Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact

Symbol Name
Click for Symbol Help

Greek Failure On Bailout Talks Means Euro Exit-Spokesman

Wall Street Journal - Jan 3, 2012

The Greek government said Tuesday that Greece must successfully complete negotiations with its creditors on a second bailout package to remain in the euro zone, adding to the stakes as officials prepare for new talks with the European Union and the International Monetary Fund this month.

European leaders and the IMF agreed in late October to EUR130 billion in fresh aid for Athens, which secured a first bailout worth EUR110 billion in May 2010. Many details of the second deal remain unsettled, particularly a provision calling on Greece's creditor banks to write down a significant portion of their Greek government bond holdings.

"This second loan agreement must be signed otherwise we are out of the markets, out of the euro," government spokesman Pantelis Kapsis told privately owned television station Skai.

His comments reflected the gravity with which the caretaker government is viewing the next few weeks. Greek officials have avoided raising the possibility of Greece departing the euro zone and returning to its own currency, a process that could cripple the Greek economy and its financial system.

Read Full Article from Wall Street Journal

- Posted: 2012-01-03 12:40:41

 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008

Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise