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...


Unknown 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

TrueEconomics 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.