The Greek economy continues to stand on the edge of the cliff. Despite the EU-IMF’ s bailout, — the unprecedented austerity program of cutting wages and pensions implemented by the Greek government and a tough tax invasion pushing down the buying power and income of the middle class — the forecasts are still ominous for…

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Two of the “P.I.G.S.” group members, Spain and Portugal, seem to have a strong likelihood of avoiding any kind of European and IMF external funding assistance, through the same mechanism imposed in Greece and Ireland in exchange for the implementation of a tough austerity measures program. Contrarily, debt-ridden Spain and Portugal are likely going to…

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