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Moody’s, the ratings agency, had just lowered Greece’s credit rating to the level that turned all Greek government bonds into junk—and so no longer eligible to be owned by many of the investors who currently owned them.The resulting dumping of Greek bonds onto the market was, in the short term, no big deal, because the International Monetary Fund and the European Central Bank had between them agreed to lend Greece—a nation of about 11 million people, or two million fewer than Greater Los Angeles—up to 5 billion. In addition to its roughly 0 billion (and growing) of outstanding government debt, the Greek number crunchers had just figured out that their government owed another 0 billion or more in pensions.

This is, as it has alwys been, a very mysterious place. Looked more like sloppy, gooey wet mud in a jar than medicinal salve. page=Single&Resolution=320x240&Quality=Standard&Mode=JPEG&RPeriod=65535&Size=STD&Preset Operation=Move&Send Method=1&Language=14 which as you can see now is down.

,” the author heads for riot-stricken Athens, and for the mysterious Vatopaidi monastery, which brought down the last government, laying bare the country’s economic insanity.

But beyond a

This is, as it has alwys been, a very mysterious place. Looked more like sloppy, gooey wet mud in a jar than medicinal salve. page=Single&Resolution=320x240&Quality=Standard&Mode=JPEG&RPeriod=65535&Size=STD&Preset Operation=Move&Send Method=1&Language=14 which as you can see now is down.

,” the author heads for riot-stricken Athens, and for the mysterious Vatopaidi monastery, which brought down the last government, laying bare the country’s economic insanity.

But beyond a $1.2 trillion debt (roughly a quarter-million dollars for each working adult), there is a more frightening deficit.

The national railroad has annual revenues of 100 million euros against an annual wage bill of 400 million, plus 300 million euros in other expenses.

The average state railroad employee earns 65,000 euros a year.

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This is, as it has alwys been, a very mysterious place. Looked more like sloppy, gooey wet mud in a jar than medicinal salve. page=Single&Resolution=320x240&Quality=Standard&Mode=JPEG&RPeriod=65535&Size=STD&Preset Operation=Move&Send Method=1&Language=14 which as you can see now is down. ,” the author heads for riot-stricken Athens, and for the mysterious Vatopaidi monastery, which brought down the last government, laying bare the country’s economic insanity.But beyond a $1.2 trillion debt (roughly a quarter-million dollars for each working adult), there is a more frightening deficit.The national railroad has annual revenues of 100 million euros against an annual wage bill of 400 million, plus 300 million euros in other expenses.The average state railroad employee earns 65,000 euros a year.In the short term Greece had been removed from the free financial markets and become a ward of other states. Add it all up and you got about $1.2 trillion, or more than a quarter-million dollars for every working Greek.

.2 trillion debt (roughly a quarter-million dollars for each working adult), there is a more frightening deficit.

The national railroad has annual revenues of 100 million euros against an annual wage bill of 400 million, plus 300 million euros in other expenses.

The average state railroad employee earns 65,000 euros a year.