Saturday, January 28, 2017

NEW CRISIS: IMF Warns Greece Faces Explosive Surge in Public Debt

Here we go again on Greece, but the crisis is super serious this time.

Greece faces what is likely to be an “explosive” surge in its public debt levels that within decades will mean it will owe almost three times the country’s annual economic output unless given significant debt relief, the International Monetary Fund has warned in a confidential report, according to the Financial Times.

The report warns that the debt load is “highly unsustainable” and would not improve even if it implemented further reforms recommended by the fund.

“Even with these ambitious polices in place, Greece cannot grow out of its debt problem,” the analysis reads. “Greece requires substantial debt relief from its European partners to restore debt sustainability.”

The fund calculated that Greece’s debt load would reach 170 per cent of gross domestic product by 2020 and 164 per cent by 2022, “but become explosive thereafter” and grow to 275 per cent of GDP by 2060.

It's time for Greece to default on its debt and use an expression of Victoria Nuland's when it comes to the EU, "Fuck the EU".



  1. Bingo, default and go back to drachma & devalue it. EU is going to fall apart anyhow.

  2. Greece is going down big time, it already has but they cannot see it, because the politicians are too busy wanting to claim land from its neighbouring countries, ie (Albania-Macedonia etc) its fascist politics against the naighbours by claimin that half of its populations are greek and by that meaning keeps borrowing money from the eu and pays them a pention of a €1000 a month just to keep them happy so they can say we are greeks and by that they can say that (you see that land belongs to us) thats how Greece has spend most of the money that has borrowed from the EU and beefing up its military contigent and turning the military personel into racists by thinking that greeks are a superior race and they are above all,
    Greece needs to go down so it can realise that after all they are humans hust like everyone else specialy its naighbours, because up till now greece has had it real good with the EU always bailing them out and lending them money since the greek revolution (which as far as l know it hasnt been paid off since)