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Saturday 28 July 2012

The Economist Gives Greece Only Two Weeks Before Collaps

British financial journal, The Economist, published an article under the title “Is “Grexit” at hand? Greece has only a couple of weeks left to convince its creditors” expressing doubts whether the Greek government can succeed in convincing Troika that the financial adjustment programme is no longer ‘off-track.’
“Greece has only a couple of weeks left to convince its creditors that it can put economic reforms back on track. Should its latest plans for making €14.5 billion ($17.6 billion) of spending cuts over the coming two years be judged unrealistic, the next €31.2 billion loan tranche will again be held back,” outlines the famous magazine.
In that case, “Greece would be unable to finish recapitalizing its big banks. Without credit, the economy will seize up. Pensions and public-sector salaries would not be paid.” The Economist also

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