(KUNA) -- The President of the European Parliament (EP) Jerzy Buzek Thursday urged the Greeks to "show patience, understanding and strength." "The current reforms are likely to be a turning-point. The choice is between a possible economic and political collapse and a slow return to the normality of growth and sustainable debt levels," he said in a speech to the summit of EU leaders here tonight.
Buzek said he welcomes the announcement by the President of the European Commission Jose Manuel Barroso of fast tracking 1 billion euro through structural funds to help with the immediate unemployment crisis in Greece.
The Greek debt crisis is dominating the 2-day summit of EU leaders which kicked off here tonight.
The Greek parliament is expected to vote next Tuesday on a new package of austerity measures in order to get the next installment of 12 billion euro from a 110 billion euro bailout it received from the EU and the IMF last year to save the country from bankruptcy.
The EU is now contemplating to give a second loan to Greece amid warnings by economists that the country which has a huge public debt of 340 billion euro is heading for a default.
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06/24/2011 00:00 ||
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#1
GREECE + SIMILAR TROUBLED EUROS ...
versus
* PEOPLE'S DAILY FORUM > SINO-US CRASH WILL BRING [entire] ASIA-PACIFIC REGION INTO TOTAL MESS.
Yeeeuuuppp, + "PEAK OIL/RESOURCES" + SOLAR STORMS + COMET APOPHIS, etc. don't necessarily have to have anything to do wid it.
OWG, "Globalism", + PRO-US-VS-ANTI-US NWO will suffuce by itself.
ARTIC > Greece's debt = 150% of its GDP; It is more correct to ascribe Greece's sovereign debt probs as linked to perennial, massive Internal or Govt corruption scandal than anything else, for which ordinary Greeks are now paying the price???
* SAME > US [+ various EU States] IN EVEN WORSE FINANCIAL SHAPE THAN GREECE: GROSS.
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