?Greek Finance Minister Evangelos Venizelos speaks at a click conference among Athens, Greece, Feb. 21, 2012. Greeks greeted uneasily the news aboard Tuesday that their nation aspiration possible avoid defaulting aboard its debts then month. (Xinhua/Marios Lolos)
?
ATHENS, Feb. 21 (Xinhua) ? Greece dodged the nightmare scenario of a feasible default as early for subsequently month and was granted a second chance to tackle the debt emergency with the strong advocate of European counterparts, Finance Minister Evangelos Venizelos said aboard Tuesday.
?We averted a dream scenario,for Greece, the eurozone,?????? 2011, Europe and global economy,? he told a press summarizing surrounded Athens upon his return from Brussels.
Just a few hours antecedent euro crew had cleared a fresh 130-billion-euro (172.33 billion U.S.greenbacks emancipate loans archive as Greece combined with one over 100 billion euro (132.56 billion dollars worth Greek debt restructuring agreement with private creditors,understood as Private Sector Involvement (PSI) plan.
?The agreement gives Greece a current become Venizelos accentuated referring apt the second European Union (EU)/International Monetary Fund (IMF) bailout package as Greece since May 2010 that gives the country vital help to cover its financial absences,avert a chaotic bankruptcy and restore permanence and evolution apt exit the emergency.
Without the current loans, Greece would never manage to cover a 14.5-billion-euro (19.22 billion dollars bond repayment on March 20.
Greece namely shut out of international marts since 2010 deserving apt exceedingly high interest rates and depends aboard the EU/IMF bailout assistance that comes aboard lower interest rates.
Greece must work hard without wasting period to appliance the permanence and growth agenda and encounter its commitments surrounded return, Venizelos underlined.
Despite some affirmative steps the country has been reproved by creditors for missed targets regarding deficit-cutting policies and reforms apt mushroom growth.
In a 1st tread during a cabinet meeting underway aboard Tuesday evening, a design bill on the implementation of the final terms of the handle and the PSI policy was expected to be accepted and submitted to congress as a vote scheduled as afterward this week in the first place a current EU summit on early March.
By the weekend,onward apt the latest information by administration sources, Greece namely likewise deserving apt make a formal offer as the Greek debt swap that namely expected apt be mantled up by mid March.
Venizelos excellent that the final PSI plan as the voluntary write off of chapter of the Greek state debt owned by private holders of Greek bonds,namely an improved version of the structure set out by the Oct. 26 eurozone summit.
Eventually private bondholders agreed apt cut the value of the debt they own by 53.five percentage up from the initial goal of 50 percentage to secure the sustainability of the Greek debt by 2020.
Regarding the recapitalization of the Greek banking sector,????? ??,again key part of exertions to address the crisis the Greek allowable said that a total 50 billion euros (66.28 billion dollars up from 40 billion euros (53.02 billion dollars initially estimated, could be essential apt vindicate the sector?s stability.
He repeated a appeal to Greek citizens who over the past two annuals have withdrawn 65 billion euros (86.16 billion greenbacks from local banks panicking a financial meltdown,apt return their money and advocate the banking system and the national economy.?
Related:
WASHINGTON, Feb. 21 (Xinhua) ? International Monetary Fund ( IMF) capital Christine Lagarde lauded the Greek bailout policy aboard Tuesday and said she would take a recommendation apt the IMF?s Executive Board on funding Greece?s bailout agenda.
?I welcome the proposed understanding reached today by the Euro Group apt advocate Greece,? Lagarde said within a statement posted aboard IMF?s website. ?The combination of intent and roomy policy efforts by Greece, and tangible and long-term financial contributions by the legal and private sectors,MBT Tunisha,want create the space needed apt secure improvements among debt sustainability and competitiveness,? she added?
BRUSSELS,???? ???, Feb. 21 (Xinhua) ? European Commission President Jose Manuel Barroso aboard Tuesday hailed the current Greek bailout handle struck by eurozone finance ministers earlier the day because an major tread along within avoiding a disorderly default among Greece.
The 130-billion-euro about 172 billion U.S.dollars knob that one essential tread along as the nation and as the euro zone for a entire Barroso told journalists after a meeting of European Union (EU) finance ministers.?
NICOSIA,?????? ??, Feb. 21 (Xinhua) ? Cyprus?s leading lender, the Bank of Cyprus announced a net loss of 1.01 billion euros 1.34 U.S.dollars within its 2011 results aboard Tuesday,emulating the haircut of Greek bonds.
The Bank of Cyprus said the detriment resulted after a writedown of 60 percent aboard its Greek bonds holdings,measuring to one.32 billion euros.? ? Related articles? http://www.plus-care.info/waiwai/2010/06/post-89.html#comments http://zone.lidodo.com/u/mini69659/Blog.aspx/t-218591 http://softwaretestingtools.org/answers/?p=68768 MBT Tunisha
best in show bret michaels bret michaels pekingese ups tcu football westminster
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.