the Hellenic Statistical Authority (ELSTAT).

    Industrial production declined 11.3 percent year on year in December, faster than the 7.8 percent fall recorded in November.

    Production in the manufacturing industry fell 15.5 percent annually, while mining and quarrying output increased 2.2 percent. There was a 3.9 percent annual fall in electricity production during December.

    Month-on-month, industrial output fell 4.3 percent in December, reversing the previous month's 4.6 percent increase. In 2011, industrial output dropped on average 8.4 percent from the previous year.


  • Some actual tales:

    The "new poor" includes Lambros Zacharatos, who navigates the streets of Athens with Leonidas Koutikas in the Klimaka van night after night. Until last year, Zacharatos worked as an interior designer, earning up to €4,000 ($5,300) in a good month. "All of the sudden, boom, the crisis was here and 90 percent of the commissions were gone," he says. Zacharatos and two others sleep in a room above the Klimaka offices. The bunkbeds and veneer cabinet are reminiscent of a youth hostel.

    Zacharatos says things happened very quickly. He lost his job, had no money to pay for his apartment, and within a few months he was out on the street. "Never in my worst nightmares would I have imagined that I would one day become homeless," he says.