Greek Prime Minister Antonis Samaras says he needs more time to repair the financial and economic damage done to his country, or by his countrymen, over the years since the recession began. For some reason, be believes that time will help reverse the nation’s GDP plunge, which shows no sign of ending, or a 20% plus unemployment rate, which will not change because businesses in Greece cannot afford to hire workers. Samaras told Germany’s Bild newspaper, according to Reuters:
All we want is a little more air to breathe to get the economy going and increase government revenue. More time doesn’t necessarily mean more money.
What economist believes that without stimulus and a postponement of austerity that Greece has any chance to recover? Either action takes money, in the form of dollars invested in the economy or in larger deficits that will need to be funded in later years. Samaras meets with Angela Merkel this week. The German leader has become increasingly frustrated with the progress in Greece. The “more time, but not more money” argument will not wash with her.
Douglas A. McIntyre
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.