Greece, mired in two rescue plans for 240,000 million
Greece is still mired in uncertainty and now faces a key legislative Sunday 17, converted into a referendum on his tenure in the euro, despite the two aid programs of the European Union (EU) and the International Monetary Fund (IMF) value of 240,000 million euros.
According to official data, the Greek economy will shrink this year for the fifth consecutive year at 4.75%, and from 2008 to 2011 its GDP accumulated a fall of 13.8%.
The adjustments and austerity promoted by international creditors has caused unemployment has more than doubled to the current high of 22%.
Have also been closed about a third of business and the falling purchasing power of most of the Greeks has been reduced by almost half, while more than a quarter of the population lives below the poverty line.
Higher taxes and fees linked to the reduction of pensions has focused on a particularly difficult for older people with more modest pensions, according to reports from many NGOs.
The public deficit closed in 2011 at 9.1%, well behind the plans, because of the effect of economic contraction in tax revenues.
At the same time, the risk premium is above the 2,700 points, a level of funding that keeps Greece can be financed and makes it completely dependent on the EU and the IMF for not suspending payments.
The so-called debt crisis began soon after the victory of George Papandreou Social in October 2009, after announcing that the deficit left by the previous conservative government of New Democracy was 6%, but 12.7% of GDP.
Subsequent revisions of the EU finally placed it at 15.4%.
In 2008 Greece ended a growth cycle of 15 years, coupled with the distrust generated by the data hidden deficit and drastic cuts rating agency risk measurement markets closed to the public debt helena.
In May 2010, the EU and the IMF approved a loan amounting to 110,000 million euros, which has been delivered in installments, in return for a draconian plan savings in public spending and other structural adjustments.
A year later, another program was approved aid worth 130,000 million euros, which included removing half of government debt in private hands, about 100,000 million.
The unpopularity of the savings measures stoked protests in the street and wore both Papandreou last November that left the government, which was remodeled to give input also conservatives and ultranationalists led for five months, until early May, and Lukas Papadimos former Prime Minister.
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