Reuters
June 1, 2011
The stakes keep rising in a multi-dimensional poker game over Greece's debt crisis, but none of the key stakeholders appears to have any interest in pushing Athens into default.
Reuters
Barring a political accident, a new EU/IMF bailout package for Athens -- barely a year after an initial 110 billion euro ($158 billion) rescue -- is likely to be agreed by the end of June, several officials involved in the negotiations say.
Financial markets seem to believe that and have begun to lower Greek bond yields slightly from stratospheric levels.
In some ways, the deal will be tougher on Greece than the last one; it will give creditors a supervisory role over the privatization of Greek state assets that will intrude on national sovereignty, officials say.
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