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Greece is 'close to the abyss' as black hole in public finances widens
UK Telegraph ^ | April 15, 2015 | Mehreen Khan

Posted on 04/15/2015 7:48:25 AM PDT by C19fan

The depth of Greece's financial woes have been laid bare as official figures showed the country has fallen further into the red following the election of its Leftist government. Greece's primary budget surplus, which excludes its debt interest payments, shrunk to just over €1bn during January and February, compared to €3.17bn over the same period in 2014, according to figures from the Ministry of Finance.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Germany; Israel; Russia; United Kingdom
KEYWORDS: alexistsipras; cyprus; euro; europeanunion; germany; greece; greececrisis; israel; methane; nato; opec; reparations; russia; syriza; turkey; unitedkingdom
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They are literally running out of other people's money.
1 posted on 04/15/2015 7:48:25 AM PDT by C19fan
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To: C19fan

They aren’t worried. They are counting on Germany to pay them a couple hundred billion in reparations any day now.


2 posted on 04/15/2015 7:50:25 AM PDT by circlecity
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To: circlecity

...an alliance of progressives and communists.....recipe for disaster.


3 posted on 04/15/2015 7:53:09 AM PDT by spokeshave (He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people,)
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To: C19fan

I swear, Greece has been in this position -- and holding -- for more than 5 years.

4 posted on 04/15/2015 7:55:44 AM PDT by ClearCase_guy ("Victim" -- some people eagerly take on the label because of the many advantages that come with it.)
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To: C19fan

Next step will be to sell islands to Russia and/or China to be used as military bases.

Soon to be followed by Greece becoming a communist satellite. A very poor one.


5 posted on 04/15/2015 8:06:18 AM PDT by kidd
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To: C19fan

look at the source and remember Greece is a pawn in an economic war.

England has ALWAYS wanted the eu to fail. They stayed out of the currency in order to be the dominant currency when things fell apart.

Germany has used the Deuche mark to become the backbone of the “euro currency”. IOW they achieved with paper what failed with bullets.

UK media has and does always report the EU is falling.


6 posted on 04/15/2015 8:07:52 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: C19fan
Hmmmm....so Greece can play the EU for a few more months, fall further in the red, and at some point the German banks have to cut them off. Then, Greece declares bankruptcy and is debt free. Tourists come flocking in, no more forever debt to German banks (which only the elite profited from), and maybe a cruise line wants a 99 year lease for its own private island or two. They can stop the invasion from Africa and the Mideast that the EU encourages. They can strengthen their cultural and religious ties to the Orthodox faith.

Where's the downside?

7 posted on 04/15/2015 8:12:09 AM PDT by grania
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To: circlecity

Are these new reparations being paid in order to make amends for the failure of the last round of reparations to fix Greece’s financial crisis?


8 posted on 04/15/2015 8:15:47 AM PDT by WayneS (Barack Obama makes Neville Chamberlin look like George Patton.)
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To: grania

This is a british newspaper pumping up the british pound.


9 posted on 04/15/2015 8:16:14 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: C19fan

Wait a minute!

Do black holes even HAVE abysses?


10 posted on 04/15/2015 8:17:07 AM PDT by WayneS (Barack Obama makes Neville Chamberlin look like George Patton.)
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To: C19fan

They can’t be broke; they still have cheques.


11 posted on 04/15/2015 8:20:35 AM PDT by lurk
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To: longtermmemmory
This is a British paper pumping up the British pound

Which will also pump up Greece's currency when they escape the EU. Nice stops for those Cunard cruise ships, good place to park some British military hardware in the Med.

12 posted on 04/15/2015 8:21:37 AM PDT by grania
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To: C19fan

Still out there riding in the wind, does Greece EVER have to come down and resume practical governance again? Conservative money management and fiscal responsibility seem to not be their strong point, but man, are they ever compassionate.

They are the closest thing there ever was to “making socialism work”.


13 posted on 04/15/2015 8:23:24 AM PDT by alloysteel (It isn't science, it's law. Rational thought does not apply.)
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To: WayneS

Event horizons are the black hole equivalent.


14 posted on 04/15/2015 8:26:35 AM PDT by linear (Fealty to no man or party.)
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To: C19fan

“But since Syriza were elected in late January, tax revenues have collapsed and capital has fled the country’s banks”

Now, who could have possibly foretold that electing a socialistic government would cause capital to flee?


15 posted on 04/15/2015 8:28:15 AM PDT by DugwayDuke
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To: kidd

Germany is already trying to do this by having Greece sign over the mineral rights to German companies. (oil gas gold etc)


16 posted on 04/15/2015 8:31:22 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: C19fan

Like every three or four months we get these headlines about being close to dissolution or economic death. Hasn’t happened yet. The Germans always figure out how to kep Greece tied to the system.


17 posted on 04/15/2015 8:40:52 AM PDT by arthurus (it's true!)
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To: alloysteel

it never did. You always had 6 or so families that were the dynasty class. (aka aristocrats) who were able to manipulate fortunes by controlling the government and currency.

They want the eu to fail so they can control again.


18 posted on 04/15/2015 8:43:03 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: arthurus
Like every three or four months we get these headlines about being close to dissolution or economic death.

Supposedly, it sells papers. Or, in this century, clickthroughs.

19 posted on 04/15/2015 8:45:28 AM PDT by thulldud (Is it "alter or abolish" time yet?)
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To: C19fan

” Eurozone creditors have insisted the government carries out further cuts to its wages and pensions, and raise cash through selling off its public assets.”

The creditors are want to squeeze blood out of a turnip - foggetaboutit!


20 posted on 04/15/2015 9:10:14 AM PDT by aquila48
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