For John, BLUF: Greece is in tough economic straits. Nothing to see here; just move along.
From The Gates of Vienna comes a link to this headline from the ANSA Med web site, "Crisis: thousand more Greeks unregister their cars". The lede:
Thousands more Greeks have unregistered their cars as the New Year draws near, GreekReporter website writes, because they could no longer afford to pay a motor vehicle tax with their earnings having shrunk tangibly amid austerity.We are talking from several hundred Euros to up to 1,000€ for a luxury car.♠
The article suggests that 70,000 have deregistered their cars in anticipation of 2014 and then notes that car dealers estimate that since 2009 some 1 million vehicles have been deregistered and auto sales are off 40% so far this year.
When you get your national books out of whack and you are looking for a bailout the creditors can be tough. I had not realized how tough.
Regards — Cliff
♠ Friday the exchange rate was 1€ to $1.3768.
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