The Greek government is expected to be unable to pay wages for state workers and pensions next month without a planned injection of £8billion of EU cash.
If Greece is thrown out of the Euro Zone and must restart their own currency, the drachma, how exactly do they do that with Zero money in the till?
Europe is sliding into a full-blown industrial recession with contraction spreading to Germany and a drastic decline under way in Italy, greatly complicating efforts to contain the region’s debt crisis.
Viewer in the USA (if I had any viewers), this is what the end result of blind belief in “Stimulus” looks like. Even now the concept of not spending what you don’t have or “Austerity” is denounced and protested against. Well, all the protests in the world won’t put one drachma in the bank. Greece is out of money, OUT OF MONEY. End Game.
There is a 70pc chance the British economy will fall back into recession if policymakers adopt a “muddle through” approach to the eurozone crisis, the National Institute of Economic and Social Research (NIESR) said.
How bizarre, though we in the US aren’t improving our own economy perceptively, the Euro-Zone is falling so fast we look better by comparison.
Gee, I’m sorry this post seems to be all Doom and Gloom! Why don’t we forget about all this scary stuff and go to our special warm and fuzzy place?