Forum > View Topic
by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
through what?
whats happening here
someone please make sense of it
please summarise
its also on bloomberg today
"Finance Minister George Papaconstantinou told the legislature, where the ruling socialist Pasok party holds a 10- seat majority, that wage and pension cuts that have prompted protests are necessary to secure the package and avoid default.
In less than two weeks, a 9 billion-euro bond comes due and the state coffers dont have this money, he said. As we speak today the country cant borrow it from foreign markets and the only way to avoid bankruptcy and a halt on payments is to get this money from our European partners and the IMF.