Comments on: Could entrepreneurship jump-start Greece’s economy? http://blogs.reuters.com/great-debate/2013/10/30/could-entrepreneurship-jump-start-greeces-economy/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Alexaisback http://blogs.reuters.com/great-debate/2013/10/30/could-entrepreneurship-jump-start-greeces-economy/#comment-77903 Fri, 01 Nov 2013 19:19:24 +0000 http://blogs.reuters.com/great-debate/?p=25522#comment-77903 .

While I never guaranty anything, or rarely, my above post is as close to guaranty as one can make. To know why you have to understand what just occurred.

A HUGE issue, INCREDIBLE RULING happened in Greece yesterday – ignored by most all of the media.

Background: Greece cannot collect taxes so they started using electric bill to collect taxes and shut off any ones electric that did not pay.

ekathermini reported yesterday:

Man cleared for helping households get power back

The man who claims to have led the way in reconnecting people’s electricity after it had been cut off due to unpaid bills was cleared of wrongdoing by a court in Veria, northern Greece, on Thursday.

Nikos Aslanoglou led a group of citizens in the Macedonian city who reconnected homes to the power grid after they had been cut off by the Public Power Corporation.

Groups in other parts of Greece followed suit.

Aslanoglou appeared in court over a September 2011 connection, which he claimed was the first in Greece.

The misdemeanors court found him not guilty over reconnecting the home of an unemployed man as it deemed that access to electricity is a fundamental social right.

Aslanoglou said he would continue his activism.

—– The misdemeanors court found him not guilty … as it deemed that access to electricity is a fundamental social right —–

—– access to electricity is a fundamental social right —– well of course it is, what isn’t ?

So we will see how they next try to collect taxes.

The Cyprus grab mechanism is all but guaranteed.

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By: Alexaisback http://blogs.reuters.com/great-debate/2013/10/30/could-entrepreneurship-jump-start-greeces-economy/#comment-77902 Fri, 01 Nov 2013 19:06:48 +0000 http://blogs.reuters.com/great-debate/?p=25522#comment-77902 This author misunderstands the basic fundamentals.

Greece is broke. Their debt is incredible. They can’t pay their debt. It is impossible.

You would have to be crazy to put any money in a Greek bank, more crazy to buy Greed bonds. Until this mess is cleared up, they will piddle along but not grow.

Reported just today from ekathermini

By Yiannis Papadoyiannis

Nonperforming loans (NPLs) have grown this year to more than twice the size of local banks’ capital, as, according to a report by PricewaterhouseCoopers (PwC), they now amount to 65 billion euros, while the capital base of domestic lenders stands at 30 billion euros.

PwC added that the share of bad loans has exceeded 30 percent of all loans issued, up from 25 percent at end-2012 and 18 percent at end-2011.

2 things will occur:

1. They will do a Cyprus action, and grab all bank accounts. Then take a portion of all just as Cyprus did.

When they run through that and it is not enough

2. They will leave the EURO.

. To invest before 1 & 2 above occur is to put your money at very high risk.

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