Post by Emperor AAdmin on Mar 16, 2024 23:13:03 GMT -5
Unveiling Greece's Economic Miracle: From Crisis to Investment Grade
Explore Greece's Remarkable Economic Turnaround: From 'Junk' to Investment Grade
Join us in this captivating journey as we delve into Greece's incredible economic transformation. In this video, we'll cover the inspiring story of Greece's resurgence, its implications for the nation, and the potential outcomes that lie ahead.
Chapter 1: Economic Recovery
Witness the remarkable journey of Greece's economic recovery. From being rated as 'junk' to achieving a stable BBB- investment grade, Greece's transformation has been nothing short of extraordinary. After overcoming the debt crisis that rattled the nation, Greece's public finances have been restored, marking an end to a tumultuous era.
Chapter 2: Implications
Discover the far-reaching implications of Greece's economic revival. Explore the cyclical nature of the tourism industry, the surge in capital formation, and the significant increase in factory production and infrastructure development. Greece's capital expenditures are outpacing its past, setting the stage for a bright economic future. As the private sector takes charge, the nation's economy is undergoing a positive transformation.
Chapter 3: Potential Outcomes
Uncover the potential outcomes for Greece as it embraces its newfound economic stability. We'll explore the factors that contribute to the country's resilience, including prudent fiscal policies, structural reforms, and a transition to an investment-oriented economic model. As Greece eyes a boost in investor confidence, a flurry of reports from rating agencies will keep the world's attention on this Mediterranean success story.
Don't miss this engaging exploration of Greece's economic resurgence. Like, subscribe, and stay tuned for more updates on global economic transformations!
Disclaimer: The information provided in this video is for educational and informational purposes only and should not be considered professional financial, investment, or legal advice. We shall not be held responsible for any errors or omissions in the content. Any action the viewer takes based on the information provided in this video is solely at their own risk.
some replies:
@kevinjimtheone
2 months ago
The country itself is in decay, though. For almost two decades, there has been significant underinvestment and slashing of support in almost all public areas. Hospitals have no doctors, staff, or working devices. Roads, bridges, rail, etc. have been rotting away and some have started to literary crumble. The single "fast" rail line the country had, connecting the two biggest cities, was destroyed twice within a couple of months of each disaster. Ones due to the deadliest accident in the history of the country when two trains collided, and another when the rail lines sunk because a whole part of the country flooded.
If you don't have money, and you need medical assistance, you are porked. There will be no doctor available to see you, or maybe the device you require is not operational. So, you have to pay and visit a doctor/hospital outside the national medical network - which you pay a percentage of your salary towards.
2 months ago
The country itself is in decay, though. For almost two decades, there has been significant underinvestment and slashing of support in almost all public areas. Hospitals have no doctors, staff, or working devices. Roads, bridges, rail, etc. have been rotting away and some have started to literary crumble. The single "fast" rail line the country had, connecting the two biggest cities, was destroyed twice within a couple of months of each disaster. Ones due to the deadliest accident in the history of the country when two trains collided, and another when the rail lines sunk because a whole part of the country flooded.
If you don't have money, and you need medical assistance, you are porked. There will be no doctor available to see you, or maybe the device you require is not operational. So, you have to pay and visit a doctor/hospital outside the national medical network - which you pay a percentage of your salary towards.
@georgebourlos1430
4 months ago (edited)
Almost no youtube video makes referrence to the main driving factor behind achieving a Government Budget surplus between 2014 and 2015. This was caused by the increase of POS usage by small and medium sized businesses (from 10% at the beginning of 2015 to 92% at the end of 2015). Recording revenue transactions electronically via DIAS-interbank system enabled the SYRIZA government to finally tax it properly and miraculasly the true revenue of tourism related business in Greece was revealed to the World... True Greek GDP was much higher than recorded by EU authorities and ELSTAT (by at least 60bn euros)... What tricked greek business ment to install POS machines at their counters? The cash-liquidity stagnation caused by Mario Draghi during his battles with Varoufakis....
