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The Annotated Timeline Of A 6 Year (And Counting) Greek Tragedy
It ain't over 'til the fat lady sings... and she hasn't even warmed up.
A glance back at the incredibly repetitive timeline of events surrounding the disaster that is Greece's debt load and growth outlook, suggests that, while markets were euphoric about a 'deal' on Friday, the Monday morning hangover reality is - as one local noted - "nothing has changed."
Some context for the collapse...
Chart: Deutsche Bank
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it is called "PUSH THE CAN FURTHER DOWN AND AS MUCH AS POSSIBLE ECONOMY"
Greece needs electric car subsidies
And solar panels on the Parthenon!
They need to get up and work and stop buttfucking!
Three years of austerity: "Zero in the quotient" for public debt
portuguese numbers are fake.
thousands of people are working 3h/day, and a few hundred thousand are "self-employed", a concept that over here means you work for someone, write an invoice, pay your own IRS and welfare getting absolutely nothing in return, some months you bill zero, others you're a net debtor, and you count as employed.
real figure bi civilized criteria? 25%.
"by".
All Southern European countries are number fudgers and dishonest people. That is why northern Italy wants to get out of Italy!
What's the worry, DAX at record highs, that's all that matters right?
If EU accession plans for the Balkans had gone smoothly, by now Greece would have stood prominent amongst a Balkan block of nations within the EU. Balkan disputes and insecurities have stymied any progress during the last 15 years and led to frustrations on all sides including the US. Greece enjoys a special relationship and friendship with Serbia, ties that go back centuries. By removing sovereign territory (Kosovo) from Serbia by military force, the US damaged relations not only with Russia but also with Greece. Greeks saw the war as an unnecessary act of violence and overwhelming use of force against a small defenseless Balkan state already ravaged by years of war, by its fellow NATO members. The US's tendency to use military force and violence to settle disputes for the sake of expediency when restraint is urged by its allies does not go down well in Greece. There are regional, historical and cultural ties between the Greek, Serbian and Russian people that the US must recognise. Conflict with one will likely bring the US into disrepute with the others. The rise of anti-American sentiment in Greece over the last 15 years is not without foundation.
Budapest objects....
Hellenic ties with Sebia are more complicated because there is a precedence of serbian claim of Thessaloniki during WWI. As for russian ties, there is ,was at least, a great greek popoulation in former CCCP states. The newly apointed mayor in Dobaltsevo is Greek of 6th generation. This is indicative of the strong ethnic identity is amongst Greek.
Anyway Philby has turned to kick-ass song by Rory, so take my upvote.
"The Fall Guy."
The unknown stuntman "that makes Eastwood look so fine."
Es muy popular indeed...but all those cameras and modeling are just for show.
"I got traded for a case of beer."
The Nein Nein article clarified for me what was confusing Friday. There are SO many steps to getting the currnt programme extended, I can't help but to think it will be derailed. How could it possibly go smoothly? I don't think the Syzria party lied (completely) to get elected... unless they got skooled in the realities of international finance during the past 2 weeks and now know what they didn't know.
The % GDP Drop chart is important.
So the Trillions of Keynesian bailouts have only moved the bottom of the GDP drop out a few years.
They have not affected the net drop, only the timeing.
They have hidden the real issues from sight, so they have not been worked on.
I wonder whether Keynes would view that as a success?
This is a Tragedy. The Central Bankers sell derivitives, that money was abused and many here say it's the peoples fault? I feel that those that packaged the derivatives knew what they were selling, and on both sides are the criminals. These are the people that hold positions of trust and should be accountable. Yet.... no......the blame goes to those who suffer. Again leading to wars.
Ok, so this article has a chart saying Portugal's debt to GDP ratio is around 120%, while the "This is the Biggest Problem..." article on Zero Hedge today is saying that the same number is 358%. One of these is wrong; which one?