Friday, January 11, 2013

11/1/2013: Greek Tax Revenues: Bad to Worse aka 2009-2012

And if scary charts from Ireland are not enough for you when it comes to Friday Horror Pics diet, here's one from Greece, via Fabrizio Goria ( @FGoria ):

So things went from poor in 2009 to bad in 2012... but, hey, the worst is over for the euro...


gregory pym said...

Dear Constantine, love your blog ,Could you explain in a post how it makes sense to sell BOI bonds that were earning ireland 77 million euro a year for a once off profit of 10 million !!!

Regards greg pym

Dr. Constantin Gurdgiev said...

May be someone with a CFA can explain this one. Given the conditions in the market, these bonds should be trading at a premium. 10mln seems to be a low premium to me, but do keep in mind - these are convertible bonds, so higher risk.