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  • As Taxes Dry Up, Greece Warns of Going Broke

    From nytimes.com

    Read Full Story at nytimes.com

    As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money. Government coffers could be empty as soon as July, shortly after this month’s pivotal elections. In the worst case, Athens might have to temporarily stop paying for salaries and pensions, along with imports of fuel, food and pharmaceuticals. Officials, scrambling for solutions, have considered dipping into funds that are supposed to be for Greece’s troubled banks. Some are even suggesting doling out i.o.u.’s. Greek leaders said that despite their latest bailout of 130 ... (full story)

    • mima

        2,477 posts
    • piiGS/GipSi out out out...

    • Tradethepips

      98 posts
    • “One repercussion of the crisis is that people are harder to find,” Mr. Maitos, an imposing, burly man, said last week in his sweltering office on the edge of Athens. “And when you do find them, they don’t have money.” http://www.nytimes.com/2012/06/06/bu...y-up.html?_r=1

      This is one of the funniest things (and it's true) I have ever read. And Greeks are pretending to others come up to finance their party. Don't think so. This is a bigger problem than we can see. EURO is about to fall apart.

    • courtneywild

        497 posts
    • So just to clarify.... they won't pay people salaries or pensions so the people can by FOOD, keep their electric on and basically live, "Sorry son there's no food this week ( in 21 century EU member state!) because you see son, our money has to go to the Banks, yes we will starve but..."
      oh OK, just to clarify so that when it implodes I am clear on why the masses will turn on the bankers and leaders with ferocity.
      God help everyone wrapped up in this madness.
      The fish stinks from the head down.

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