The Greek economy is slowly contracting. The government has
1.lashed spending,
2.taxes have been increased and the
3.banks are not lending.
It is not rocket science to figure out why the economy is shrinking. At least on of these factors has to be reversed to get things moving forward.
There is not sign that either will change in the near future and in fact taxes will probably be increased further and government spending is definitely not going to be increased.
Only if the banks start lending can thing return to normal.
It doesn’t need to be like this. The whole problem stems from the fact that the issuing of money is monopolized by the big banks. I don’t know about Greece but in the UK 95% of the money in circulation is made by the banks, not the Bank of England.
If the creation of money was free to any business that wanted to print it there would be no problem in Greece.
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