In the exercise by the Government to address bankruptcy, according to today's newspaper "Republic".
The full article reads as follows: Rehearsal for the possible bankruptcy of the country in March did the government! According to exclusive information of 'democracy', the simulation of bankruptcy held down by the payment of public wages and pensions with special coupons instead of cash. Specifically, according to reliable information, senior finance ministry have gone to the simulation exercise by the end of last November.This exercise provides that, due to cash flow problems created by the government to stop funding the country from its lenders, 50% of salaries and pensions will be paid normally in euros and 50% in special coupons, ie a new form of money. The coupons will be used by civil servants and pensioners to repay debts or obligations to the State and be accepted in dealing with tax authorities and pension funds. In other words, people can the vouchers to pay tax or social obligations, such as the hike in property, the monthly contributions to pension funds, etc. In fact, not allowed to exchange coupons with money, so that no black market for money.
Already the results of the exercise has been updated in the Ministries of Labour and Administrative Reform, which in turn have taken care to inform staffers according to pension funds and tax authorities. It has also been informed in detail on the findings of the exercise by the Troika, through technical cadres in almost daily at the Treasury. It is typical that officials of the IKA, who recently participated in training seminars at the National School of Administration, stated fully aware of the issue and prepared to use coupons instead of money.
Of course, it is clarified that the coupons that are found in the hands of workers and pensioners of the government should not be diverted to cover basic needs, but only for transactions with the state. For example, a pensioner may be in possession of this coupon to pay for this hike the extraordinary solidarity levy or special levy property. You may say, to pay electricity bills and water as well can pay off debts to pension funds.
Results from the simulation exercise that was not satisfied, however, left the leadership of the Ministry of Finance and the more Prime Lucas Papademos. The risk of causing chaos, since people under even controlled bankruptcy will come across the unprecedented process to cover other needs in euros and other vouchers, is more than real. Also, such an eventuality, the hit would suffer the same currency is extremely heavy, and will be fatally wounded the prestige of the robust and hard euro.
The rehearsal is the bankruptcy practice conditions controlled bankruptcy, which will take shape, although there is no money to repay bonds that expire next March. These bonds, totaling about 15 billion, making it critical and crucial that month for the entire course of the Greek economy and to avoid any bankruptcy or not.
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