Statistics in Greece is a combat sport

Elstat is Greece’s new independent statistics agency. Elstat has been commissioned by the European Commission to “clean up” the statistics, after decades of corruption and inadequacy by the Greek finance ministry. Yet, Elstat is now facing opposition in the form of an official criminal investigation by the Greek government for “inflating the scale of theContinue reading “Statistics in Greece is a combat sport”

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Crisis of Confidence

At this point it really doesn’t matter which way the crisis in Greece goes. The worlds confidence has fallen as bond markets have shown more alarm and the GIIPS have been forced a bailout. Government debt situations and the banking industry and heavily linked GLOBALLY, and more is likely to come (MF GLOBAL). The fallContinue reading “Crisis of Confidence”

Effort = f(volume, distance, friction)… The Fiscal Crisis in Greece.

The fiscal crisis in Greece is deepening, today she stands at a budget deficit of almost 13% of GDP. I fear that the longer Athens waits to adopt a credible solution to deal with the country’s economic  troubles the worse it will get. The cost of Greek debt has already been blamed for the currency decline of the EuroContinue reading “Effort = f(volume, distance, friction)… The Fiscal Crisis in Greece.”