'Greece is bankrupt. Full stop. Game over'
26 August 2012
Published on Aug 23, 2012 by RussiaTodayIt's 'crunch time' for Greece right now - the German leader and French president are working out whether to grant Athens the 'breathing space' it says it needs to sort its finances out.
The country's been relying on international loans for over two years, but is struggling to meet its bailout conditions.
Meanwhile, Chancellor Merkel's allies in Berlin say 'a Greek exit wouldn't have a 'great impact' on the Eurozone'.
Investment advisor Patrick Young says, whether on not Greece is provided with more time, there's no chance it'll manage to get its economy back on track within the Eurozone.
The country's been relying on international loans for over two years, but is struggling to meet its bailout conditions.
Meanwhile, Chancellor Merkel's allies in Berlin say 'a Greek exit wouldn't have a 'great impact' on the Eurozone'.
Investment advisor Patrick Young says, whether on not Greece is provided with more time, there's no chance it'll manage to get its economy back on track within the Eurozone.
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http://soundofheart.org/galacticfreepress/content/greece-bankrupt-full-stop-game-over
1 comment:
The only chance Greece has to restore growth in their economy is if they return to the drachma. Devalue and fight their way back to competitiveness. The IMF are now advising against austerity in struggling economies as it causes more harm and prolongs recession. Merkel and Hollande are trying to imprison Greece in order to save their Euro dream. The Euro zone was doomed from the start. You can't have a single currency without a single government. They have put the horse before the cart! I have followed this topic on my blog. www.blogbywiggy.blogspot.co.uk
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