Greece has opened its accounting books to the Troika because it had no other choice. For many years it has cooked its statistics, and run a politically corrupt system. Finally, it has run out of money and creative options to prop-up its economy.
There is no will in the EZ to finance corruption and continued economic mismanagement. Greece has to abide by the promises that it has made, but failed to deliver. Blackmailing the troika doesn't work anymore - no aid will be forthcoming until there is no progress in economic and financial restructuring.
The EZ is starting to make some political and economic progress: France has won concessions on ECB, Germany won concessions on Ez economic management and integration.
ECB remains politically independent, but all EU governments have to balance their own books.
In regards to the 13.3B DMK - it may never be accounted for since most of these notes and coins are outside Germany. Even i own some, but couldn't be bothered to exchange it. No, not i don't care how much it is worth, only keep it for sentimental reasons. Many currency traders, tourists and 'older German' people do:-).
- Forums
- Economics
- no improvement in greek land
Greece has opened its accounting books to the Troika because it...
Featured News
Featured News
The Watchlist
NUZ
NEURIZON THERAPEUTICS LIMITED
Dr Michael Thurn, CEO & MD
Dr Michael Thurn
CEO & MD
SPONSORED BY The Market Online