Wall Street Journal
June 20, 2011
Bonds issued by highly indebted euro-zone countries fell Monday as investors nervously turned their attention to the political situation in Greece, ahead of a vote of confidence in the Greek government that is crucial to securing aid and averting a disorderly default.
Eurogroup leaders meeting over the weekend postponed giving Greece the next €12 billion ($17.17 billion) tranche of its bailout package until the parliament approves latest austerity measures, underscoring the importance of the vote of confidence that is scheduled to be completed Tuesday.
Opposition to the government's austerity drive has risen with protestors taking to the streets, and Prime Minister George Papandreou announced a cabinet reshuffle on Friday in an attempt to quell popular discontent.
"The politics surrounding the Greek rescue plan remains the overriding influence on interest rates for the days ahead," said Orlando Green, an interest rate strategist at Crédit Agricole.
More
No comments:
Post a Comment