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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 23 July 2012 [View all]xchrom
(108,903 posts)76. 'Acropolis Adieu, You've Got to Go!'
http://www.spiegel.de/international/europe/review-of-german-press-commentaries-on-greece-and-euro-crisis-a-845903.html
The euro fell to its lowest level in over two years, reaching $1.2081 on Monday, due to market fears of a Greek euro exit and calls by Spanish regions for financial aid that triggered speculation Spain may have to seek a full bailout.
Reports that the International Monetary Fund, Germany and other major lenders are not prepared to extend fresh aid to Greece on top of the second bailout package of 130 billion ($157 billion) agreed to earlier this year have sparked new speculation that the country where the euro crisis erupted in 2010 may have to declare bankruptcy this autumn and quit the euro.
The Greek government has asked lenders to soften the terms of the bailout and give it more time to implement reforms and budget cuts demanded of it. But that would probably require the injection of even more aid to Greece, which Germany and the IMF are reportedly no longer prepared to do.
German media commentators say a Greek bankruptcy is looking more likely and that despite all the mistakes made in Europe's crisis management over the last two years, Greece itself is to blame for its problems.
The euro fell to its lowest level in over two years, reaching $1.2081 on Monday, due to market fears of a Greek euro exit and calls by Spanish regions for financial aid that triggered speculation Spain may have to seek a full bailout.
Reports that the International Monetary Fund, Germany and other major lenders are not prepared to extend fresh aid to Greece on top of the second bailout package of 130 billion ($157 billion) agreed to earlier this year have sparked new speculation that the country where the euro crisis erupted in 2010 may have to declare bankruptcy this autumn and quit the euro.
The Greek government has asked lenders to soften the terms of the bailout and give it more time to implement reforms and budget cuts demanded of it. But that would probably require the injection of even more aid to Greece, which Germany and the IMF are reportedly no longer prepared to do.
German media commentators say a Greek bankruptcy is looking more likely and that despite all the mistakes made in Europe's crisis management over the last two years, Greece itself is to blame for its problems.
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The whole scam is just so massive. It's just mind boggling how complicit the richest criminals have
mother earth
Jul 2012
#9
These 12 Hellholes Are Examples Of What The Rest Of America Will Look Like Soon
Demeter
Jul 2012
#25
How Whole Regions of America Have Been Destroyed in the Name of Quarterly Profits
Demeter
Jul 2012
#50
I know some do not appreciate Taibbi, but who else tells it like it is? Looking forward to "more".
mother earth
Jul 2012
#11
I know, seems like RS & Vanity Fair have stepped up enormously. I love MattT.
mother earth
Jul 2012
#17
Holding Off Armageddon: The Libor Scandal In Full Perspective By Paul Craig Roberts
Demeter
Jul 2012
#8
Exclusive: Prosecutors, regulators close to making Libor arrests (REST THE CASE)
Demeter
Jul 2012
#14
Raining like mad in the markets, too. US Futures looking UG-LEE. Italy down 5%
Roland99
Jul 2012
#40