Wednesday, October 13, 2010

And You Thought the Greek Financial Crisis Was Over

Certainly a lot of the media has stopped paying attention. (Trapped miners are much more interesting news, even though that story doesn't impact you in any way save emotionally.) Germany Opposes Extending Greek Repayment Schedule - BusinessWeek

It seems Greece doesn't want to live up to the commitments it made oh so very recently when it got bailed out by the EU. (Mostly by Germany.)
Germany moved to stifle suggestions that Greece could get more time to repay a bailout from the European Union and International Monetary Fund.

“We are not in favor of extending the repayments schedule” for Greece, German Finance Ministry spokesman Bertrand Benoit said in a telephone interview today. Any such move would be “premature,” he said.
This isn't over yet, and Greece is only the first act. Spain, Portugal, Italy and Ireland are waiting in the wings. And Britain isn't in great shape either - though it isn't part of the Euro-zone.

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