The emperor

Therefore the Block has informed us on death of the Kaiser with a kind important and mysterious, but at the same time angry. Especially him has enraged that Rober named Wilhelm the emperor. I think, as under a cutting torch of a guillotine of Sen-Lu and Mr. de Germant would not tell differently. These two secular husbands, remain they in loneliness on a desert island where there is nobody to find out the good manners, would recognise each other on these traces of education, as the Latin scholars correctly quoting Vergil. Even under torture at Germans of Sen-Lu would not name "emperor Wilhelm" differently. And nevertheless this good form - a sign strong put, held down mind. The one who will not manage to dump them, remains only secular person. However, this graceful mediocrity should cause admiration - especially when it is combined with the concealed magnanimity and not expressed heroism, - if to compare it to vulgarity of the Block, the coward and the braggart at once which Sen-Lu shouted:« You could not tell simply - Wilhelm? That's it, you are afraid, you already here lay down before it prone. Our soldiers at the front will be good, they will lick bosham boots! You, staff, only also are able what to caracole in карусели52.

negative impact on the Greek economy

If we place ourselves in the short term, the biggest risk is exposure to private debt, said Christian Parisot, an economist and chief strategist of Aurel BGC. The implementation of an austerity plan would have a certain negative impact on the Greek economy. It would lead to a contraction of 3 to 4% of GDP, would increase the risk of default of households, less creditworthy than a State, and consequently the business. "

exposure of the Credit Agricultural

French institutions are more engaged in Greece, with claims that reach about 53 billion euros. The global exposure of the Credit Agricultural rises to nearly 30 billion euros. After Societe Generale on Wednesday, BNP Paribas has just released its quarterly results and at the same time its exposure to the debt of Greece. While it has reported net profit up 39.1% to 2.28 billion euros for the first quarter, BNP Paribas has introduced to date, exposure to the debt over the Greek French banks are high. It amounts to EUR 5 billion, plus EUR 3 billion of trade commitments on private companies of Greece. The bank said that the Greek private sector credit represents only 0.2% of total commitments of the group, while exposure to the debt of the Greek state still weighs just 0.4%.

bankruptcy

While no scenario is to be discarded in the country comeback. He avoided the "bankruptcy" in the words of the Greek prime minister. The country's debt reached 300 billion euros, or 115% of GDP and public deficit amounted to 14% of GDP in 2009. And Greece is reflected in the 83rd spot in competitiveness, as ranked by the World Economic Forum (WEF), behind Rwanda and the last European country. On Monday, George Panjandrum is to receive officials from the International Monetary Fund, the European Union and the Central Bank. They will discuss such unblock this December for a new loan tranche of 110 billion euros over three years granted by euro zone countries and the International Monetary Fund. Total: nine billion euros.

policy of austerity

The Greek prime minister also confirmed that he would continue his policy of austerity, despite the protests. However, he stressed that no further action will be taken, noting that only those "listed in the austerity measures adopted in accordance with the European Union and the International Monetary Fund. "While the economy is good, there is no need for further action." An optimism that reflects its confidence in the Greek deficit of 40% by the end of the year.

suspension of debt payments

And add that if suspension of debt payments, "it would then collapse to a potential and likely the banking system, and the loss by Greek families of their properties, it would be a tragedy," he added . Anyway, this is good news for euro zone countries and European banks, especially French, which are those on the Old contains most exposed to their Greek counterparts in height 75.172 billion dollars (57.41 billion euros). Greek debt restructuring would mean for example that the Hellenic Banks transferred their debts later. "(In this case), banks could again face a liquidity crisis. They could no longer fund the financial markets. New tensions are therefore likely to appear on bank stocks, said the Figaro.fr Philippe Dessertspoon, director of the Institute of High Finance.

debt restructuring

On the occasion of the inauguration of the Thessaloniki International Fair, the Greek Prime Minister George Panjandrum said that debt restructuring would be "catastrophic for the economy." Faced with 20,000 demonstrators from Saturday to challenge his austerity policy, George Pandemonium, Greek prime minister, has remained firm in its position: further austerity and strict refusal to restructure its debt. "The logic of the debt restructuring would be catastrophic for the economy, for our credibility, our future," Polyandrous stressed Sunday during a press conference in Thessaloniki (northern Greece), after announcing Saturday the main lines of economic policy for 2011.