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Wednesday, 8 February 2012

Worryingly little progress on Greece, Deputy finance minister Thomas Steffen said

German tabloids are all over the place on this, but serious publishers like Bloomberg and Reuters are reserved.

Any leaks on true dire conditions of Greece may cause a collapse of the currency markets.

"I believe we can say today that we have made little progress on Greece since 2010, worryingly little progress," Steffen said.

Greek party leaders gathered on Wednesday to agree a reform deal in return for a new EU/IMF rescue to avoid a default, after repeated delays which have prompted warnings that the euro can live without Athens.

Steffen said Greek debt sustainability had not yet been achieved and that Greece's talks with private creditors over a debt swap deal remained difficult.

Alles kaput!

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