|
45 billion Euros 'Not enough to rescue Greece'
Even 45B Euros will just delay the inevitable. There is no point in the future when Greece's debt stops growing. It's merely a matter of how fast it grows and how soon they default. And over the last week the finacial markets seem to have woken up to this fact. Greece is now paying as much to borrow as that paragon of fiscal and political stability, Pakistan.Talks over Greece dominated annual International Monetary Fund and World Bank meetings, a day after Athens bowed to market pressure and asked to tap a rescue package from the European Union and the IMF. "Some countries think it's not enough," Canadian Finance Minister Jim Flaherty told reporters when asked about the amount of aid being negotiated. "Some of the G20 countries, including some of the European countries," he said when asked which countries were concerned. "There is concern about making sure that the package is enough so that it's a one-time event." Flaherty said Group of 20 rich and emerging nations agreed that the Greece crisis could be contained, if dealt with quickly, with little risk of a spread across Europe. Posted by: phil_b 2010-04-25 |
| http://www.rantburg.com/poparticle.php?ID=295341 |