Deflated: Prices in Greece at a 50-year low (Nov 2013)

falling-prices

Source: RT – Deflated: Prices in Greece at a 50-year low

Notable excerpts:

Prices of goods in Greece, from milk and bread to medicine have fallen by 2.0 percent in October, and are now at their lowest since 1962. Only the price of alcohol and tobacco increased in the last year.

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Can China Lead Greece Out Of Darkness? (Sep 2013)

chinese_economy

Source: BBC News – Can China lead Greece out of darkness?

At Greece’s southern port of Piraeus, the Chinese have arrived.

Rail-mounted cranes use a complex system of ropes and pulleys to offload containers from cargo ships onto lorries.

The equipment was built by China’s state-run shipping company, Cosco, which paid 500m euros (£426m) to upgrade and run the terminal. It is Greece’s largest inward investment and gives China a key access point to Europe.

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Merkel denies debt write-down for Greece (Aug 2013)

eu_bailout_summit

Source: RT – Pre-election talk: Merkel denies debt write-down for Greece

Notable excerpts:

German Chancellor Merkel has spoken out against a debt write-down for Greece, adding a third bailout is possible from 2014. In the lead up to September’s elections this is another German attempt to reassure voters Greece’s rescue won’t cost them more.

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Costly Greece: IMF Says Lenders Need To ‘Forget’ About €7.4bn Of Its Loans (Aug 2013)

euro_crisis

Source: RT – Costly Greece: IMF says lenders need to ‘forget’ about €7.4bn of its loans

Notable excerpts:

Eurozone governments should be prepared to write off big chunks of their loans to Greece, around about €7.4bn within the next two years, according to the IMF.

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Eurozone Debt Burden Rises To Record 92.2 Percent Of GDP In Q1 (Jul 2013)

Debt-Bomb

Source: Washington Post – Eurozone debt burden rises to record 92.2 percent of GDP in Q1

Notable excerpts:

Europe’s debt dynamics keep getting worse in spite of years of cost-cutting and tax hikes designed to return public finances to health.

Official figures showed Monday that the debt burden of the 17 European Union countries that use the euro hit all-time highs at the end of the first quarter even after austerity measures were introduced to rebalance the governments’ books.

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