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Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!

 
Luisport

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Portugal
02/14/2012 07:03 AM

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Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
Greece's GDP Is In Total Freefall

More awful economic statistics out of Greece.

In the fourth quarter, GDP shrank 7% from a year earlier.

That compares to a decline of 5% in Q3, according to Reuters.

The idea that the economy can survive more austerity -- especially given the attendant social collapse -- is laughable.



Read more: [link to www.businessinsider.com]

Last Edited by Luisport on 02/14/2012 12:04 PM
Luisport (OP)

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02/14/2012 07:04 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
A Must-Read On The Societal Disaster That's Happening In Greece



This paragraph is a punch in the gut:

By many indicators, Greece is devolving into something unprecedented in modern Western experience. A quarter of all Greek companies have gone out of business since 2009, and half of all small businesses in the country say they are unable to meet payroll. The suicide rate increased by 40 percent in the first half of 2011. A barter economy has sprung up, as people try to work around a broken financial system. Nearly half the population under 25 is unemployed. Last September, organizers of a government-sponsored seminar on emigrating to Australia, an event that drew 42 people a year earlier, were overwhelmed when 12,000 people signed up. Greek bankers told me that people had taken about one-third of their money out of their accounts; many, it seems, were keeping what savings they had under their beds or buried in their backyards. One banker, part of whose job these days is persuading people to keep their money in the bank, said to me, “Who would trust a Greek bank?”



Read more: [link to www.businessinsider.com]
Luisport (OP)

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02/14/2012 07:05 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
zerohedge
EU spokesman Hughes speaks to reporters in Brussels, Says EU still expects Greece to take ‘certain measures’
há 11 minutos [link to twitter.com]
Anonymous Coward
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United States
02/14/2012 07:06 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
Seems that EU membership is toxic...
Luisport (OP)

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Portugal
02/14/2012 07:07 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
zerohedge
Greece to Cut Ministry Spending for EU325 Million Gap, ANA Says - brilliant: Greek politicians to fire themselves
há 2 minutos [link to twitter.com]
Luisport (OP)

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Portugal
02/14/2012 07:08 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
Seems that EU membership is toxic...
 Quoting: Anonymous Coward 9614373


Yes it is... since that Merkozy are the boss!
Luisport (OP)

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02/14/2012 07:09 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
dianalizia Diane Shugart
cabinet meeting at 3pm, papademos may or may not announce mini "reshuffle" to replace resigned ministers #greece
há 11 minutos [link to twitter.com]
Luisport (OP)

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Portugal
02/14/2012 07:10 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
zerohedge
Central Bankers Doubt Greek PSI Deal, Handelsblatt Reports
há 2 minutos [link to twitter.com]
Luisport (OP)

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Portugal
02/14/2012 07:10 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
abombahhh
Luisport (OP)

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Portugal
02/14/2012 07:14 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
zerohedge
Athens Street Fixtures Damage Exceeded 1 Million Euros, ANA Says - that's 1mm addition to GDP, just ask Krugman
há 2 minutos [link to twitter.com]
Luisport (OP)

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Portugal
02/14/2012 07:19 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
bump
Anonymous Coward
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02/14/2012 07:19 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
A Must-Read On The Societal Disaster That's Happening In Greece



This paragraph is a punch in the gut:

By many indicators, Greece is devolving into something unprecedented in modern Western experience. A quarter of all Greek companies have gone out of business since 2009, and half of all small businesses in the country say they are unable to meet payroll. The suicide rate increased by 40 percent in the first half of 2011. A barter economy has sprung up, as people try to work around a broken financial system. Nearly half the population under 25 is unemployed. Last September, organizers of a government-sponsored seminar on emigrating to Australia, an event that drew 42 people a year earlier, were overwhelmed when 12,000 people signed up. Greek bankers told me that people had taken about one-third of their money out of their accounts; many, it seems, were keeping what savings they had under their beds or buried in their backyards. One banker, part of whose job these days is persuading people to keep their money in the bank, said to me, “Who would trust a Greek bank?”



Read more: [link to www.businessinsider.com]
 Quoting: Luisport



Fuck off, we're full!! LOLtounge
Luisport (OP)

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Portugal
02/14/2012 07:24 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
bump
Luisport (OP)

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Portugal
02/14/2012 07:29 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
PIN THANK'S!!!hf
Luisport (OP)

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Portugal
02/14/2012 07:30 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
dianalizia Diane Shugart
papademos evidently got papandreou's watch along with the premiership; cabinet meeting pushed back to 4pm #greece
há 15 segundos [link to twitter.com]
Face Palmer
Yo mamma pulls catapults to gondor

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Germany
02/14/2012 07:37 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
By many indicators, Greece is devolving into something unprecedented in modern Western experience. A quarter of all Greek companies have gone out of business since 2009, and half of all small businesses in the country say they are unable to meet payroll. The suicide rate increased by 40 percent in the first half of 2011. A barter economy has sprung up, as people try to work around a broken financial system. Nearly half the population under 25 is unemployed. Last September, organizers of a government-sponsored seminar on emigrating to Australia, an event that drew 42 people a year earlier, were overwhelmed when 12,000 people signed up. Greek bankers told me that people had taken about one-third of their money out of their accounts; many, it seems, were keeping what savings they had under their beds or buried in their backyards.
 Quoting: Luisport


Thats why we "economictards" have been warning ppl.
"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."

