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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 371.65-1.1%Nov 17 4:00 PM EST
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To: elmatador who wrote (90657)5/27/2012 5:49:36 PM
From: elmatador  Read Replies (1) of 217838
 
Stable government required to proceed.
Stable government will not be voted into office since population will not elect someone who promises to do what it takes to make the finances of the country viable.

“If a government is formed after the June election, it’s going to find that the fiscal programme agreed in March has already been derailed.”

Tax shortfall:
Greece is headed for further political instability and a possible exit from the euro has prompted many Greeks to postpone making tax payments, and has also accelerated outflows of deposits from local banks

Meanwhile sensing this outcome, people hold to Euros expecting to exchange them to Drachmas.

They expect that having Euros in hand and later on exchanging them to a currency that allows them to pay less Euros for a debt denominated in Drachmas.

Economy grinds to a halt. Government bankrupt. (They) divert up to €3bn from the Hellenic Financial Stability Fund – set up by official lenders to help recapitalise struggling Greek banks – to provide temporary support for the budget, a ministry official said at the weekend.

Thus Greece has to face its destiny. Destiny was only postponed by band aid mesures for the last couple years.
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