Greece Is Saved!

Well, er, except for the ah minor detail of all the assumptions their “recovery” is based on keep getting revised downward

(Reuters) – Greece’s gross domestic product (GDP) contracted by 7.5 percent year-on-year in the fourth quarter of 2011, the country’s statistics office said on Friday based on seasonally unadjusted provisional estimates.

The contraction, which followed a 5.0 percent GDP decline in the previous quarter, was deeper than a previous Feb. flash estimate of -7.0 percent.

Funny how the economic numbers from flailing leftist governments always seem to be “revised” downward, isn’t it?

categories Biz, Nanny State, Politics | | datetime March 9, 2012 8:01 am

2 Responses to “Greece Is Saved!”

  1. aelfheld says:
    March 9, 2012 at 10:49 am

    I’m surprised Greece has a GDP. What do they produce besides overpaid bureaucrats and riots?

  2. JeffS says:
    March 9, 2012 at 11:20 am

    Socialism is a boat anchor, so downward trends are a feature, not a bug.

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