In the current economic environment, we observe that:
- According to official data from the GEMI the first days of this year (up to 9/2) business cancelations were almost (4.954) more than twice of the new initials set up (2.303).
- The overall increase of the overdue debts to the State for 2015 reached 11.05 billion. Euro.
- The total overdue debts at the end of 2015 to the State reached 85 billion Euro compared to 73.7 billion at the end of 2014.
In essence we have a disinvestment which is leading to a decrease in disposable real income and as a consequence to insolvency.
In other words, we have not just entered into a new recession cycle but in a spin from which unfortunately we do not know if we will manage to get out before colliding into the ground.