Wednesday, January 27, 2010

"Greece won't need to be bailed out by the EU" LOUKAS TSOUKALIS PRESIDENT OF ELIAMEP


''Greece is experiencing one of the most difficult economic crisis in its history. Why is Greece so badly affected by the global economic crisis? Greece has a dual deficit: a budgetary deficit and a current account deficit. They are both large and unsustainable. They also precede the global economic crisis. For some time, consumption levels have exceeded the productive capacity of the economy. They have been largely financed through public borrowing. In other countries, the bubble had been created mostly through private credit..''
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