Tag Archives: Greek

John Ward – Greece Breaking : One Third Of Greek Deficit Lost To Tax Evaders, Greek Elites Earn Twice As Much As They Claim – 16 August 2012

New research nails structural evasion as being endemic among the powerful

Tax cheats have robbed Greece of some 11.2 billion euros, say Greek and American researchers who used bank records to analyse the likely tax evasion level.

The method is precisely the one used by private   banks to determine the real income of loan seekers. Surprise, surprise, this is more accurate than looking at tax records, often themselves falsified in the first place. The study concluded that the true income of the average Greek is about 1.92 times larger than the tax declaration.

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John Ward – Greek Deficit : How Berlin Encouraged Papandreou To Big-Up The 2009 Greek Deficit – 26 June 2012

Defence of German banks a key factor

Schäuble and Merkel….implicated in an incredible scam

How Venizelos fired ELSTAT moles to cover up the truth

Spanish European Commissioner backs story of international fraud Continue reading

John Ward – Greece : Jubilation Is Premature… Nobody Has Factored In The Reality Of The Morning After – Pasok Still Wants Syriza in Coalition, Or No Deal – 18 June 2012

“Yo! we goin’ ter Hell in a bucket guys!”

Yesterday I posted to advise folks to ignore the Greek election, and focus instead on the imminence of Greek default. I have more for you on this story already. Continue reading

Mish/ Mike Shedlock – Throwing Bones To Greece; A Victory For Europe ( Or A Victory For French And German Banks)? – 18 June 2012

Throwing Bones to Greece

In the wake of New Democracy eking out a victory over Syriza in the Greek elections, the nannycrats are willing to toss a few bones to Greece.

For example this headline on Bloomberg says Euro Chiefs Signal Greek Austerity Softening as Summit Looms. Continue reading

John Ward – Greek Election : The Fate Of The Euro Is NOT In Greece’s Hands – 17 June 2012

The eurozone is doomed whatever happens in Athens

‘Greeks went to the polls on Sunday in an election that could decide whether their heavily indebted country remains in the euro zone or heads for the exit,’ opined Reuters this morning. I do wish the MSM (especially in the States) would stop writing half-baked bollocks about the Greek elections. If Greece leaves the euro next week following today’s election, it will be because other forces want it out, not because the Greeks themselves want to leave. Continue reading

Mish/ Mike Shedlock – Greek Rail Against “Crude” German Editorial; Merkel Ally Tells Greece “Vote Right Or Euro’s Gone”; Initial Estimate 2:3 ET Sunday – 16 June 2012

In the past week, as I expected, the ECB, Troika, German officials and others have all warned Greeks to not vote for Alexis Tsipras and his radical-left party Syriza. Will those tactics backfire?

I suggest they already have. The pertinent question is whether they have backfired enough to matter. Continue reading

Lucas – Bank Runs And Money Flowing Out – 15 June 2012

Here are a couple of videos on the bank runs, the  money flowing out of countries and even banks closing accounts for periods, do not forget the ATM redrawal amount restrictions put in place in Spain for instance all this is subject to the austerity and debt-crisis madness.

Aljazeera : Greeks pull money from banks ahead of polls

Uploaded on 14 June 2012 by Continue reading

John Ward – Euroblown : Merkel The Merciful Offers Athens A Clear Choice… – 9 June 2012

The Angela of Death

…stay in the eurozone and die, or leave the eurozone and be poor.

I wonder if ‘choice’ is perhaps the most twisted reinvention of a word in the history of language. Jeremy *unt is a great choice driveller: choice of 56 Murdoch Channels all showing braindead soft-porn sh*te. Lansley is another one: choice in the health services available to all. Bollocks: the choice is between having money and getting some service, or the opposite of that. Continue reading

Mish/ Mike Shedlock – Gaming The Odds Of A Greek Euro Exit With And Without Contagion – 6 June 2012

A key question on trader’s minds is who will win the June 17th Greece election and whether it results in a Greek exit of the eurozone.

Deutsche Bank gives it assessment in a report called Probability weighting EUR views on Greece Continue reading

Mish/ Mike Shedlock – “Terror-Mongering” In Greece About To Backfire? Will Greeks Vote For “Complete Idiots”? Four Possibilities – 5 June 2012

The Financial Times reports Greek right a hostage to its own failures.

On June 17, Stathis Potamitis, managing partner at an Athens law firm, plans to break a promise he has kept since his participation in a 1970s clandestine student group that opposed Greece’s military dictatorship. He will vote for the right. Continue reading