I have been watching what is unfolding in Greece and I can’t help feeling a certain level of fear that this could also happen in Kenya in the not so far future if the government does not control its appetite for debt and spending.
Mark you, Greece is a developed country and I do not understand how it can not raise Euro 1.7b approx- Ksh 250 b, is it a deliberate move so as to get out of the EU?

Anyway nothing puzzles God as Mutale (weekend of carousal) would aptly say

Missing Tuesday’s payment won’t necessarily put Greece in default with the I.M.F. The fund, if it follows tradition in such matters, could buy time by simply declaring Greece to be in arrears.
Missing the payment, though, could make it even more difficult for the European Central Bank to continue extending emergency loans to Greek banks. The central bank is allowed to finance only solvent banks. Because Greece’s banks and the government are tightly linked, it would be hard to consider Greek banks solvent when their government is not paying its bills.

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From my understanding the ECB has already stopped lending to the Greek commercial bank leading to their temporary closure. There is also talk that when they re-open daily withdrawals will be limited to a max of Euro 60 per day.

niulize, huyo ndiye Socrates akifundisha kwa kuuliza wanafunzi wake maswali kwa hiyo cartoon?

Inakaa kama kina Gachoka wakichoma noti baada ya kuuza shamba na euro-bonds za hosting olympics

The euro is trading at 110 to kshs. So that amount you quoted is wrong inafaa kuwa about 190 billion kshs. Greece walijikaanga by offering a lot of benefits to public sector workers halafu that 2004 Athens Olympics increased the government’s debt substantially. It is sad but bado utapata Waafrika wengine stupid wanadrown kwa Mediterranean trying to reach there.

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What ati wameshindwa kulipa only 250 billion Kenya Shillings, na saa hizo sisi tushakusanya 1 trillion kenya shillings, bado hatujaweka:
Approx. 120 billion kes - tax evaded
Approx. 150 million p.m. - capital gains tax - took effect May 2015
Real Estate - 20000 large property owners to start paying tax from next month - huge money
Si tuswap na greece waone tukuwalimia

It’s not as easy as it looks. Halafu, the amount they owe is less than 200 billion shillings by current rates.

This has been due to poor economic and political policies. Hata sisi we are not far away from such a scenario especially, after we factor in the rampant corruption that is currently going on. Huu ni msiba wa kujitakia.

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Corruption gani… We are safe and all factors considered all the debt that the Kenyan government is in are for infrastructure development unlike Greece where it’s for bailing the government…

But the Greek government got in debt building infrastructure to host olympics

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What an uncanny resemblance of circumstances

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Most of those olympic facilities are crumbling despite the fact they cost millions to build.

Beach Volleyball arena
Softball stadium

2004 Olympic Village


Greece once ruled the world…it was once regarded as the center of the world.change is certain…right now its facing extinction…nothing lasts forever.

Thats just an instalment not total of what they owe

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every empire has a life cycle that ends in death never rebirth: Greece Egypt Rome Britain etc

Add a couple of dog carcases, vodka and a bear being ridden (rider is shirtless btw) and that could be Sochi. I swear Europe is reading from the same handbook on how to fuck up their money!

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The EU member countries seem to be experiencing a lot of challenges. Some countries in the region might quit the union in the near future.