This article provides a detailed analysis about the situation of Greece. It is said that Greece’s announcement of resorting to the European zone and IMF--- its dependence on emergency aid is only a temporary relief. And the Greek bonds have reached an alarming 8.9% a week before, which in part revealed that the Greece’s budget deficit reached 13.6% of GDP in 2009, even worse than it had predicted. What is worse, according to the previous prediction, an aid of €45 billion from other European countries and IMF will be available to Greece and it would enough to finance Greece’s budget deficit for the rest of this year and repay its maturing debts; however, according to the current situation, it seems that Greece needs far more support than the amount mentioned above.
Furthermore, in this article, it provides the predictions both from optimistic perspective and pessimistic perspective. it also talks about what if Greece will make a default option.
No comments:
Post a Comment