Feb. 11 (Bloomberg) -- Euro-region leaders ordered Greece to get the bloc’s highest budget deficit under control and said they are prepared to take “determined” action to staunch the worst crisis in the currency’s 11-year history.
Greek bonds rose after officials including German Chancellor Angela Merkel, Greek Prime Minister George Papandreou, and European Central Bank President Jean-Claude Trichet brokered the deal before a European Union summit in Brussels. The euro was little changed at $1.3717.
“Euro area member states will take determined and coordinated action if needed to safeguard financial stability in the euro area as a whole,” President Herman Van Rompuy told reporters. “We fully support the efforts of the Greek government and their commitment to do whatever is necessary including adopting additional measures.”--
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Comment: Well, as of now, Greece is saved, but the saviors themselves may soon need a bailout. Who's gone save the fat swines, Germany or France? Soon, California, too, will be in need to be saved, but who will bail out the US?
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