Saturday, 18th June 2011
An imminent financial crisis emanating from Greece seems to have been averted, for now at least.
The International Monetary Fund has agreed to release a 12 billion euro loan to Greece as planned at the end of this month even if Greece has not secured the 120 billion euro loan it?s seeking from the European Central Bank.
Markets have heaved a temporary sigh of relief. Access to this money was a sticking point that could have left Greece with just six days of cash to pay the bills.
The opinion is that the Eurozone will continue propping up its weak nations and then sort it all out in 2013.
heading back in the red, page-8
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