George Provopoulos, President of the Bank of Greece, urges strict adherence to reform and fiscal adjustment commitments Graecokleptocrats have agreed with Eurokleptocrats. Michael Spencer, CEO of ICAP, says: Personally, I think it would be in Greece's own interest to leave the euro. It's my personal opinion, and I appreciate there are those who disagree with that, but I think they face a long, long recession if they remain within the euro, whereas if they leave the euro there would admittedly be a very painful adjustment, but it would be short and it would be sharp.
Provopoulos warns that if following the election doubts emerge about the new government and society's will to implement the program, the current favorable prospects will reverse. Greece's current account gap would shrink to 7.5 percent of gross domestic product (GDP) this year from 9.8 percent in 2011. The expected drop in unit labor costs in 2012-13, coupled with the projected price trends will lead to a marked improvement in competitiveness, contributing to a rise in exports and import substitution.
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Greek debt differs from that of other nations, because it's not due to spending, but robbing! Graecokleptocrats got huge kickbacks from overpriced purchases of public equipment and contracts and by churning the state insurance funds. If this is not robbing, what is it? When politicians of other nations were trying to do things for their citizens, Graecokleptocrats were trying to fatten their secret offshore accounts, protected by parliamentary immunity. Graecokleptocrats rob Peter not to give Paul, but to themselves!
That's why the Greek workers are on strike. They resent paying the huge Greek debt created by Graecokleptocrats. It's not fair to tax and reduce the salaries and benefits of workers to make up for the money stolen by Graecokleptocrats. The fairest action would be for Graecokleptocrats to return the stolen money back to the Greek treasury. Many Graecokleptocrats live like princes of Saudi Arabia! Enough is enough, bring the money back! http://venitism.blogspot.com
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Greece is set to pick a new government on May 6, with the two main parties in the current coalition seen barely securing a majority in parliament. Eurokleptocrats are losing touch with reality. Greece is broke, and yet Brussels sends Graecokleptocrats billions in new loans. This is understandable, given that abandoning portions of their claims against Greece would translate into substantial losses. But cutting losses short is the golden rule of markets.
Consumer inflation is seen slowing to 1.2 percent this year and may fall below 0.5 percent in 2013. Weak domestic demand combined with downward wage pressures have shrunk the country's inflation differential with other euro zone states.
Provopoulos estimates that by the end of this year the economy will have regained up to three quarters of competitiveness lost during 2001-09. Greece joined the euro in 2001 and enjoyed a consumption boom on lower borrowing costs.
Graecokleptocrats' program is already hopelessly behind schedule, in terms of both the sale of government property and the agreed reforms. Graecokleptocrats do many stupid things, such as persecuting dissident bloggers! It's like dealing with children that constantly have to be told to clean up their rooms. Troika is very angry. Everyone is irritated over the lack of progress and unbelievable stupidity of Graecokleptocrats.
Provopoulos points out the fiscal shortfall had come down markedly but remains high. Last year Greece shrank its budget gap by 1.2 percentage points to 9.1 percent of GDP and aims for a 6.7 percent deficit this year.
Christine Lagarde of IMF has made it absolutely clear she does not trust Graecokleptocrats, because they never apply what they vote in the Grand Brothel of Democracy on Syntagma Square! All Europeans condemn Graecokleptocrats for creating hundred state agencies and hiring many thousands of public employees, even though they promised Troika to close down all agencies and fire many public employees. Some executives at state enterprises have annual salaries of 300,000 euros! Greeks wonder why the bank accounts of rich ministers have not been opened and why major tax evaders have not been arrested.
Provopoulos laments private sector bank deposits have declined by more than one third of the country's GDP. The drastic austerity programs will not only remain ineffective, but will also stigmatize Greece as Europe's problem child for a long time to come. Solidarity is not a one-way street. The European Community must remain tough and demand the necessary structural reforms, especially drastically reducing the huge political corruption, abolishing the impunity of Graecokleptocrats, and stopping the persecution of dissident bloggers.
Dumping euros on Greece is ridiculous. It's unfair to squander hard-earned German euros, and it's unfair for Greeks to be addicted to German handouts. Nobody wins in dumping, which increases sinecures, laziness, profligacy, diseconomy, political corruption, and bad attitude.
It is high time to bring an end to the Greek tragicomedy. Graecokleptocrats continue to negotiate as if things are business as usual, they let one final ultimatum after the other pass, and they persistently fail to realize that their discussions have started to verge on the absurd. It would be a lot better to end this farce. The Greek economy is shrinking faster than assumed. Rescuers on both sides of the negotiating table should try being honest for a change. If Graecokleptocrats are to lastingly reduce the mountain of debt, Greece needs to revamp now.
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Partyfare is a new political disease. Partyfare allows political parties to rob the State Treasury and banks by a simple vote in the parliament! The cost of Greek politics is the highest in Fourth Reich. Recently, a thirty-million-euro injection was granted again by the Grand Brothel of Democracy on Syntagma Square to its hookers! Political parties in Greece are the highest funded in Europe as a proportion of tax revenue, ten times more than in Germany. The Greek political parties receive fifteen euros per vote in State funding, the highest in Europe.
The cost of politics in Greece is a scandal. It's very freakish for hookers to vote for themselves myriad euros all time! Political parties are supposed to serve their citizens and not pump money out of them. Pasok and Nea Democratia are responsible for all structural problems of Greece, leeches that have been sucking out billions of taxpayers' money. This is armed robbery, pure and simple.
Whereas many EU countries are currently reviewing the funding system of political parties to respond to the crisis, Graecokleptocrats are not setting a good example. In the context of the reforms Greece has to undertake to receive a new aid package, this kind of payment is a slap in the face of the Greek citizens and the European partners. It is not acceptable for the European tax payer to effectively pay for the enrichment of Graecokleptocrats. Eurozone should not continue with another Greek bailout package since Graecokleptocrats continue robbing the Greek Treasury. Partyfare undervalues the intelligence of European taxpayers.
