Beware Eurocrats bearing false gifts

I return to one of my favourite subjects, the probably most insolvent member of the European Union, Greece.

Apparently the EU has determined that Greece is over the worst and is ready to leave the European financial support programme.

The country is doing so well that Greece is to receive an extension of time to repay £85 billion of loans and will also have an extended period where no or little interest is paid on outstanding loans.

They also got another £15bn of new loans to help them on their way.

The economy is allegedly stabilised.

  • a)The national debt is estimated to be 180% of GDP, being £261bn
  • b)The IMF did not participate in this latest financing, surprise.
  • c)Tax evasion is estimated at between 6% and 9% of GDP, between £9bn and £13bn

Having reached this point Greece it has now been determined that it is ready to access international money markets.

Are they now going to borrow from someone else to pay back the EU?

You couldn’t make it up!

Back to all news
Get in touch
Thank you for your getting in touch with us, a member of our team will be in touch shortly.
Something went wrong while submitting the form, please get in touch with us using the phone number above to deal with your enquiry.
Operating nationwide throughout the UK

At Frost Group, we want to make things as easy as possible for you. That is why, if you can’t come to us, we’ll come to you. We operate face to face, nationwide meetings, wherever is most convenient for you.

Croydon

Airport House
Purley Way
Croydon CR0 0XZ

bromley

Regus, One Elmfield Park
Bromley
BR1 1LU

London

86-90 Paul Street
London
EC2A 4NE

Leicestershire

Court House, Old Police Station South Street, Ashby de la Zouch
LE65 1BR

Proud members of

Authorised by

Frost Group Limited is authorised by the Financial Conduct Authority. Authorisation number 669247.