Monday, November 26, 2012
To vote on austerity measures equal to 11.5 Billion, while taking on bank debts of 49 Billion Euros is rather silly – although silence is what justifies the collective submission of a nation that was once proud.
“Exploding debt in 2012 at 340.6 Billion Euros, compared to an initial estimation of 316 Billion Euros; these numbers where revealed by the Greek Statistical Authority (ELSTAT) and the General Accounting Office to Eurostat, during the interim Excessive Deficit Procedure.
The same data show that the deficit for the year 2012 is expected to be around 13.4 Billion Euros, a target level that will most likely be achieved through heavy public spending cuts. Specifically, from a central government perspective, the deficit target is set at 11.4 Billion Euros.
GDP is also projected to decline to 194.7 Billion Euros, from approximately 232 Billion Euros (the GDP before the ΄΄invasion΄΄ of the IMF in Greece).
Furthermore, according to data of.....