Friday, January 15, 2010

Don`t Worry , Be Happy

Yesterday,(13.1.10) Moody`s said that Greece and Portugal face a "slow death" caused by "bleeding" from the rapidly escalating cost of servicing their huge government debts:
Greece - Public Spending 50% of GDP

Tax Receipts 40%
Portugal Public Spending 51%.
Tax Receipts 41%
OECD calculations of both countries' structural deficits suggests….public spending cuts in the range 10-15%.

UK- Public Spending 53% of GDP B
Tax receipts on 40% of GDP are
Structural Deficit 10% of GDP, (highest in OECD )
Interesting and balanced view from Mike Denham
here .

1 comment:

The Truth said...

Yuu don't sound well Newmania, you should get some rest.

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