Greece and the reality of the Tsunami

It seems that the financial earthquake that hit Greece still hides its
real teeth until this moment, the Greek budget deficit represents 12.7%
of the gross domestic product and this was the truth that shook the
Greek economy, the government, and the former government claims that
the deficit does not exceed 3.7%.According to the Washington Post in an
investigation underway to find out the details of the earthquake that
Goldman bank Sachs behind the financial storm in Greece, The bank as
stated in the Washington Post hiding some of the financial transactions
for the Greek Government, when the new government take the power in
Athena they found that the budget defect more than Numbers recognized
by the previous government, This was because of such transactions
calculated on the basis that it deals, currency, and are not loans.

Greece now stands in front of very large problems and try to search for
solutions to get out of this storm, Where the Greek government has
identified five banks to issue government bonds for a period of ten
years to collect loans worth $ 6.8 billion the total debt of Greece
more than $ 400 billion, and therefore they need to borrow U.S. $ 72.43
billion this year to cover the deficit in its budget , this solution is
not successful and will not benefit Greece to get out from the storm ,
it will increase the debt of Greek more and more .Greece now need the
support of the European Union to lend at low interest rates, which
dropped personally will not accept the European Union to lend to Greece
with low interest rates, let alone that the Spanish and the Portuguese
economy may flow the storm soon the both country facing the same
problem and soon we will listen about that .

Greek government now have just one solution which is painful, sale of
some assets government buildings, businesses and some islands, to pay
debts, This storm, which hit Greece shook all corners of the European
Union, the European Union currency fell during the trading this week to
the lowest price since May 18, 2009 at 1.3435.The Greek government will
not come out of this crisis without selling off its assets and this is
the only solution to the government. This leads us to believe that
there are some parties that stand behind this hurricane to get the
benefits from this problem. But the most important question that is
going on in my head is, who is this hidden hand behind this crisis?

 Senior Analyst / Ali Hasan /FXCBS

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