Relevant:
- Greek Bailout Rests on Asset Sale Plan That Already Failed
- Greek Firms Using Non-Cash Forms of Payment to Dodge Payroll Charges
- Greece Gives Banks Banks $22.6 Billion As Exit Panic Causes Savers To Pull Funds
- Greece Aims to Raise $50 Billion From Sales of State-Owned Property Assets
- Panic Sets in Among Hardy Hedge Fund Investors Remaining in Greece
2013-10-08 — cnbc.com
John Paulson and a clutch of bullish U.S. hedge funds are leading a charge into Greek banks, confident that Greece, long seen as the weakest economy of the euro zone periphery, is on the turn.
Such is the strength of their interest that Greece's big banks are now lobbying the government to consider expediting re-privatization of the long-troubled sector. Mr Paulson, best known for his successful wager against the U.S. sub-prime mortgage market in 2007, praised Greece's "very favorable pro-business government".
And in somewhat related news: [Greek] Labor Ministry contemplates confiscations:
The Labor and Social Insurance Ministry is seriously considering drastic measures in order to obtain the social security contributions owed by enterprises and to avoid having to slash pensions and benefits.
The ministry is planning to force companies to pay up or face having their assets seized, so that the 14 billion euros of contributions due can be recouped.
While this amount -- equal to 8 percent of the country's gross domestic product -- may be easy to calculate on paper, it is virtually impossible to collect even if the state attempts to confiscate all the real estate properties of debtors and the debts of third parties to them.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
