Tuesday, October 4, 2011

Greece will not default - at least not until mid-November

Greece Has Cash to Meet Needs Until Mid-November, Finance Minister Says

Finance Minister Evangelos Venizelos said Greece has enough cash to operate until mid-November, after euro-region finance ministers delayed a decision on the nation’s next emergency-loan payment.
With cash needs covered until then, Greece has time to carry out reforms demanded in return for a new bailout plan, Venizelos told reporters in Athens today after returning from the ministers’ meeting in Luxembourg. The new package “will give a more radical and more complete answer to our problems,”Venizelos said.

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