MegaSack DRAW - This year's winner is user - rgwb
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Buried in a little paragraph inside today's "City AM": "The Greek manufacturing sector returned to growth in January, recording the strongest expansion... for just over five years."
I thought the Euro was a failing currency and the whole economic area was about to implode?
Clearly, economic forecasting is as useful as long range weather reporting, it seems...
Its all about perspective. The Greek manufacturing sector is actually a bloke called Spiros, who makes some nice vases in the shed at the bottom of his garden. If he got a bit of a spurt on and made a few more than usual last month, because the weather was a bit crap, so he couldn't go to the beach as often as usual, then he's probably doubled the output of the entire Greek economy's manufacturing base.
is it coz theyve arrested a load of the far-right golden dawn ****s and they can now get on with a bit of work again?
So having read the article, how much would a Grecian earn?
so the entire eurozone performance is based on Greek Manufacturing - it is ******
how much would a Grecian earn?
Before or after they don't pay their tax?
[quote=konabunny ]So having read the article, how much would a Grecian earn?
About five stanzas
So Woppit before you get too excited, the whole article referred to;
Solid and accelerated increases in both output and new orders lifted the PMI to its highest level in close to five-and-a-half years in January, and perhaps more importantly above the 50.0 mark that distinguishes growth from contraction.
So subtly but critically different. The [b]index[/b] rose to its highest level but only just crossed the growth/contraction marker. The actual growth was still low (but at least now in positive territory). And how was this achieved?
“Deflationary pressures persist, with firms lowering their prices again amid ongoing efforts to grow sales. A knock-on effect of this was a further squeeze on profitability, which in turn encouraged the advancement of productivity and more job losses.”
So no bed or roses by any means....still a good idea to read what is said before dishing a whole profession or two!!
recording the strongest expansion... for just over five years
However, in the previous 5 years it's been set back about 200 years thanks to the Troika of banks enforcing faith based economics upon them.
What was the "faith" bit. A fixed currency without proper monetary and fiscal coordination? Or have faith in a system where to evasion and corruption are rife? Or a variety of other factors?
Still the current "faith" of adjust by thrashing your youth is hardly any better!
Evasion and corruption? Rife? WHAT?!!!! In a totally democratically unaccountable, and wilfully opaque political system, fuelled by cronyism, and awash with billions of taxpayers cash?
Surely not?!! 😆
What was the "faith" bit.
The belief that punitive cuts will someone miraculously create growth if only they keep cutting enough...
AIUI the recent growth has been partly caused by a Keynesian investment in infrastructure products by the EU (sure I read that somewhere last week).
[url= http://www.bbc.co.uk/news/world-europe-26014387 ]Not Rife but 'breathtaking' [/url]
Footflaps - I will agree with you there. But will take a different perspective to the OP. The economics and financial maths on that were clear, but then the politics and subterfuge of the €zone got in the way.
The troika proposals could only ever end one way. And the pain is evident for all to see.
[quote=towzer ]Not Rife but 'breathtaking'
Well you'd expect the European Commission to somewhat play it down!
some things in greece are looking good