Greek police issued a statement that any public gatherings and marches would be banned that time in a large area around the city center. (Follow the link to see the map below)
Greece fulfills its commitments for cuts on flexible spendings
TROIKA isn't going to renegotiate Memorandum before its implementation!
Do YOU play packman?
Martin Stuart Feldstein (George F. Baker Professor of Economics at Harvard and also president emeritus of the National Bureau of Economic Research (NBER) ) talked about the prospects of a Greek euro exit in an interview at Bloomberg.
He expressed the opinion that there is no specific formula that the countries can follow in order to solve their economic problems. Each country is different... and in the case of Greece and there is no solution but to exit the euro zone since the country's economy is in terrible situation that can not be fixed...
“Well, I think it would create chaos, it would create problems” says Mr. Feldstein and he adds,
“It would be better for Greece to be able to adopt a new currency, a drachma, allow the currency to fall as currencies did in East Asia and in Latin America; that would give a significant boost to growth in Greece as Greeks shift their spending to domestically produce goods and services.”
Watch the video below:
In his article in "Financial Times Deutschland", the famous economist Nouriel Roubini, who had predicted the global recession of 2008 in 2006, says that either this year or the next, Greece will be forced to go bankrupt and leave the eurozone. This will happen even if a government will finally be formed after the elections of June.
Mr. Roubini says that Greece has fallen into a vicious cycle of bankruptcy, lack of competitiveness and continuous recession.
The report has been hammered out by Alpha Bank and Rothschild, which are among the government’s consultants regarding the Greek public real estate and asset privatizations program.
It should be noted that, on September 15, 2011, the Inter-ministerial Committee for Asset Restructuring and Privatizations (ICARP) decided who the consultants (related to the privatization of public property) would be and of course their payments.... payments of millions of euros!
Within the framework of the second memorandum in June, we expect new measures required by the Troika.
The Center for Economic Research of Greece, at the behest of the government, wrote the report contained in government expenditure intended to drastically cut.
Interventions of the measures of June include the following areas:
Education - Reduction in salary of kindergarten teachers, teachers, high school professors and academics, possibly with a parallel increase in their working hours.
The creators of Debtocracy, a documentary viewed by millions of people around the world, present their new production, entitled CATASTROIKA.
They analyze the shifting of state assets to private hands. They travel round the world gathering data on privatization in developed countries and search for clues on the day after Greece’s massive privatization program.
Watch the full documentary with English subtitles below:
During his interview in Sunday's La Repubblica newspaper Mr. Shaeuble stated:
"I am confident the difficult measures decided with the government in Athens will put it on the road to recovery,»
Greece averted the immediate threat of an uncontrolled default on Friday when private creditors agreed on a bond swap that will cut the country’s public debt and clear the way for a new 130-billion euro ($170.55 billion) bailout.
Schaeuble said he was sure the best decisions possible had been taken against a backdrop of uncertainty.
“But it wasn’t easy and I cannot give a 100 percent guarantee of success,» he said.
Mike Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), gave an enlightening interview to Paul Jay from RealNews.com talking about what's happening now in Greece from a financial but nevertheless pretty understandable point of view.
Click on "Continue Reading" to watch the video.
IMF examines the option of contributing "only 13 billion €" to the new austerity help plan to Greece, reports the Wall Street Journal.
"IMF's level of participation has not yet been finalized" but the international financial institution is examining this option according to WSJ's sources.
IMF agreed in May 2010 to provide a loan of 30 million euros to Greece, contributing to a plan of 1100 billion euro.
Not only this was not enought for the greek economy to recover; now it's going through deep recession, which has actually increased public debt, notes the AFP.
According to WSJ, executives of the IMF express fears that IMF has been 'overly' exposed to the debt zone in the EU.
According to information from parapolitika.gr, a request for the prosecution against former Prime Minister George Papandreou and former Finance Minister Giorgos Papaconstantinou was submitted to the prosecutor of the Supreme Court J. Tentes, by the economic prosecutor Gregory Peponis. The prosecution has to do with false economic data that brought our country to the IMF.
Specifically, the Public Prosecutor Gregory Peponis, sent the file for the case of the Greek Statistical Authority (ELSTAT) to the prosecutor of the Supreme Court, in order to be forwarded to Parliament for contingent liabilities of politicians (members of the ex- government).
Former members of the Board of ELSTA have testified that the 2009 deficit was purposely inflated!
Similar information were also revealed by the former vice president of the Authority Nikos Logothetis, who is now prosecuted for violation of personal data, after a complaint report of the President of ELSTAT Andrea Georgiou, for theft of official data form emails.
Former PM Papandreou name has been also involved in revelations of strange economic games by independent MP Panos Kammenos:
Spain, Portugal and Cyprus were downgraded by 2 levels while Slovakia, Slovenia and Malta by one.
S & P degraded the long-term debt of nine Member States of the Eurozone due to the inadequacy of the measures taken in order to battle the systemic weaknesses of European economies.
German economy is still considered as stable. European countries that remain unchanged are: Switzerland, Sweden, Luxembourg, Netherlands, Norway, Finland, Denmark, Germany and Britain .
The images he saw at the center of Athens reminded him the Argentina of 2001. The writer noted that he sees many similarities on the measures imposed by the International Monetary Fund at Greece with the ones imposed in Argentina.
"I noticed that the political class in Greece behaves in a manner similar to that of Argentina. The middle class in Greece has received a big hit just like in Argentina on 2001"
As announced today by the Federal Statistical Office of the Germany the increase of immigration recorded in the first half of 2011 was tremendous!
Germany receives the largest wave of immigrants. Approximately 435,000 people who come from abroad settled in Germany in the first half of 2011 (19% more than the corresponding period of 2010). 381,000 of them were Europeans. The migration of EU citizens raised at 29%.
While Greek society is struggling to cope with harsh austerity measures, Greece's state gaming company is going to finance the set-up of 819 gaming halls!
The Greek state gaming company OPAP will subsidise the hosting of 16,500 video lottery terminals, which it expects to be operational within the next year.
Each gaming hall will cost about €80,000, operate on a 24-hour-basis, have an area of 125 to 150 square metres and house between 15 and 25 slot machines.