4 months ago (edited)
Almost no youtube video makes referrence to the main driving factor behind achieving a Government Budget surplus between 2014 and 2015. This was caused by the increase of POS usage by small and medium sized businesses (from 10% at the beginning of 2015 to 92% at the end of 2015). Recording revenue transactions electronically via DIAS-interbank system enabled the SYRIZA government to finally tax it properly and miraculasly the true revenue of tourism related business in Greece was revealed to the World... True Greek GDP was much higher than recorded by EU authorities and ELSTAT (by at least 60bn euros)... What tricked greek business ment to install POS machines at their counters? The cash-liquidity stagnation caused by Mario Draghi during his battles with Varoufakis....
@kastoraki
6 months ago
8:27 stock market for MYTIΛ, now is 36, ΟΠΑΠ now is 15, ΔΕΗ now is 10.5, ΤΕΡΝΑ 10Euros/stock and so on.
As a Greek i can say that we left the worst behind us but I can't be so optimistic about the future because nothing really changed.
Of course are more job opportunities but no real productive-exporting enterprises founded, no factories built.
Second, is the public debt which remains enormous.
Third, the public sector remains huge, not reformed with a lot of public employees and well paid=burden for budget.
Fourth, too many pensioners, the majority of them well paid=burden for budget.
Only turism thrives but this affects some places and for limited time during the year plus how vulnerable can be this source of money because of many factors like for instance was COVID.
6 months ago
8:27 stock market for MYTIΛ, now is 36, ΟΠΑΠ now is 15, ΔΕΗ now is 10.5, ΤΕΡΝΑ 10Euros/stock and so on.
As a Greek i can say that we left the worst behind us but I can't be so optimistic about the future because nothing really changed.
Of course are more job opportunities but no real productive-exporting enterprises founded, no factories built.
Second, is the public debt which remains enormous.
Third, the public sector remains huge, not reformed with a lot of public employees and well paid=burden for budget.
Fourth, too many pensioners, the majority of them well paid=burden for budget.
Only turism thrives but this affects some places and for limited time during the year plus how vulnerable can be this source of money because of many factors like for instance was COVID.
@ptolemy336vv
6 months ago
Greece is doing well! it's still not out of every part of the woods, but its setting up a robust foundation to keep on growing. And it's finally paying off. Greece will also see the greatest reduction of debt in 2022-2025 and by that time the debt to GDP will have lowered from 210% to 150%
Economy is growing. And Greece is making investments in infrastructure, education, digitalizing many aspects of the economy and more. Also. Greece has 80% mountains and a very complex geography. Even though Greece is well on its way in the green energy transition, it also is the gateway for new gas flows into Europe and many more things.
But Greece also has (assessed) a huge amount of untapped resources of gas and oil. Below Crete there may be gas/oil resources that may be like in the regions of Qatar, UAE, etc.
Also. China and USA/Europe are in some forms of chip war. But China from it's end is threatening to reduce Gallium and Germanium resources among other things, as these rare metals China is one of the largest sources for in the world. But Greece has 28 out of 32 rarest mineral elements in it's geography and now there are with new push for resource researches, finding big deposits of Gallium and Germanium. So, this is great news for Greece, but also for Europe, west, and other parts of the world either way.
And also. Like Greece, Norway has a mountainous territory. In Norway we found the largest deposits of Phosphate in the world. Point is. Europe, but also in this case Greece has many more unknown resources than it appears to be. And Greece can be even in this regard a important part of that
6 months ago
Greece is doing well! it's still not out of every part of the woods, but its setting up a robust foundation to keep on growing. And it's finally paying off. Greece will also see the greatest reduction of debt in 2022-2025 and by that time the debt to GDP will have lowered from 210% to 150%
Economy is growing. And Greece is making investments in infrastructure, education, digitalizing many aspects of the economy and more. Also. Greece has 80% mountains and a very complex geography. Even though Greece is well on its way in the green energy transition, it also is the gateway for new gas flows into Europe and many more things.
