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Realistbear

Greece Are Failing To Meet Debt Targets

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http://uk.finance.yahoo.com/news/greece-to-cut-spending-further-in-2011-government-official-reuters_molt-a497e1b83ec2.html?x=0

Greece to cut spending further in 2011 - government official
On Saturday 13 November 2010, 10:30 EST
ATHENS (
Reuters
) - Greece will target extra spending cuts worth about two percent of GDP in its 2011 budget, a senior government official said on Saturday after a special cabinet meeting gathered ahead of a visit by EU/IMF inspectors.
The debt-choked country is set to miss a target to slash its budget deficit to 7.8 percent of gross domestic product (GDP) this year, another government official told Reuters this week, and is looking for ways to meet next year's targets ahead of its November 18 presentation of the final budget draft.
Asked what kind of measures the government would take, the senior official told reporters:
"It mainly has to do with cutting waste and reorganising the public sector."
:rolleyes:
Asked how much these extra measures would amount to, the official said: "about 2 percent of GDP."

And upon what basis should we believe they will succeed in this heroic odysee of debt reduction?

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So are they actually going to cut debt and spending, or are they going to take the Uk route of actually increasing debt and increasing spending?

:lol:

Edited by Errol

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The problem with these cuts they keep saying they will make, is none of them have actually appeared.

Eventually they will literally RUN OUT OF MONEY.

Edited by RufflesTheGuineaPig

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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