The euro crisis is nearing a new high point: Karen Millen Dresses
On Sunday, the Greeks choose a new parliament - the leftists win, a rift threatening the donors. But how could it come to this? Chronology of a disaster.
Hamburg - The Euro-rescuer preparing for emergencies: If the election is in Greece on Sunday, the unity of the Euro-zone on the game. If the leftist coalition win at the 37-year-old Alexis Tsipras, threatening a massive conflict with the partners of the Community currencies. Because Tsipras promises to the voters to cancel the saving agreements.
This in turn would lead to a stop of the international aid loans, warned Bundesbank chief Jens Weidmann. He described a loosening of restrictions in the Spanish newspaper "El País" as "not possible". A withdrawal from the euro-zone is Karen Millen not ruled out. The reason: If the lender to adjust its aid payments, Greece would bankrupt almost immediately. To be able to pay back, the country could be forced to abandon the euro - and the drachma was reintroduced.
This would have dramatic consequences. Given Karen Millen Dresses the necessarily following devaluation of the new currency is thus expected to chaos for consumers and businesses. Inflation and unemployment would rise sharply, it threatens social unrest.
More unemployed than employed
Meanwhile, Greece is the fifth consecutive year of recession, the economic output by a quarter since 2008. The number of jobless rose Greeks so much that there are more unemployed than employed.
How could this happen? It is clear that the political elite has Karen Millen Dress
surreptitiously using tricks and manipulation of statistics to be included in the euro zone. The goal: The government in Athens wanted to benefit from low interest rates, investors €-countries for new debt granted. In return the land but lost the ability to increase the international competitiveness by it devalued its currency. How much has the country lived beyond its means since 2001, the public was revealed only in the fall of 2009. At that time the government had to admit to a deficit of 12.5 percent - in the household lacked money twice as much as previously thought.