Anyone who is forecasting a debt ratio down to the nearest 0.5pc in 2020 is trying to fool either us or themselves. We are by now so familiar with Greece's woes that bail-out fatigue has set in. But it is worth looking closely at the key economic numbers and pinching yourself. Since the beginning of 2008, Greek real GDP has fallen by more than 17pc. On my forecasts, by the end of next year, the total fall will be more like 25pc. Unsurprisingly, employment has also fallen sharply, by about 500,000, in a total workforce of about 5 million. The unemployment rate is now more than 20pc. To put this into perspective, the ... (full story)