Greece


Understanding the Greek debt crisis

A while back I noted that we should be looking at Greece for where not to end up in the future, seeing that G.O.B. keeps borrowing more and more every day that goes by; adding more and more debt on the shoulders of every Belizean that will have to be paid for by many future generations. I want to share these videos with you all so you can understand what’s going on in Greece and better look at what’s happening in Belize and hopefully stand up and fight for the future of Belize. After all, our children and their children […]

Debt

The truth of why Europe wants Greece to suffer

Another reason why Belize should be paying attention to what is going on in Greece and start to make changes before we get to the same place. The truth about the never-ending financial crisis & the cult of extreme austerity Greece’s financial nightmare has lasted five years now. There’s no sign of real relief—for a very specific reason   For someone who writes about economics, the situation in Greece offers two enticing elements: the ability to spin out moments of high drama, and the probability it will endlessly repeat forever. We’ve experienced five years (really, here’s one of my first […]


Want to know the future of Belize? See Greece

Pay attention to what’s happening in Greece. We’ve posted about this before and things di geh dread as we say in Belize. Greece is slowly being led to slaughter house and Belize is going to the same place, Greece is at the door, Belize is making it’s way down the chute. Greece’s economy will be locked down with capital controls if it can’t find a deal by the weekend European governments are ready to push for capital controls in Greece would mean a severe lockdown on flows of cash … strict limits on the amount that could be withdrawn from […]


The 'Grexit' Issue and the Problem of Free Trade

By George Friedman The Greek crisis is moving toward a climax. The issue is actually quite simple. The Greek government owes a great deal of money to European institutions and the International Monetary Fund. It has accumulated this debt over time, but it has become increasingly difficult for Greece to meet its payments. If Greece doesn’t meet these payments, the IMF and European institutions have said they will not extend any more loans to Greece. Greece must make a calculation. If it pays the loans on time and receives additional funding, will it be better off than not paying the […]


UnHappy Birthday Belize

I wanted to wait for the festivities to simmer down before I put my thoughts out to my fellow Belizeans. I do not know how you will receive my speech or how it will be scrutinized, but these are my heartfelt convictions. I heard some of the speeches and for the most part heard a lot of pretty flowers, shiny gems and smelt nice perfume that all masked the reality that our nation faces today, 33 years and a couple days old. I won’t go into the pretties too much, you know that is not me. My idea is to […]


Greece – the Country we should be studying for what NOT to do

Seeing how the International Financial market has led nations to be on one knee and some with seemingly no hopes of getting back on their own two feet; Greece stands out today as THE example of what NOT to do to get yourself out of the hole you were thrown into. Open you browser and search for Greece and it’s financial woes and you will understand.. A bit ago we posted What happens when a country Defaults on their Foreign Debt or gets a Bailout to avoid Foreclosure? and ‘Meddlers’ upset Greek sell-offs both articles describe the dire situation in […]


The Last Stand of the 300 Spartans 1

The History Channel Documentary The battle of Thermopylae was the first between the Persians and Greeks during the Persian invasion of 480-479 BC. The Greek force was very small but was determined to make a stand against the huge Persian army. Sparta would lead the Greek army, as her reputation in war was unmatched by any other Greek state. The Greeks had chosen to defend a narrow pass, or gap, between the mountains of central Greece and the sea, called Thermopylae. This pass was part of the route into Greece from the north. Here the Greek force now waited, made […]


'Meddlers’ upset Greek sell-offs

Austerity measures have provoked demonstrations in Athens. Photo: REUTERS/Yiorgos Karahalis By Colin Freeman – 7:00AM BST 26 Aug 2012 Greece’s attempts to balance its books by selling off its bloated state sector are in disarray because of political meddling, the country’s former privatisation chief has warned. Costas Mitropoulos, who resigned last month from the Hellenic Republic Asset Development Fund, told The Sunday Telegraph that a lack of “political visibility” around the privatisation programme meant there was little prospect of investors committing at present. As chief executive of the fund, Mr Mitropoulos, 57, a former executive chairman of Eurobank EFG Equities and […]


Debt inspectors face dilemma over Portugal

By BARRY HATTON | Associated Press LISBON, Portugal (AP) — Foreign inspectors faced a dilemma as they began assessing Portugal’s compliance with the terms of its financial bailout agreement Tuesday. Portugal has broadly abided by its commitments to slash spending and reform the economy in return for last year’s €78 billion ($98 billion) rescue. But falling tax revenue due to a recession means Portugal is likely to miss its budget deficit target of 4.5 percent this year. That means the bailout lenders may have to grant Portugal more time to meet its deficit goal — a concession they are hesitant […]


Greek lesson encourages can pay, won't pay states 1

By Martin Hutchinson Aug 20 (Reuters Breakingviews) – Belize is trying to force a debt restructuring. The 330,000-strong Caribbean nation’s government has said it can’t make a $23 million debt payment due on Monday. The country is more or less solvent, but its cash is precious and its debt expensive. Foreign creditors have limited leverage, as the Greek and Argentine examples show. They can lose their shirts even if countries don’t go bust. Tourism was picking up as a boost to Belize’s formerly mainly agricultural economy before the 2008 financial crisis, but has suffered since then. In recent years, government […]


What happens when a country Defaults on their Foreign Debt or gets a Bailout to avoid Foreclosure? 4

Lets look that the Bailout deal struck today to attempt to save Greece from Financial disaster. EU – European Union ECB – European Central Bank IMF – International Monetary Fund The second bailout for Greece will avert imminent bankruptcy and Greece will stay in the Eurozone. The deal comes in two parts: Investors take a huge loss of $142 Billion Dollars (A loss of nearly 55%) Greece will receive 130 Billion Euros in new loans. But before that can happen they have to implement 3 Billion Euros in spending cuts. To add, they will get an interest rate reduction to […]