mattyfc Posted June 9, 2011 Report Share Posted June 9, 2011 http://www.reuters.com/article/2011/06/09/greece-idUSLDE7580I620110609 Gross domestic product tumbled 5.5 percent in the first three months of this year, the official numbers showed, far more than a earlier of flash estimate of 4.8 percent. Emilie Gay, an economist at Capital Economics, said that bode ill for Greek attempts to meet targets for cutting the budget deficit which the international lenders have prescribed. "We expect the economy to contract by 5 percent this year. For us this means Greece will fail to meet its targets as it did last year," she said. Fairly massive revision can’t do credibility much good. Where can Greece go from here? Quote Link to post Share on other sites
Game_Over Posted June 9, 2011 Report Share Posted June 9, 2011 http://www.reuters.com/article/2011/06/09/greece-idUSLDE7580I620110609 Fairly massive revision can’t do credibility much good. Where can Greece go from here? Greece can be at the forefront of a new, populist movement for freedom and democracy in Europe by ditching the Euro and telling the EU to f*ck off. Quote Link to post Share on other sites
DungBeetle Posted June 9, 2011 Report Share Posted June 9, 2011 By trying to drag its tax collection system out of the 1800's? Quote Link to post Share on other sites
swissy_fit Posted June 9, 2011 Report Share Posted June 9, 2011 Greece can be at the forefront of a new, populist movement for freedom and democracy in Europe by ditching the Euro and telling the EU to f*ck off. If they don't crack on quickly and throw their government out (again) the bankers will have taken everything and they'll end up having to retake assets by force. Quote Link to post Share on other sites
Lambie Posted June 9, 2011 Report Share Posted June 9, 2011 If they don't crack on quickly and throw their government out (again) the bankers will have taken everything and they'll end up having to retake assets by force. how? at this rate they won't even have any scrap metal left to make pitchforks. Quote Link to post Share on other sites
RufflesTheGuineaPig Posted June 9, 2011 Report Share Posted June 9, 2011 Wont the GDP drop mean they wont qualify for the next IMF payout they need to last past the end of the month? Quote Link to post Share on other sites
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.