Aboutme.SubinFinance - Greece Must Survive Itself Nor Depend On Others
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Greece Must Survive Itself Nor Depend On Others:
The austerity measures provided by the European Union
will pump up Greece but they will remain under the state of recession if
sustainable relief funds are not available to them.
The research done by National Institute of Economic &
Social Research explained that due to heavy increase in Value Added Tax to
please the bailout providers will create more than 1% cut in Gross Domestic
Product in 2016.
In the quarterly analysis put forward by National
Institute of Eco & Social Research states that economy of Greece will be
stopping the contracting stage in the mid of 2016. In the meanwhile, if you
take the crisis period from 2010, Greece economy has contracted more than 30%
from then. If you calculate from where Greece economy joined European Currency
in 2001, the economy has contracted more than 7%.
This was published after the second day heavy selling of
shares in Athens Stock Market. On the second day the Banking shares too has
fallen more than 30%. Apart from that the share of Piraeus Bank has been
suspended too. Why Bank Shares are falling fast? The reason is simple as Banks
are having more Non-Performing Assets now, Economy is not performing well,
People are withdrawing deposits and Greece Government put capital flight
control which spoiled the value of Bank Shares.
The status of the Banks in Greece has made the talks move
faster between Greece Government, European Central Bank, European Commission
and International Monetary Fund. Under the European Stability Mechanism they
have proposed a fund of about Euro 86 Billion Bailout. In this Euro 25 Billion
will be used to capitalize the Greek Banks. As per the European Commission,
Greece Government is privatizing the Assets at a faster rate and well
encouraged by all creditors.
International Monetary Fund & Greece:
Now International Monetary Fund stand of Greece Debt is
that it will not be participating in the 3rd bailout if the debt is
cut by minimum 30%. But this target is unrealistic at this point of view and
IMF must keep the target for Greece about 60% Debt reduction. Further within
2020, it can reduce it more than 120% of GDP which is a workable procedure.
Otherwise with these targets in mind, Greece economy will be grazing in
recession for long. Debt write-off must be more than 55% of GDP will be working
for Greece at this point of time.
Further more debt reduction will push the unemployment to
above 20% of workforce. Apart from that due to hit of Greece economy, Europe
will be scaling back at recession not only but in near future. Value Added Tax
increase will reduce the spending of people and Capital Shortage is already there
in the economy now. It’s like a double boomerang hit from 2 sides.
Chinese Winter Olympics Song - Mega Hit
China is counterfeiting all the products of the world and
the main thesis which they work on is creating cheaper products at low cost.
Now a new intellectual copying has been doubted at highest level at Beijing
Winter Olympics song which sounds same like Disney musical “Frozen”.
Beijing will be hosting the 2022 Olympics despite lacking
snow or ice.
Lot of complain of Plagiarism, Copying and Stealing is on
China, Still officials are mum on this song of “Frozen”.
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