Bankrupt Greece trending towards Hyperinflation...

[The_Unwelcome_Guest]

A foretaste…

Consumer prices in the country increased 5.4 per cent from a year earlier after a 4.8 per cent gain in April, the Hellenic Statistical Authority said last week, prompting Finance Minister George Papaconstantinou to call the figure “worrying.”

The price of alcoholic beverages and tobacco products rose an annual 16.9 per cent while transport costs jumped 20.3 per cent following an increase in the excise duty on fuel.

irishtimes.com/newspaper/bre … ing33.html

[CaveCanem]

Hard to see hyperinflation kick in while they’re still in the euro. Though with a weaker euro, eurozone might face a bit more inflation.

The Greek inflation is probably a blip caused by increased tax of the essentials (smokes, booze & fuel)

[The_Unwelcome_Guest]

@CaveCanem

The Greek inflation is probably a blip caused by increased tax of the essentials (smokes, booze & fuel)

Where we’ve already been gouged… Question is! What’s left to gouge but higher personal taxes here!

[DeflationIsGood]

@The Unwelcome Guest

Question is! What’s left to gouge but higher personal taxes here!

Hopefully theyll gouge public spending instead.

[dolanbaker]

news.bbc.co.uk/2/hi/business/10308395.stm

Greek government bonds have been downgraded four notches to “junk” status by Moody’s credit rating agency.

The agency said there was still “considerable uncertainty” surrounding the impact of measures introduced to cut the country’s high budget deficit.