Columnist Giorgos Kyrtsos thinks the country’s bailout is a failure, in spite of the severe austerity policy implemented. “Wealth production is declining, recession is raging, there aren’t enough tax revenues, foreign trade deficit keeps widening each year, Greek banks loose an average of 3 billion a month in deposits. It’s a fact; the country will not be able to pay back its €350 billion debt. And it isn’t a problem of cash assets. Greece is structurally insolvent.”
demonstrated by lasting rumors about the country’s bankruptcy or exit from the euro area, as well as possible new austerity measures driving the Greeks to the streets again on May 11th. (Ref. 110312)
Columnist Giorgos Kyrtsos thinks the country’s bailout is a failure, in spite of the severe austerity policy implemented. “Wealth production is declining, recession is raging, there aren’t enough tax revenues, foreign trade deficit keeps widening each year, Greek banks loose an average of 3 billi
…Do you have information to share with us?