But Greece also has (assessed) a huge amount of untapped resources of gas and oil. Below Crete there may be gas/oil resources that may be like in the regions of Qatar, UAE, etc.
Also. China and USA/Europe are in some forms of chip war. But China from it's end is threatening to reduce Gallium and Germanium resources among other things, as these rare metals China is one of the largest sources for in the world. But Greece has 28 out of 32 rarest mineral elements in it's geography and now there are with new push for resource researches, finding big deposits of Gallium and Germanium. So, this is great news for Greece, but also for Europe, west, and other parts of the world either way.
And also. Like Greece, Norway has a mountainous territory. In Norway we found the largest deposits of Phosphate in the world. Point is. Europe, but also in this case Greece has many more unknown resources than it appears to be. And Greece can be even in this regard a important part of that
@g_Kchrst
6 months ago (edited)
The video is very deceiving because of it's political/ideological allignment with the Greek rulling Political Party. Greece has actually kinda benefited from the pandemic because EU took back austerity measures for 3 years but Greece has signed a memorendum till 2060 that forces trhe country to have massive excess % numbers so back to Austerity now, which btw has demolished the country's public and private sectors, keeping the country more debted that even 2009, the only country ever to fail/not be allowed to exit debt after so long. We have sold out everything. Our once good public healthcare is now destroyed, out hospitals literaly don't work for more than the basics, especially in countryside, we don't even have ambulances. Our education system has also hit rock-bottom. Our Universities are not funded at all and our school education is 40 years behind. We have sold out every big public company foreign public companies that rule the country. Communications are controlled by a German Public Company, Electricity by CVC, Rails by a bunkrupt Trenitalia, Pereus Port by Cosco (China), Airlines by Aegean and the rest like Energy by Greek Oligarchs that are becoming The Law. Our Freedom of Speech is suffering heavily with all big TV channels being controled by Greek Oligarchs as well. After three "Bailout" memorendums (that everyone fails to mention that they were not Greece bailouts but EU/Greek Capitals and Banks Bailouts that doomed the Greek people) most of our young working force is now abroad (which is a problem we already suffered heavily) and now more than 500k young people are living abroad. Living alone for a young person here is almost impossible as well. The standart/basic payment in Greece now is around 780 euros and renting a small house with all the bills costs around 550 euros. People are forced to live with their parents until they are in their 35s here, lol. I mean, sure, everything is going according to plan.
6 months ago (edited)
The video is very deceiving because of it's political/ideological allignment with the Greek rulling Political Party. Greece has actually kinda benefited from the pandemic because EU took back austerity measures for 3 years but Greece has signed a memorendum till 2060 that forces trhe country to have massive excess % numbers so back to Austerity now, which btw has demolished the country's public and private sectors, keeping the country more debted that even 2009, the only country ever to fail/not be allowed to exit debt after so long. We have sold out everything. Our once good public healthcare is now destroyed, out hospitals literaly don't work for more than the basics, especially in countryside, we don't even have ambulances. Our education system has also hit rock-bottom. Our Universities are not funded at all and our school education is 40 years behind. We have sold out every big public company foreign public companies that rule the country. Communications are controlled by a German Public Company, Electricity by CVC, Rails by a bunkrupt Trenitalia, Pereus Port by Cosco (China), Airlines by Aegean and the rest like Energy by Greek Oligarchs that are becoming The Law. Our Freedom of Speech is suffering heavily with all big TV channels being controled by Greek Oligarchs as well. After three "Bailout" memorendums (that everyone fails to mention that they were not Greece bailouts but EU/Greek Capitals and Banks Bailouts that doomed the Greek people) most of our young working force is now abroad (which is a problem we already suffered heavily) and now more than 500k young people are living abroad. Living alone for a young person here is almost impossible as well. The standart/basic payment in Greece now is around 780 euros and renting a small house with all the bills costs around 550 euros. People are forced to live with their parents until they are in their 35s here, lol. I mean, sure, everything is going according to plan.