Monday, May 3, 2010

Still Waiting

Here we are still waiting on the bazooka from the EU and IMF, looks like the final hurdle is Germany. See, sometimes there is no solution or more like any solution you want to hear. If this doesn't go through by next Monday it could get pretty ugly, either way it's going to get ugly.
Greece Gets $146 Billion Rescue in EU, IMF Package

The first payment will be made before Greece’s next bond redemption on May 19, said Jean-Claude Juncker after chairing a meeting of euro-region finance ministers in Brussels yesterday. The 16-nation bloc will pay 80 billion euros at a rate of around 5 percent and the International Monetary Fund contributes the rest. Greece agreed to budget measures worth 13 percent of gross domestic product.

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