'Greece Requests IMF Talks' . . and the domino loan

Discussion in 'Economics' started by Wallace, Apr 15, 2010.

    "ATHENS—Greece on Thursday appeared to be taking another step toward
    the first sovereign bailout in the history of the euro zone, amid growing doubts
    that the country could continue raising money on financial markets.
    In a letter to European and International Monetary Fund officials, Finance
    Minister George Papaconstantinou asked that formal "discussions" on an aid
    package begin, in the event Greece would need to avail itself of that aid.
    "Greek authorities are requesting discussions with the European
    Commission, the (European Central Bank) and the IMF on a multiyear
    program of economic policies... that could be supported with financial
    assistance from the euro-area member states and the IMF, if the Greek
    authorities were to decide to request such assistance," the letter said." more:

    the Greeks China bond tour was cancelled last week and it looks like the
    same could happen to their US tour - no interest in what's on offer

    and, would last Sunday's proposed Euro members' loan turn out to be a
    domino loan that tips Portugal, Spain, Italy, UK past their debt limits ?