Greece is in the news due to its imminent insolvency (can something be “imminent” and yet drag on for many years?). There is talk of money that Greece is supposed to pay creditors but also talk about bailout funds that the IMF and other countries are supposed to be giving to the Greek government. But what is the cashflow in this heavily indebted country? Is the Greek government still spending more than they collect in tax revenue, in which case presumably there must be a net inflow of cash? (let’s assume that Greeks themselves are smart enough not to lend money to their own government) Or is the Greek government no longer engaging in deficit spending and therefore they are paying down their sovereign debt, but just not as fast as creditors were promised?<\/p>\n","protected":false},"excerpt":{"rendered":"
Greece is in the news due to its imminent insolvency (can something be “imminent” and yet drag on for many years?). There is talk of money that Greece […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-7914","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n