Greece Is Now a Lose-Lose Game

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Here is this short article from The Telegraph: The investment veteran George Soros has said that Greece’s attempts to escape its financial woes are now a “lose-lose game”, and has estimated the chances of the country leaving the eurozone at about even.
Speaking as the leaders of Greece and Germany met for high-stakes negotiations over Greece’s ongoing support within the currency union, Mr Soros warned that “we are at the cusp and I can see both possibilities”.
“It’s now a lose-lose game and the best that can happen is actually muddling through,” Mr Soros said in a Bloomberg Television interview that will be shown on Tuesday. “Greece is a long-festering problem that was mishandled from the beginning by all parties.”
Mr Soros, known for his bet against the pound during the UK’s exit from the European exchange rate mechanism in 1992, said Greece was running out of time to put its finances on a sustainable footing within the eurozone.
“You can keep on pushing it back indefinitely” by making interest payments without writing down debt, Soros said. “But in the meantime there will be no primary surplus because Greece is going down the drain.”
The Greek government has estimated that it could run out of money by the end of April if a vital €7.2bn in bail-out funds is not released.
The head of the European Central Bank, meanwhile, has hit back at accusations it is blackmailing Greece's new anti-austerity leadership. “We haven’t created any rule for Greece, rules were in place and they’ve been applied,” Mario Draghi told an audience of the European Parliament on Monday. 


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THE GREEK HERACLES WAS A BLACK MAN AND THE AFRICAN INFLUENCE ON GREEK AESTHETICS

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By Samuel David Ewing It has occurred to me lately as I pondered about the next article for this section that the lineage, pedigree, or family tree of the Greek Heracles must be clarified once and for all. Diodorus Siculus and Herodotus recorded that it was the Egyptian Heracles who was the hero who performed the legendary 12 Labors, subdued the animals of the wild that had threatened the people, ushered in the building of cities, water systems, fortifications, and laws. Walter Burkert has estimated that this original Heracles was renowned as far back as 20,000 years ago. The Greek Heracles ended up receiving honors for the accomplishments of his predecessor, having the title of "Heracles", furthermore by the Bronze Age of Greece in which the Greek Heracles was said to have lived the taming of the wilderness had already been accomplished. The Greek Heracles was not likely to be wearing lion skin armor, wielding a club, with spear as weapons, and the danger of lions ru
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Griechenland: 2,5 MRD Euro Stromschulden – Versorger schaltet bald erste 50.000 Kunden ab!

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In Griechenland wird der staatliche Stromversorger in Kürze damit beginnen in einem ersten Schritt 50.000 Stromkunden den Saft abzudrehen. Die Außenstände belaufen sich insg. auf 2,5 Milliarden Euro. Betroffen werden vor allem Firmenkunden sein. Eine Katastrophe für die (vorhandene?) Konjunkturerholung. Es gibt einen handfesten Grund, warum die Höhe der Stromrechnungen in den letzten Jahren explodierte… Griechenlands staatlicher Stromversorger PPC hat Außenstände bei Stromkunden von insg. 2,5 Milliarden Euro, 1,8 Milliarden davon bei gewerblichen Kunden. Schulden haben insg. 2,1 Mio Stromkunden in Griechenland. Wenn man das umlegt auf die Gesamtsumme, wären das rein rechnerisch 1.190 Euro Schulden pro Stromkunde, aber bei 1,8 von 2,5 Milliarden Schulden durch gewerbliche Kunden dürften die Privatkunden natürlich deutlich kleinere Summen offen haben. In einem ersten Schritt will PPC demnächst 50.000 Stromkunden den Saft abdrehen nach vorheriger Mahnung, so berichtete es vor Kur
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Griechenland: Sozialkassen schaffen parallele Staatsverschuldung

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FMW-Redatkion Die Sozialkassen in Griechenland schaffen derzeit eine Art parallele Staatsverschuldung. Da die annehmen, dass ihre Löcher aus den jetzt fließenden 86 Milliarden Euro vom 3. Hilfspaket nicht gestopft werden, haben sie angefangen in Eigenregie Kredite aufzunehmen. Da sie Rentenfonds, Krankenkassen etc staatliche Einrichtungen sind, erhöht sich damit per Saldo die Staatsschuldenlast Griechenlands noch weiter, auch wenn der Staat Griechenland kaum darum bemüht sein dürfte diese Extra-Schulden in seine eigenen Schulden einzurechnen. Aber Schulden sind Schulden. Wie die angesehene griechische Zeitung „Ekathimerini“ berichtet, hat das „Social Insurance Institute“ im August ein kurzfristiges Darlehen (wird wohl eine Dauerumschuldung) über 110 Mio Euro aufgenommen. 70 Mio davon gab man an seinen öffentlichen Versicherungsfonds weiter, 40 Mio davon an seinen kommunalen Versicherungsfonds. Auch schieben das „Social Insurance Institute“ und der „Generational Solidarity
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Beliebte Posts aus diesem Blog

Nikos Dimou: Greece has already lost in the name issue

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- Greece has already lost in the case of the name issue. Ninety – five percent of the countries in the world accept the name Macedonia, and we continue to discuss this, said Nikos Dimou, a member of the Greek political party “Potami” (River) when guesting the show on Sky television. Dimou, a renowned Greek writer with more than 60 published books , said he supports a solution based on a composite name with a geographical qualifier, but added that he agrees that Macedonia can be called whatever they want “Macedonia as well”. - The name issue was mismanaged by the Greek government from the very beginning. It is a question for which we have already lost, Dimou said. As MIA reports from Athens, he added that it is his personal view and not the party’s, as he said, ” it has not established a position on this issue”. Dimou’s statement met with strong reactions by some Greek media. The electronic edition of “Hellene Elisis” commented that “the new party discovered their g
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THE GREEK HERACLES WAS A BLACK MAN AND THE AFRICAN INFLUENCE ON GREEK AESTHETICS

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By Samuel David Ewing It has occurred to me lately as I pondered about the next article for this section that the lineage, pedigree, or family tree of the Greek Heracles must be clarified once and for all. Diodorus Siculus and Herodotus recorded that it was the Egyptian Heracles who was the hero who performed the legendary 12 Labors, subdued the animals of the wild that had threatened the people, ushered in the building of cities, water systems, fortifications, and laws. Walter Burkert has estimated that this original Heracles was renowned as far back as 20,000 years ago. The Greek Heracles ended up receiving honors for the accomplishments of his predecessor, having the title of "Heracles", furthermore by the Bronze Age of Greece in which the Greek Heracles was said to have lived the taming of the wilderness had already been accomplished. The Greek Heracles was not likely to be wearing lion skin armor, wielding a club, with spear as weapons, and the danger of lions ru
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Austerity Porn: Greek Terrorists Rape Ministers' Wives in Controversial Revenge Movie

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A picture from the porn movie (Screengrab) Greece’s biggest porn production company has released a controversial movie in which terrorists rape ministers’ wives and then blackmail the politicians threatening to publish video online if they do not stop austerity measures. The movie, entitled The People’s Revolution Upon the Ministers' Wives, has been produced by Sirina (Siren) Productions and can be included in the genre of “politicised or austerity porn”. “2012. The dominant emotion of impoverished Greece is disappointment. With the movement of the indignant being blown off course, people are looking to find ways in order to defuse the anger they feel towards the politicians that betrayed them,” reads a note on the company’s website. In the movie, a group of angry Greeks set up a terrorist cell and attack ministers’ houses. “They find their wives and give them a lesson they will never forget,” reads the publicity. “They also record their deeds and then blackmail t
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