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IMF chief Lagarde: Little sympathy for Greece

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  • #46
    Originally posted by snapper View Post
    Ouch! Greek barman keeping a stash of euros under his mattress I suppose.
    I am not talking barman here, but people who own smaller hotels, shops, etc... Friend says people are very affraid to even have the money go through the banking system, making deposits is as likely as Martians landing. No payments above 20 EUR are accepted (either the card reader is broken, or they openly admit they don't accept CCs). The business is suffering from this self imposed restriction, but they feel safer.

    Then you have international chains who accept CCs, but have virtually parked tanks in front of their shops. Nice welcome, eh?

    Banks work only in the morning. When there are no riots, the police is busy with smaller burglars.


    As for exchange rate... Dok's pal gets the same for his dinar in Greece as he would in Germany. That is the problem.
    For our dEnar we won't get a dime in Greece or in Germany. Noone around to exchange it ;) For the euros we would get same or more in Germany then in Greece. At least this is the impression I've got.


    Originally posted by Repatriated Canuck View Post
    If you go to Greece you will see almost every home with rebar sticking out the concrete roof. From what I was told an incomplete house does not pay property tax. I saw the majority of homes look like this everywhere I went.

    If what I said is true given the amount I saw around it's a country of deadbeats.
    There is a law for building over here saying you must finish the building within 2 years after the building permit is issued. If you fail, there is a fine, bigger then property tax. If you fail to pay the fine and finish the building in the new 6 months term it will be confiscated.

    Not sure how it is in Greece, but you don't attract tourists with rebars popping everywhere.
    No such thing as a good tax - Churchill

    To make mistakes is human. To blame someone else for your mistake, is strategic.

    Comment


    • #47
      Back to Lagarde and the Euro.

      Lagarde: Less than three months to save the euro

      (CNN) – Action to save the euro is needed in “more shortly than three months,” IMF Managing Director Christine Lagarde told CNN’s Christiane Amanpour in an exclusive interview.

      Lagarde’s tight deadline was a response to billionaire investor George Soros’ prediction that Europe has three months to save the euro.

      “The construction of the eurozone has taken time,” Lagarde said. “And it’s a work in construction at the moment.”

      Lagarde declined to predict whether Greece would exit the eurozone.

      “It’s going to be a question of political determination and drive,” she said.

      Lagarde came under fire recently for highlighting Greek tax evasion. She apologized that her comments were taken “in a very inflammatory way and created offence.”

      “But equally,” she said, “I think that tax compliance is a necessary tool to restore any country’s situation – Greece, like others.”

      Austerity vs. Stimulus

      The accelerating crisis in Europe has brought into starker focus than ever the argument over stimulus versus austerity.

      In a press conference on Friday that focused heavily on the economic situation in Europe, U.S. President Barack Obama said that austerity, coupled with rising unemployment, “can actually make it harder for [European governments] to carry out some of these reforms over the long term.”

      “You need to reduce the fiscal deficit gradually, steadily,” Lagarde said. “It doesn't have to be this belt-tightening that everybody is talking about, but it has to be solid.”

      The female Chancellor

      Amanpour asked Lagarde if she believed German Chancellor would get so much criticism if she weren’t a woman.

      Lagarde seemed taken aback by the question, and took a long pause. “No,” she said.

      “I think she’s a very strong leader. She’s a very courageous woman.” Lagarde said.

      “It’s, you know, surprisingly and, and very practically, a male-dominated world, where she stands out.”
      No such thing as a good tax - Churchill

      To make mistakes is human. To blame someone else for your mistake, is strategic.

      Comment

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