Greek Economic Crisis: Three Things to Know
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Concerns that Greece’s economic troubles, rooted in decades of mismanagement, may spark a broader downturn have put the Greek debt crisis in the headlines once again. As repayment deadlines loom, the Greek government and its creditors are busy negotiating interim deals to relieve the economic pressure. Robert Kahn, CFR’s Steven A. Tananbaum senior fellow for international economics, offers three things to know about the Greek economic crisis and what it could mean for the global economy. - Incomplete reforms: “Greece’s fiscal challenge—a large and growing gap between its policy objects and what it can pay for—has roots in decades of incomplete reforms,” says Kahn. “Successive Greek governments have not made the fundamental reforms needed to put its finances on a firm footing.” Efforts to close the gap through a combination of spending cuts, debt relief, and structural reform have not been enough. The January 2015 elections that brought the anti-austerity Syriza party to power have strained negotiations between Greece and its creditors, as Syriza’s electoral platform rejected the European Union and IMF-backed bailout program and promised to expand social spending. - Time is running out: Coming to a framework agreement to unlock more bailout funding is critical for Greece’s ability to make “wage, benefits, and suppliers payments in the coming weeks,” explains Kahn. A comprehensive agreement may be months away, but the government will look to interim deals to temporarily relieve economic pressure, he says. - Global implications: Although Europe is better equipped to handle a crisis today than it was in 2012, “what happens in Greece still matters for the global economy,” says Kahn. A worsening situation could further weaken growth and “cause capital to flee the broader eurozone for safer havens,” he says. A weak eurozone would reduce demand for U.S. exports and put upward pressure on the dollar. The future of the eurozone—and Greece’s place in the global economy—depend on the choices that the Syriza government and its European partners make in the ongoing negotiations, he says. http://www.cfr.org/greece/greek-economic-crisis-three-things-know/p36447
Comments
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grexit the zorbas,,,then bankrupcy will reposes the property.
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Hello Rose Vassiliou, thank you that you write back to me I
appreciate. I don't think you and the of the Greek people no Alexis Tsipras, he
belong to a secret society he is the antichrist; belong to new world order the
ILLUMINATI Rothschild. That's why since been elected the Frist 30 days he visit
Borako Obama - Bill Clinton - Pope Fancies. And many other is all of them below
and to the new wallboard the ILLUMINATI the plan to kill believe people and
they get together I will give you some of the names and they have Bernie Sander
- sacrificed for the Devel I will give you some the name of the secret society
Rothschhild ILLUMINATI the Jewish gangster and his associates. IMF belonged to
him the Federal Reserve Bank belonged to him he designed EURO and all EU
Parliament working for him. I will give you more names. All of them belong to a
secret society ILLUMINATI New World Order. Hehri Kissinger - George H W Bush -
Hillary Clinton - Juncker Valkoman - Goldman Sachs - Jon Kerr – Angela Merkel - many others. Alexis
Tsipras is very dangerous. The only solution for Greece to survive is beautiful
and prints the own currency. You can go and see but yourself in this website
everything they you put The ILLUMINATO or
Rothschild - Al Jezeera English
YouTube -and you can find an out everything that I write to you about ILLUMINATI new wallboard Order. I wish you to
have nice day my friend Rose and I hope you find an out and you let many people
to know about. Michel Fountas -
Imagine walking around in the streets of Delhi in India… Everywhere you look, cows are wandering the streets, lying on sidewalks, shitting ,pissing and making cars swerve. Now replace Delhi by Athens and cows by dogs. greeks are like their dirty Stray Dogs they have no idea where they are fucking going and are just hoping for a handout.
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Good on you Greece… declare bankruptcy and escape democratic debt enslavement.You are a shining example of what every country should do for their people.
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There is only one thing you need to know. Through fraud Goldman Sachs caused this collapse. Through fraud Goldman Sachs caused the banking collapse in 2008. Until these crimes are dealt with there is no way we can move on.
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Alpha Bank, Bank of Piraeus and Attica Bank were down 7.9 to 10 percent today. If you have money in one of these Greek banks then you may or may not have the use of that money if the new Fuhrer decides she wants it. This United States of Europe is like watching the History Channel about the 1930s. It fully explains how a few brave men in Germany could have herded the peasants in Europe like sheep. And after these few brave men in Germany had slaughtered the grandparents and/or great grandparents of today's Europeans, they're right back on their knees kissing the new Fuhrer's ass. If for no other reason, I'm proud to be an American. Even after sixty years, we Yanks tell these Kraut eaters what they can and can't do, while you Europeans lick their stinking butts.
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they should take on more debt. That is the best solution. After a certain time even a donkey will learn to work with the money and become profitable.
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Neoconservative bullshit
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Goldman Sachs/CFR drones destroying western economies for their own greedy interests as the non-western world pivots towards AIIB
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