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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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From: louel	7/7/2015 12:18:57 PM
	2 Recommendations Recommended By elmatador Metacomet Read Replies (1) of 218517

The reality of the Greece financial situation. Is that it has been going on for years. News reporters somehow continually find new ways to spin it to create hypertension in their readers. In the bigger picture, Greece makes up less than 1% of global GDP, if they totally collapse it is not likely to cause a ripple in global production larger than a fish hook in Lake Superior. Global stocks can absorb whatever happens. In the 1980s Greece launched a large scale welfare upgrading, including an expansion of social insurance coverage and an increased access to health care. Without really considering how they would pay for it. Like, put it on the credit card till we figure it out. Government revenue is approximately 37 per cent of GDP, the over-committed social welfare benefits have pushed up public current expenditure to nearly 90 per cent of its total revenue, leaving only a less than adequate portion for interest & debt payments. Unlike other successful welfare states such as Norway and Sweden, the Greek government's tax collection system is inefficient. Tax evasion is almost rampant. Joining the Euro zone allowed Greece to borrow to finance deficits at low interest rates. Did nothing to curb the lack of fiscal discipline. Other studies have shown. Even though Greek workers work as many hours. They are inefficient. By comparison, taking the gross domestic product (GDP) - that's the country's entire production - and dividing it by the number of workers. The average German worker is far more productive than the average Greek. Germany ranks as the eighth most productive country by worker out of the OECD countries - or the seventh out of the European countries - while Greece comes in at 24th. Suggesting Greece is not only Financially undisciplined. But also severely lacks and lags in competitiveness of it's work force behind many other countries. The Chickens have now came home to roost. And something has to change. Like it or not !!!

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