Decision Time for Greece
February 20, 2012
The day has finally arrived for Greece to find out if they are to receive their second round of bail out cash from the euro zone. The euro zone finance ministers are expected to approve the second bail out which should bring to an end the months of turmoil and uncertainty that have shaken to entire euro zone if not the whole world. Reuters quotes “work remains to be done to make the numbers add up” [Harry: that has to make you laugh. All the months of anguish and speculation if Greece will leave the euro or not and even when they do get the second round of money they still have to cook the books.]
Reuters also quotes: “Diplomats and economists say they do not expect the package to resolve Greece’s economic problems.” [Harry: So what's the point of it then?] It could take well over a decade for Greece to remove the economic problems a sentiment that saw thousands of protesters on the streets of Athens.
[Harry: so to sum up Greece gets the money and it makes no difference. Greece doesn't get the money and it too will probably make no difference. I'm sure it will make a difference to the Greek population but I bet it probably wont have the affect on the markets that many people think it will. It will just mean that the Greek population will have to work beyond the retirement age of 50. Personally I think working past 50 is not a bad thing, look at the UK state pension age it just keeps going up and up. I'm sure by the time I want to retire the state pension will be a thing of the past, so why shouldn't the Greeks have to work past 50?]