Limited Purpose Banking

The Truth about Greek Debt and German Generosity

Publication: 
PBS Newshour
Date: 
2015-07-22

Today, and for a long time now, there’s been a lot of intentional misinformation about the size of Greek debt. From what I can tell, it’s miles less than the commonly reported and terribly ominous 175 percent of Greek’s 240 billion euro GDP.

Here’s what’s really going on, described by way of a stark analogy.

Greece Is Far Less Indebted and Germany Is Far More Generous Than You Think

Publication: 
Forbes
Date: 
2015-07-21

John Mitchell, Nixon’s Attorney General, was an terrible liar. He was jailed for perjury for giving false testimony during the Watergate hearings. Still, he knew a lot about lying. He could also turn a phrase. My favorite Mitchell quote is, “Figures lie and liars figure.”

Today, and for a long time now, there’s been a lot of lying about Greek debt. From what I can tell, it’s miles lower than 175 or so percent of Greek’s 240 billion euro GDP.

How Greece Can Reopen Its Banks and Retain the Euro

Publication: 
Forbes
Date: 
2015-07-07

Unfortunately “What happens in Vegas stays in Vegas” doesn’t apply to Greece. Regardless of whether the Troika (The European Union, the European Central Bank, and the IMF) ultimately writes off more of Greece’s debt, the country is in its economic death throes. And the distressing spectacle is sending shudders around the world.

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