Infographic of the Day: The Debt Superhighway

[baronWastelan]

Summary Of Greek Reform "Pledges"
Submitted by Tyler Durden on 02/08/2012 - 14:49
default Germany Greece Gross Domestic Product
At this point everyone is so habituated to worthless updates from Greece that we are shocked Bloomberg even noticed. Either way, here is latest Greek headline tape bomb, via BBG, which looks at a leaked Troika draft report obtained by Bloomberg.

• TROIKA DRAFT GREEK ACCORD SAYS 2012 GDP TO SHRINK AS MUCH AS 5% - so make that 15%-25% realistically

• GREECE TO CUT MEDICINE SPENDING TO 1.5% OF GDP FROM 1.9% OF GDP - why not just "cull" 15-20% of the population?

• GREECE PLEDGES TO MERGE ALL AUXILIARY PENSION FUNDS - one problem - following the default, there will be no pension funds left.

• GREECE TO PLEDGE 20% CUT IN MINIMUM WAGE IN TROIKA DRAFT - and Greek citizens pledge to never work again.

• TROIKA DRAFT GREEK ACCORD RENEWS PLEDGE TO CUT 150,000 EMPLOYEE - or the US equivalent of nearly 5 million workers...

http://www.zerohedge.com/news/summar...reform-pledges