Wednesday, February 10, 2010

France, Germany Weigh Rescue Plan for Greece

This article goes over the possibility of the EU (mainly France and Germany) lending a hand to Greece in-order to repay some of their national debt. Greece's debt last year was around 13% of GDP and the S&P down graded their credit rating in December and world markets have been in a frenzy over concerns about the countries debt. It would be interesting to see the reaction from countries outside of the EU if Greece is bailed out and whether or not a one-time bailout for Greece would be enough. The article mentions that there was public outrage from the announcement of cuts in government spending (on public service wages).

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