- Greek Rescue Could Happen Over Weekend: UBS
- Fitch Cuts Greece 2 Notches; Says Outlook Negative
- Greece Needs Concessionary Rates: Soros
- Greece Will Not Seek Aid
- Rescue Make Matters Worse?
- Italy Not the Same as Greece: Trichet
- Greek Banks Rebound After Selloff
EU Agrees on Greek Rescue
SUBHEAD: Greece's opportunity to reset Western Civilization - Again.
[Editor's note: The world looks to Greece to begin a new system again as it did 1000's of years ago. Greece should stand it's ground and not take EU money on IMF terms. Greece has a golden opportunity to make the Shift to a better system.]
Image above: Illustration of restored Acropolis in Athens.
From (https://pantherfile.uwm.edu/prec/www/course/mythology/0500/athena.htm)
By Staff on 9 April 2010 for Reuters -
(http://www.cnbc.com//id/36316749)
"EU Agrees on Greek Rescue Terms, Fitch Downgrades"
Euro zone officials agreed on Friday on the terms of a possible financial rescue for Greece as a credit ratings agency downgraded Athens' debt by two notches citing a worsening economy and rising borrowing costs.
Deputy finance ministers and central bankers of the 16 countries sharing the European single currency decided that any emergency loans would be made on terms almost identical to standard IMF bailouts if Greece needed them, an EU source said.
"A deal has been reached," the source with close knowledge of the discussions told Reuters. "It is almost a carbon copy of International Monetary Fund terms."
But the news brought only momentary relief on credit markets because Fitch Ratings cut Greece's credit rating to BBB- and signaled further downgrades are possible, citing intensifying fiscal challenges in the debt-plagued country.
New figures published on Friday highlighted a deepening recession that will further aggravate those problems as the government continued to resist market pressure to seek outside help with its debt crisis.
No comments :
Post a Comment