Welcome To Austerity Measures
Thank you for accessing the Austerity Measures website.
We are committed to providing you with an optimal combination of austerity measures which you can successfully implement in your market. We have been actively studying the global market dynamics and the economic and financial trend over the years, in order to generate best possible solutions for our clients to avoid any uncertainties or insolvency.
Your support and feedback would be highly appreciated.
Business Strategy Planning
We are here to help your business create the right strategy for success. It will focus on finding the right direction of your organization and set goals of the company and employees. The consultants of Austerity Measures can guide you with a clear strategic approach, supporting client- management with visions and concepts, executing analysis and stimulating discussions.
Business Marketing Issues
Marketing is the key for business success. It is where the clients are informed about the products or services that they can avail and the place that is convenient to them for a price they are willing to pay. We can help you convert the best marketing ideas into strategies, and strategies into action.
Business Organization Consulting
Any company consists of different department that work together as a whole team. Each department contributes to the success of the company’s global market. The consultants of Austerity Measures can analyze the company methods and develop solutions to run them more proficiently and effectively.
Business Financial Consulting
Financial analysis is the basis and the yardstick for measuring the business success or failure. Austerity Measures can offer’s analysis, evaluating investment plans, acquisition discussions and optimizing the capital structure.
Meet James Downing
James Downing holds the doctorate degree in the International economics and finance and an honorary degree in legal affairs by the University of Finland. He has a diversified experience in both the private and public companies for over 35 years. Besides working in the Economic and Legal affairs, he holds various training, workshops, and seminars on different topics across the world. He has received many awards and certificates in recognition for his services in the financial and economic sector.
Aftermath of the Greek Financial Crisis
In some nondescript street in the middle of Athens, two siblings are hard at work. For the past 12 months, they have run their hairdressing enterprise- a business that was once located in a prime location in the city. Their move to the newer, smaller location was purely financial: In the summer of 2015 as it became clear that Greeks faced more austerity measures to foot the bill in order to save their country from economic ruin, they realized that their business was likely to go bust if they continued operating legally.
The siblings did their math and understood that staying put in their fancier location made no sense at all. If they avoided tax, social security contributions, and failed to provide customers with receipts, they would just about make ends meet. And they are far from being the only ones.
Aftermath of the Greek Financial Crisis
1. Survivalist techniques
A year on after debt-stricken Greece received €86bn- its third financial rescue from international funding- the foregoing survival techniques have become even more common. For a middle class that has been eviscerated by endless rounds of tax rises and cuts (the price that Greeks have to pay to avert bankruptcy), the draconian conditions which are attached to the latest bailout are cited by Greeks who are now reneging on energy bills, property taxes, and loan repayments. Measures ranging from indirect duties- slapped on fuel, beer, and almost everything you can imagine, the overhaul of the pension system, and a controversial increase in VAT are invariably invoked in their defense.
Also, since the crisis began, close to half a million Greeks have migrated, largely in part to the searing effects of unemployment (currently at 24% and the highest across Europe) and coupled with an economy that has shed close to a third of its total output since 2010. Greek has been assigned over €320bn in bailout loans since 2010- undoubtedly, the largest rescue program in financial history- yet the fear remains that it is locked in an economic death spiral as evidenced by falling exports and consumption of 7.2% and 6.4% respectively in the 2nd quarter of 2016. The depth and duration of this recession is such that the World Bank now equates it to the slump experienced by eastern European countries in the early 1990s.
3. Rise of anti-EU sentiment
In October 2015, shortly after the 3rd bailout two months earlier (August 14), 70% of Greeks thought it better for the country to remain in the EU. Fast forward to July 2016 and those backing to remain in the single currency had dropped to 50%. Real recovery can only be achieved if the country’s staggering debt is reduced. Without debt relief, global financial institutions such as the International Monetary Fund (IMF) – which was not involved in the latest rescue- believes that interest payments on the growing pile should account for over 60% of the budget by 2060. In fact, in a candid assessment of its own role in the crisis, the IMF’s internal watchdog recently admitted to numerous mistakes, including the failure to foretell the recessionary impact of austerity measures on an economy curtailed by vested interests and corruption.
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