Permanent depression looms

[Maik]

Greece needs €100bn debt relief as permanent depression looms
National Institute of Economic and Social Research says Greek debt write-off must be much larger than IMF demands, as think-tank warns VAT hikes and budget targets are asphyxiating economy

 Greece needs a debt write-down of almost €100bn (£70bn) if the country is to stand a chance of clawing its way out of a “prolonged and severe depression”, according to a leading think-tank.

In a stark analysis, the National Institute of Economic and Social Research (NIESR) laid bare the impact of VAT hikes and strict budget targets that it said could become “self-defeating”.

http://www.telegraph.co.uk/finance/economics/11782965/Greece-needs-100bn-debt-relief-as-perpetual-depression-looms.html

[Aristarches]

The only people that disagree are the Krauts.

[HiFi]

Crumbs no! They 100% agree! That's why they won't do it!!!!!

[Jolly Roger]

Seems strange to be saying this now. You would have thought that this was obvious, after Greece was plunged into recession several years ago.

[TonyKath]

Shocking.   

Tony

[Maik]

Over 280,000 people apply for EU-backed food aid in Greece

http://www.ekathimerini.com/200312/article/ekathimerini/news/over-280000-people-apply-for-eu-backed-food-aid-in-greece