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Thread: Greek Election, EU future?

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  1. #20
    Join Date
    Sep 2007

    Default Re: Greek Election, EU future?

    Quote Originally Posted by jk View Post
    the greek central bank can print euros under the emergency liquidity authority!
    and wants a monopoly on gold trading:

    Bulletin of prices of gold bars and gold coins

    The Bank of Greece buys and sells gold and gold coins against Euro to individuals. For this purpose, the Bank publishes a bulletin which contains information about the prices at which the Bank of Greece concludes transactions in the following categories:

    • Gold
    • Sovereign: Fineness 0.9166 (7.940-7.988 gram.)
    • Sovereign: Underweight or Of Different Fineness
    • Coins

    Concerning the purchase of gold bars by the Bank of Greece, and following agreement on the price, the client has to present the bars to the Bank of Greece’s counter for genuineness’ and fineness’ control. The equivalent in Euros is paid to the client after completion of checking. In any case, the client is charged with the control expenses.

    The public is reminded that the purchase and sale of gold sovereigns, gold coins and international standard gold bullion in the form of bars, plates, ingots, etc. (i.e. gold other than industrial or commodity gold) may be legally carried out only through the Bank of Greece and credit institutions. Persons illegally engaging in such commercial activity will be prosecuted.

    __________________________________________________ ______________

    Interesting speech, actually a very good speech.

    Now, how can TPTB always manage to keep a straight face when they proclaim the necessity of facilitating the private business sector, while always doing the exact opposite? (e.g., private gold dealers who might want to compete with the privileged bankers will be prosecuted.)

    24/04/2012 - Speech by Bank of Greece Governor George A. Provopoulos at the 79th Annual Meeting of Shareholders


    . . .

    Recovery and growth through the mobilisation of the private business sector A strategy for recovery and growth is of utmost priority. Failure to tackle the recession could compromise our ability to meet the targets of fiscal consolidation. In the current context, growth requires the mobilisation of the private business sector; this cannot be achieved as long as the state continues to dominate the economy. Nor can it happen so long as the fiscal deficit and public debt are persistently high. Moreover, there cannot be growth so long as there is a climate of uncertainty and distrust exists about the prospects of the economy. The prerequisites for growth are therefore: • The restoration of confidence and the elimination of uncertainty; • the creation of an environment favouring entrepreneurship; • the transfer of resources from the bloated public sector to the production of goods and services by the private sector and – more generally – from the sector of non-tradable goods and services to that of the tradable.

    . . .
    Last edited by cobben; 05-10-12 at 03:17 AM.
    Justice is the cornerstone of the world

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