Utopia Talk / Politics / Austerity works

Daemon Member	Mon Apr 23 10:16:58 Austerity is the way to reality. http://new...dges-down/article/feed/2067766 Greece beats budget target as it looks to post-bailout era By DEREK GATOPOULOS Published: April 23, 2018 ATHENS, Greece (AP) — Greece has beaten its budget targets for a third year and trimmed its massive debt burden, according to data released Monday. But the economy has not yet grown back to its level of 2014, before its last recession. As the country prepares to exit its international bailout program in August, the independent statistics agency on Monday reported long-awaited data for 2017. The results will affect ongoing negotiations between Athens and creditors on the terms of Greece's exit. The agency reported that the 2017 primary budget surplus — the balance before the cost of debt repayment is included— stood at 4 percent. National debt stood at 178.6 percent of gross domestic product, down from 180.8 percent the previous year. Economic output was 177.7 billion euros ($218 billion), confirming a return to growth, but still almost a billion euros lower that annual output in 2014. Left-wing Prime Minister Alexis Tsipras' government has promised to continue privatizations and tough economic reforms after the country exits its bailout in exchange for more lenient repayment terms from European bailout lenders. A draft of Greece's exit plan is due to be presented Friday at a meeting of eurozone finance ministers in Sofia, Bulgaria. Tsipras on Monday insisted Greece planned a full return to bond markets after the bailout ends in late August. "We are completing the (bailout) program with success, rebuilding the economy, and preparing for the market access with Greek bonds," Tsipras told government lawmakers. The Tsipras government is racing to complete a list of demands from creditors over the next month that includes continued administrative reforms and infrastructure privatizations. A national power workers' union launched a 48-hour strike Monday against plans to privatize coal-fired power plants in a protest that has threatened parts of Greece with rolling blackouts.
Hot Rod Revved Up	Mon Apr 23 20:20:59 Good for them, now if we can learn from Greece maybe we can lower our debt too.
Cthulhu Tentacle Rapist	Tue Apr 24 12:22:29 The last thing anyone should do is learn from Greece, unless you think waiting until your economy is in complete shambles to do anything about it is a good idea.
CrownRoyal Member	Wed Apr 25 09:25:43 greece, a country with >20% uneployment, with >50% youth uneployment, a fuckin decade! after the great recession. This is the lost generation, they will never be able to earn enough money for retirement, state will have to take care of them. Their parliament is full oif nazis and communists, there are plausible scenarios where these incompetent hateful retards can actually be elected. The main point is that everything about this, I mean the longevity of this suffering is man-made, all to trumphanty state that a couple of points was shaved of the deficit target, whatever irrelevant number that is. If this is what 'works' for greece, I am afraid to ask what doesn't work
Wrath of Orion Member	Wed Apr 25 09:30:21 More proof in this thread that Pedo Rod hates his country and actually wants to see it burn. Pathetic.
CrownRoyal Member	Wed Apr 25 09:40:38 Rod is just not literate - "Good for them, now if we can learn from Greece maybe we can lower our debt too" is factually wrong, since Greece debt was not lowered, it rose since the crisis hit
Dukhat Member	Wed Apr 25 10:21:58 The EU currency turned out to be defacto financial control by German Pensioners over all of the 2nd-world EU countries. Sad.
Hot Rod Revved Up	Wed Apr 25 10:37:08 Greece has started moving in the right direction. All I'm saying is we need to start moving in the right direction too and then stay on that road. Cthulhu, our economy is very near to being a shambles. If we do not turn it around we will go through the same thing as Greece only on a much larger scale. If the liberals don't get off their ass and start thinking of the country instead of political power we will become a third rate country. Hell people, Merkle will be here at the end of this week and we don't even have a German Ambassador after a year and a half. Hell, the liberals want to reverse Trump's tax reform. If you think I'm kidding check out the states where the liberals are stealing the windfall their citizens got from Trump by raising the local taxes.
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