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Greek PM warns of national bankruptcy
[Iran Press TV Latest] Greek officials say that the country is facing national bankruptcy as German banks reject reports that they may buy Athens' government bonds. On Friday, Greek Prime Minister George Papandreou said that no one is going to pay for Greece debts and that the country would go bankrupt if the government does not act fast. Meanwhile, German banks rejected an earlier report by Bloomberg that they are planning to buy Greek government bonds. The news comes after Athens delayed a major bond issue planned for this week after a general strike crippled the country. Greece has the highest public deficit in the eurozone and its fiscal crisis has dragged down the value of the euro. The European Union has put Greece under immense pressure to cut its deficit by over 75 percent. Posted by: Fred 2010-02-27 |
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