Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:

If Greece has currently (2010) a primary deficit of 4,5% than why would "a default at this time would lead to the cessation of pension and other social payments" and not a net cut of ~5% in all public expenses?

Because the 5% is 5% of GDP, not 5% of government expenses (which are something closer to 35% of GDP - so spending would need to be slashed by 15% across the board.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sat Apr 16th, 2011 at 11:43:04 AM EST
[ Parent ]

Others have rated this comment as follows:

talos 4

Display:

Top Diaries

Occasional Series