Friday, July 22, 2011

EU Marshall Plan for Greece to be fronted by German Economic Storm Troopers!

Privatisation of Greek national assets through discounted sales to foreigners, perhaps even at discounts to foreign banks "voluntarily" elsewhere rolling over their Greek bonds, are now to be followed by an even stranger misapplication of what the original Marshall Plan for Europe involved. Read here. A quote:

German industry on Thursday displayed its enthusiasm to work in Greece, with the Federation of German Industry (BDI) saying the rescue package agreed by the eurozone countries was only one element of what was needed.

“We also urgently need an investment programme, a business plan, a plan for the reconfiguring of the Greek economy,” said BDI manager Markus Kerber.

The country should not only be able to bear its debts, but with the help of a different economic model, should also be able to achieve earnings in order to reduce its debts in the long term, he said.



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