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This isn't a payday loan trap. Greece has a structural government AND trade deficit, not a payday liquidity problem. Even if the loans were forgiven today, they
by jules 12y ago
This isn't a payday loan trap. Greece has a structural government AND trade deficit, not a payday liquidity problem. Even if the loans were forgiven today, they would have to loan again tomorrow.
- ptaipale 12y agoActually, Greece eliminated that deficit so that it had primary surplus on 4Q2013 and 1Q2014. Then an election campaign started. http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=121.GST.Q.GR.N.D1300.PDF.D0000.CU.E http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=121.GST.Q.G... The surplus was apparently achieved with some helpful interpretation by the "troika", in order to support Greece: http://blogs.wsj.com/brussels/2014/04/23/greek-primary-surplus-statistics-troika-edition/ http://blogs.wsj.com/brussels/2014/04/23/greek-primary-surpl...