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Europe
Greece ‘to run out of money’. Again.
2012-10-08
Yes, again. And they'll keep 'running out of money' as long as Europe keeps bailing them out.
CASH-STRAPPED Greece will run out of money NEXT month, if it doesn’t receive another emergency bailout, its Prime Moocher Minister warned today. Antonis Samaras said the “till will be empty” by November, adding it was “very difficult” to make any further cuts to pensions and wages.

Asked how long his homeland could last without another injection of funds, Mr Samaras said: “Until the end of November. Then the till will be empty. The existing cuts already go to the bone. We are at the limit of what we can expect of our population.”

Officials from three global financial bodies are currently in the country researching whether enough has been done to qualify for extra aid. And, if their report doesn’t back another 31billion euro (£24.9billion) pay-out, Greece could be forced to default on its debts and leave the euro.

ItÂ’s unclear when a decision will come.
Oh, maybe right as the next tranche is due...
Greece has been relying on hand-outs since May 2010 as it struggles to pay off a mountain of debts. In return it has had to impose a raft of supposed austerity measures, slashing incomes, hiking taxes and raising retirement ages.

The conservative Samaras leads a three-party coalition government formed after two elections earlier this year. He said: “People know that this government means Greece’s last chance.

“We will make it. If we fail, chaos awaits us.”

GermanyÂ’s Chancellor Angela Merkel is to visit Greece next week as Athens tries to persuade creditors it deserves another bailout.
Posted by:Steve White

#12  It's not a union, there's not benefit from cartelising each countries legal systems. Quite the opposite in fact.

It just suits the ruling classes false preconceptions that this time, they're the people who can make marxism work...
Posted by: Bright Pebbles   2012-10-08 16:40  

#11  Watching the European Union is like seeing a guy on life support. Somebody pull the plug ... please.
Posted by: Raider   2012-10-08 12:41  

#10  don't say his name again! He's like Beetlejuice!
Posted by: Frank G   2012-10-08 12:18  

#9  Maybe after a year or two of actually working for a living he'll start making more sense.
Posted by: Ebbang Uluque6305   2012-10-08 11:58  

#8  As I recall, Aris took a job in England after he graduated from university, and was happily working his tail off, glad to be far from Greece.
Posted by: trailing wife   2012-10-08 11:37  

#7  Yes, he was, BP.
Posted by: Raj   2012-10-08 11:07  

#6  Wasn't semi-troll "Aris K" from greece?
Posted by: Bright Pebbles   2012-10-08 11:02  

#5  Antonis Samaras said the "till will be empty" by November, adding it was "very difficult" to make any further cuts to pensions and wages.

Hmmm...if you run out of money, there's a one hundred percent cut of pensions and wages. After skipping a couple paydays, I suspect the recipients will be happy with something less than one hundred percent, but greater than nothing.
Posted by: Procopius2k   2012-10-08 09:11  

#4  They donated to Obama election?
Posted by: Vinegar Henbane5537   2012-10-08 08:54  

#3  Perhaps the Greeks could issue bonds for sale to the World Bank, who could then bundle them as derivatives and have our Federal Reserve step in to assume the paper in an open-ended QE move. At that point, heavily regulated US Banks or 401k funds could be forced to purchase the paper.

Oh WAIT!
Posted by: Besoeker   2012-10-08 05:58  

#2  Is it just me, or does anyone else suddenly want to listen to Al "The Entertainer" Jolson mimic on Looney Tunes sing "November" [Mammy, Mammy]???

Or twas it "Mammy" [November]?

Who loves ya Baby = Mammy???
Posted by: JosephMendiola   2012-10-08 01:51  

#1  Oh gee darn. What a tragedy.
Posted by: DarthVader   2012-10-08 00:22  

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