Greece is practically on the verge of collapse as protests are taking place in Athens and the government doesn't seem to have enough viable solutions to save the country from debt. People are becoming more and more restless as the austerity measures are getting harsher and harsher yet the results fail to present themselves.
The financial plan that can save this country from disaster seems to be missing just yet. For example, the yields of the Greek bonds have reached the peak of 16,8% and this means that more than twice since last year. If the markets are pulling away from the country this would mean that Greece will definitely not come out of this financial turmoil as fast as everyone would want.
One plan to raise about 50 million Euros in order to relieve some of the burden that has taken over Greece is to start selling the national assets such as the telephone company, the post offices and even the ports. However, it seems that these are not owned entirely by the state therefore selling them would be practically impossible. There are some other flaws in this plan also such as the fact that there is no guarantee that someone will come up with this kind of money and also such complex sales cannot be done overnight. But even so, it will be actually impossible to fill the gap with these sales before 2012. As it seems there is no European Leader that is looking to cut anything from Greece's debt and also the European Central Bank has made it more than clear that this will not happen.
One thing that Greece can do in order to salvage itself from the disastrous situation is to "reprofile" its creditors. This means that they should accept to extend the maturity of their bond and so save about 20 to 25 %. However, this move alone will definitely not save Greece from its worries. Moreover, the economists say that this type of "soft restructuring" will mean that more ratings are going to be cut.
Another thing that might prove to be very helpful is the implementation of the Vienna initiative. In the simplest of terms this would actually mean that the creditors will simply roll over when the country will fail to pay. This way Greece will have the time to overcome its financial situation, the ratings will stop falling and also the ECB will be satisfied. So, if you are looking for ways to save your wealth then you should start buying gold.
The financial plan that can save this country from disaster seems to be missing just yet. For example, the yields of the Greek bonds have reached the peak of 16,8% and this means that more than twice since last year. If the markets are pulling away from the country this would mean that Greece will definitely not come out of this financial turmoil as fast as everyone would want.
One plan to raise about 50 million Euros in order to relieve some of the burden that has taken over Greece is to start selling the national assets such as the telephone company, the post offices and even the ports. However, it seems that these are not owned entirely by the state therefore selling them would be practically impossible. There are some other flaws in this plan also such as the fact that there is no guarantee that someone will come up with this kind of money and also such complex sales cannot be done overnight. But even so, it will be actually impossible to fill the gap with these sales before 2012. As it seems there is no European Leader that is looking to cut anything from Greece's debt and also the European Central Bank has made it more than clear that this will not happen.
One thing that Greece can do in order to salvage itself from the disastrous situation is to "reprofile" its creditors. This means that they should accept to extend the maturity of their bond and so save about 20 to 25 %. However, this move alone will definitely not save Greece from its worries. Moreover, the economists say that this type of "soft restructuring" will mean that more ratings are going to be cut.
Another thing that might prove to be very helpful is the implementation of the Vienna initiative. In the simplest of terms this would actually mean that the creditors will simply roll over when the country will fail to pay. This way Greece will have the time to overcome its financial situation, the ratings will stop falling and also the ECB will be satisfied. So, if you are looking for ways to save your wealth then you should start buying gold.
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