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Reasons to stay in Greece for at least another month – D Day

Tom Winnifrith
Wednesday 25 July 2012

I see that Greece is set to run out of money and go bust on August 20th. That is unless it gets more international cash to repay loans due in less than a month. And since it is not sticking to the austerity programme in a meaningful way it may not get the cash. Hmmm what to do?

Of course this is insanity. Greece is borrowing money to repay money. A sort of payday loan. The condition is implementing measures that will send unemployment from 27% to well over 30% so cutting tax receipts and prompting even more civil disorder which is a) costly to control and b) scares off the tourists at the peak of the season so slashing tax receipts even more/ creating more unemployment with associated costs so pushing the country further into the merde. It is sheer insanity.

Clearly there will be chaos and disorder as the deadline approaches. I am your man on the spot. It is a hard life but I feel obliged to spend another 25 days on the beaches before trundling down to Athens for D Day. That is D for default, debt, destruction, damage, deranged, disaster, doom, despair, deliverance (from the Euro), death (of democracy?), drachma (return of), demise Day. Meanwhile I think I shall be converting the £20 pound notes I carry with me in only small batches.

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About Tom Winnifrith
Tom Winnifrith is the editor of When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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