Never attribute to malice that which is adequately explained by stupidity.
Luisport (OP)

User ID: 10766824
Portugal
02/14/2012 07:42 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
By many indicators, Greece is devolving into something unprecedented in modern Western experience. A quarter of all Greek companies have gone out of business since 2009, and half of all small businesses in the country say they are unable to meet payroll. The suicide rate increased by 40 percent in the first half of 2011. A barter economy has sprung up, as people try to work around a broken financial system. Nearly half the population under 25 is unemployed. Last September, organizers of a government-sponsored seminar on emigrating to Australia, an event that drew 42 people a year earlier, were overwhelmed when 12,000 people signed up. Greek bankers told me that people had taken about one-third of their money out of their accounts; many, it seems, were keeping what savings they had under their beds or buried in their backyards.
 Quoting: Luisport


Thats why we "economictards" have been warning ppl.
 Quoting: Face Palmer


alone
Anonymous Coward
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United Kingdom
02/14/2012 07:44 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
Luis Portugal are next!
Face Palmer
Yo mamma pulls catapults to gondor

User ID: 10764498
Germany
02/14/2012 07:48 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
Thats why we "economictards" have been warning ppl.
 Quoting: Face Palmer


alone
 Quoting: Luisport


You're from Portugal, OP. Look and learn.

Last Edited by Face Palmer on 02/14/2012 07:53 AM
"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."

Never attribute to malice that which is adequately explained by stupidity.
Luisport (OP)

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Portugal
02/14/2012 07:52 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
Luis Portugal are next!
 Quoting: Anonymous Coward 10766822


If troika demands continue maby it happen here... for you have an idea, troika demands that energy producers reduce their lucre. Now EDP and ENDESA say they will shut down their gas energy plant facilitys so we can have a BIG energy shut down here!
Luisport (OP)

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02/14/2012 07:53 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
zerohedge
German December industrial production drop was worse than Greece's
há 5 minutos » zerohedge
European Recession Deepens As German Industrial Output Slides In December Despite Favorable ZEW [link to DON'T_USE_THIS.com]
há 6 minutos [link to twitter.com]
QUANTA
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Australia
02/14/2012 07:55 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
It's history repeating again. In a Circle or a Spiral. I don't care Mark Twain.

Let's look facts, square in the face.


[link to www.youtube.com]
Anonymous Coward
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Portugal
02/14/2012 07:59 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
Luis Portugal are next!
 Quoting: Anonymous Coward 10766822


If troika demands continue maby it happen here... for you have an idea, troika demands that energy producers reduce their lucre. Now EDP and ENDESA say they will shut down their gas energy plant facilitys so we can have a BIG energy shut down here!
 Quoting: Luisport

That sucks, why we join to EU in first place, because with this news i think we were drunk.
cheers
Anonymous Coward
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United States
02/14/2012 08:04 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
the broke ass countries will serve as cheap ass labor slaves for the industrial countries of europe
Luisport (OP)

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Portugal
02/14/2012 08:06 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
zerohedge
Greek Economic Deterioration Accelerates As Q4 GDP Slides By 7%, Unemployment Over 20% [link to DON'T_USE_THIS.com]
há 20 segundos [link to twitter.com]
Anonymous Coward
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Portugal
02/14/2012 08:10 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
the broke ass countries will serve as cheap ass labor slaves for the industrial countries of europe
 Quoting: Anonymous Coward 8635581

iamwith
jerkit
Anonymous Coward
User ID: 1273752
Netherlands
02/14/2012 08:11 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
So who lied about triple A mortgage investments? Why are they not in jail?
Luisport (OP)

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Portugal
02/14/2012 08:18 AM

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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
zerohedge
Greek 2011 full year GDP decline is 6.8%; budget had forecast 6.0%
há 9 minutos [link to twitter.com]
Anonymous Coward
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United Kingdom
02/14/2012 08:24 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
[link to www.portugaldailyview.com]
Anonymous Coward
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Canada
02/14/2012 08:51 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
If deadbeat Greek bums default, this is what our leaders need to do to get our dough back...

1. Seize all Greek merchant shipping around the world. They have quite an amount of this and it should be worth at least something.

2. Seize all real estate, stock and shareholdings, cars, trucks and assets of all Greek citizens and have banks and real estate dealers sell them off for cash.

3. Have all banks max out all creditcards and chequing accounts of all Greek citizens and send the balance to our treasuries.

4. Since we'd own all their stuff if they go bankrupt, send in the SAS, SEALS etc in to raid some of their islands. Use whatever force necessary to get all those old statues and antiquities out their museums and stick them on Ebay.

5. Seize all asset of Greek tourists around the world, cameras, clothes, airline tickets, luggage etc.. Have these sold off on Ebay for cash.

6. Boot Greek tourists out of all hotels. Why let these Greek bums rack up any more bills they can't pay?

7. Put a lean on all the homeless shelters and charities. If they were going to hand out any soup or blankets, have them send the cash value for these to the treasury instead.

Look, this is what was done in 1923 when Germany did pay up, so we know the drill, let's get on with it if these Greek bums won't pay up.
Anonymous Coward
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02/14/2012 08:53 AM
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Re: Greece's GDP Is In Total Freefall!!! European Finance Ministers Cancel Meeting on Greece!!!
the broke ass countries will serve as cheap ass labor slaves for the industrial countries of europe
 Quoting: Anonymous Coward 8635581

iamwith
jerkit
 Quoting: Anonymous Coward 10770140


Unfortunately, he speaks the truth my friend.

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