BBC News: Reports that Greece has rejected a German idea for the EU to have direct control of the Budget of Greece, with a EU budget commissioner to control Greek taxes and spending. This could be the final straw for the Greeks folks, older Greeks recall the German occupation of Greece during the WW2, the idea that Germany wants in essence to make Greece an economic Colony of Germany will go down like a lead balloon. There are reports that the Greek Government and its bond holders are close to a deal, lets see the small print folks, this has been running for weeks, reports of success then failure. The Germans have made it clear that at the end of the day they can see a Greek economic meltdown, this might be a Germany way to cut its spending to Greece, have them walk away from the table.
Saturday, January 28, 2012
Greece and its Budget
BBC News: Reports that Greece has rejected a German idea for the EU to have direct control of the Budget of Greece, with a EU budget commissioner to control Greek taxes and spending. This could be the final straw for the Greeks folks, older Greeks recall the German occupation of Greece during the WW2, the idea that Germany wants in essence to make Greece an economic Colony of Germany will go down like a lead balloon. There are reports that the Greek Government and its bond holders are close to a deal, lets see the small print folks, this has been running for weeks, reports of success then failure. The Germans have made it clear that at the end of the day they can see a Greek economic meltdown, this might be a Germany way to cut its spending to Greece, have them walk away from the table.
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