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By GEORGE GEORGIOPOULOS | REUTERS | APRIL 24, 2012 Greek GDP to slump 5 pct in 2012. Current account gap to shrink to 7.5 pct of GDP. Inflation seen at 1.2 pct in 2012. Strict adherence to reforms urged. Greece’s economy will contract a deeper than expected 5 percent this year, the country’s central bank chief said on Tuesday, piling more pressure on to a citizenry already battered by crippling austerity and ...Read full article...
An ‘orderly default’ of Greece means bankers will finally collect what they fraudulently acquired through indebtedness. By Jonathan Sibun UK Telegraph September 12, 2011 Philipp Roesler, Germany’s economy minister, said an “orderly default” for Greece could no longer be ruled out and branded the country’s deficit-reduction measures “insufficient”. The warning is likely to spook financial markets further and comes despite Greece yesterday announcing a fresh €2bn (£1.7bn) of budget ...Read full article...