Greek Plan to Be Unveiled this Weekend

Discussion in 'Wall St. News' started by S2007S, Apr 30, 2010.

  1. S2007S


    More plans to come this weekend, at this point this news has become repetitive and pretty much a non event since everyone knows the bailout is coming noooo matter what. Remember there is no such thing as failure anymore.

    Greek Plan to Be Unveiled this Weekend:
    France Reuters | April 30, 2010 | 03:30 AM EDT France's market watchdog chief said on Friday
    he believed the plan to help Greece would be
    unveiled "tonight or over the weekend" and that
    Greece would not default on its debts. "What the markets are looking for is the plan,
    which will be presented tonight or over the
    weekend," Jean-Pierre Jouyet, chairman of
    French regulator AMF, told RMC Radio. "It will be done, it's almost completed. I have no
    doubt about that," he said. International Monetary Fund, European Union
    and European Central Bank officials are in
    Athens to negotiate the bailout and hope to
    wrap up a deal within days in an effort to avert
    the risk of a debt default in Greece that could
    sink other fragile EU economies. Jouyet said Greece would not default on its
    debts and that speculators would lose out. The situation in Portugal and Spain could not
    be compared to Greece, he added. German politicians have said the aid package
    could be worth 100-120 billion euros ($133-160
    billion) over three years, against an original
    plan for 45 billion euros of aid in 2010. Greece has readied severe austerity measures
    demanded as a condition for the aid, providing
    relief to financial markets but drawing threats
    from unions of a mighty battle to come. Union officials said the IMF asked Athens to
    raise sales taxes, scrap bonuses amounting to
    two extra months pay in the public sector, and
    accept a 3-year pay freeze.