Sunday, May. 20, 2012 |
Greek deal prospects rise, euro ministers to meet
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Prospects of a deal on a second international bailout for Greece rose on Wednesday when euro zone finance ministers were summoned to talks in Brussels while Greek political leaders met to approve a tough reform and austerity programme.
Eurogroup chairman Jean-Claude Juncker invited ministers from the 17-nation single currency area to meet on Thursday evening and the International Monetary Fund said managing director Christine Lagarde would also attend.
They are expected to examine a complex package involving a 130 billion euro EU/IMF rescue and a bond swap with private creditors, which hinges on Athens accepting conditions that require big cuts in many Greeks' living standards.
Juncker went ahead and called the meeting even though leaders of the three Greek coalition parties were still discussing with Prime Minister Lucas Papademos the terms of a rescue package to avoid a chaotic default in March that would send wider tremors around the world economy.
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Comments
Bite the bullet
February 8, 2012 by Jim Adams ( ), 14 weeks 4 days ago
Bite the bullet and turn the EU down. It's just too much to go through all the painful measures with no light at the end of the tunnel. Europe has failed - and has failed big!
Turn them down already!
February 9, 2012 by John Gurlides (United Kingdom ), 14 weeks 3 days ago
I think that's the direction we're heading in. Yesterday, a Greek MP said "between bankruptcy and national humiliation, we will choose the former".
This whole situation was unnecessary, created by Franco-German half-heartedness to help and their inability to help in a constructive manner.
That Greek MP probably has a
February 15, 2012 by Chris (United Kingdom ), 13 weeks 4 days ago
That Greek MP probably has a nice sum of money in an off-shore account and won't be starving to death or losing a relative to a standard run of the mill virus that the under-funded hospitals won't be able to deal with. Go and ask the starving people in Africa whether they prefer starvation or humiliation? I'll take the humiliation thanks