Chart Of The Day: The European Commission's Greek GDP Forecast
Reuters has been kind enough to release the "Second Economic Adjustment Programme for Greece" - a 195 page blueprint that Greece has to follow (unlike the first one, which it kinda, sorta ignored) in order for the money to keep flowing (money to bail out Europe's banks that is). We can save you the reading: below is the only chart of note. This is what the European powers expect Greek GDP to do. It needs no further commentary.
Yup. You read that right:
Also we wonder if Greeks have seen the line "Compensation of employees, private sector per head" which just happens to collapse by 13% in 2012, 3.8% in 2013 and 2.2% in 2014? Does that all add up to 0.0% by 2015?
An unchanged GDP in one year from the economy that just did this:
Not to mention a "banking" sector which has no deposits left:
So the people on the list below: please don't try to calculate your IRR (of European bank funding) - it is negative. But be sure that many more such Tables will be published over the next year.
Full completely meaningless hockeysticking paperweight can be found here.