Greek economy to shrink more than expected


Mas como é que isto aconteceu?

"Greece's economy will contract more than projected in 2013, its sixth year of recession, under the weight of the next round of austerity measures demanded by international creditors... to open the way for the country's next aid tranche from its second €173 billion bailout.

... The latest package includes €10.5 billion in spending cuts and €3 billion in higher taxes, according to government officials. Of the spending cuts, €6.7 billion will come from pensions and public-sector salaries and bonuses, while an additional €3.8 billion will come from government operating expenses.

The spending cuts in the package envision raising Greece's retirement age to 67 from 65 currently; cutting two extra-month bonuses now paid to public servants and retirees; cutting wages to uniformed personnel by 12% on average; cutting pensions above €1,000 a month by as much as 10%; and reducing other supplemental pensions.

... Greece hopes that by securing a deal on the fresh budget cuts, it will be able to push ahead with a demand to extend the implementation of its bailout program by another two years in an effort to ease the pain of austerity measures on the recession-ravaged economy."

1 comentário:

O faroleiro disse...

infelizmente, em matéria económica tenho muitos pontos em desacordo com este blogue (isto, embora eu seja um feroz igualitarista - ou não fosse eu católico)

ver este post do krugman que acabei de afichar no meu barquinho:

" should we say that internal devaluation is less urgent because external factors had a role in causing the original imbalances? On the contrary, internal devaluation becomes even more necessary – and the size of the relative wage change bigger – if the euro is to survive. Think about it: if secular shifts in trade patterns are responsible, in a proximate sense, for part of Spain’s move into trade deficit and Germany’s move into surplus since 1999, what this says is that even if you get relative wages back to 1999 levels, Spain will still be in deficit and Germany in surplus – so you need to go beyond that point.
Food for thought – and for even more europessimism."