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If the Greeks were to fully exploit the natural resources that are literally right under their feet, they would no longer have any debt problems.
Fortunately, this recent economic crisis has spurred them to action and it is now being projected that Greece will be the number one gold producer in Europe by 2016.
Reportedly, Greece is sitting on hundreds of millions of barrels of oil and gigantic natural gas deposits that are worth trillions of dollars.
Gold mining is gathering momentum after Greece began what it called a “fast-track” approvals program. The Canadian and Australian companies said their projects will add about 425,000 ounces by 2016, worth $757 million at the Oct. 5 spot price, to the 16,000 ounces the country produced in 2011.
Greece is set to overtake Finland as the continent’s largest gold producer within four years, as regulators in Athens sign off on mines kept on hold for more than a decade by red tape and environmental rules
Early estimates suggest that the Gulf of Patra may have 200 million barrels of crude oil, and that there are another 80 million at Ioannina and nearly 3 million off the coast of Katokolo.
Furthermore, according to the United States Geological Survey, in the sea between Crete, Cyprus, Israel and Egypt, there are about 15 trillion cubic meters of natural gas and oil just waiting to be extracted.
€10,320,106,100,000: that is the total amount owed by the 27 governments of the European Union.
www.guardian.co.uk...
425,000 ounces by 2016, worth $757 million
Originally posted by retirednature
Greece's debt:
€10,320,106,100,000: that is the total amount owed by the 27 governments of the European Union.
www.guardian.co.uk...
Originally posted by ArMaP
Originally posted by retirednature
Greece's debt:
€10,320,106,100,000: that is the total amount owed by the 27 governments of the European Union.
www.guardian.co.uk...
No, that's not Greece's debt, as you posted, that's the "total amount owed by the 27 governments of the European Union", Greece's debt is (was) 347,204,000,000 Euros.
Maybe that's why gold has had that sharp rise in price some months ago...
Originally posted by retirednature
Would you mind providing a link, that supports the number you presented?