The IMF is not done destroying Greece yet

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Kilkis
Posts: 8776
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: The IMF is not done destroying Greece yet

Postby Kilkis » Thu Aug 17, 2017 12:44 pm

I agree with the thrust of the article as far as the IMF and the Troika are concerned but things aren't always what they seem. According to this ekathimerini article the government has achieved a budget surplus of €3.05 billion in the first 7 months of this year. How did they achieve this feat? Well according to this ekathimerini article they built up arrears in payments of €5.134 billion in the first 5 months of the year. God knows what it is now. In other words, if the government paid Greek citizens and businesses the money they owe to them they would have a primary budget deficit of over €2 billion. It's like someone saying that they lived within their means and spent €3,000 less than they earned this year, because they have €3,000 in their bank account, but completely ignoring the €5,000 extra they had added to their credit card debt.

Warwick


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