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)
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.”
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Spain is doing everything right, but it’s being contaminated by Greece, according to Wolfgang Schaeuble
Spain has openly acknowledged problems with the refinancing of the financial markets and fueled speculation about further escalation of the crisis. “The markets are in fact no longer accessible in the current interest rates for Spain”, Cristobal Montoro, Minister of Finance said at the radio station Onda Cero. That admission put pressure on the € and caused further losses in equity markets.
Nigel Farage: "These are big changes - the euro is doomed. And your policy sir, even if Greece accepts the austerity you're putting upon them, even if for the next eight years they obey all of this, they'll be still in 2020 have a debt GDP ratio of a 120 percent; which makes one ask "What is the point?"
The answer: "Laughing"
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Greece was the second EU country with the highest unemployment rate, after Spain (22.7%).
In comparison with October 2011 unemployment in Greece was increased by 5.3% within a 12 month period!!
For the same month, Greece had the second highest unemployment rate in the EU for young people under 25 (47.2% when Spain reached 48.3%).
The price records were revealed by the "Market Supervision Department" of the Ministry of Development Competitiveness and Shipping and was published by the newspaper "Ethnos".
Multinational companies which hold monopolistic or oligopolistic position in the industry, continue to shape high margins to the detriment of Greek households , despite the economic downturn, the wage cuts and the increasing unemployment.