Greece Hits the Help Button
Greek Prime Minister George Papandreou, declaring that the "moment has come," formally requested the activation of a $60 billion financial aid package from the European Union and the International Monetary Fund.
Greek Prime Minister George Papandreou, declaring that the “moment has come,” formally requested the activation of a $60 billion financial aid package from the European Union and the International Monetary Fund.
It’s seen as a humiliating moment for Greece, and probably the largest multilateral rescue of a country ever attempted. –JCL
’TIS THE REASON…Al Jazeera English:
George Papandreou, the Greek prime minister, has asked the European Union and International Monetary Fund (IMF) to activate a financial aid package, designed to help pull the euro zone member out of its debt crisis. The request on Friday followed negotiations with EU and IMF officials over the details of the $60bn emergency rescue package.
Financial data published on Thursday showed a worse-than-expected budget deficit of 13.6 per cent of gross domestic product (GDP). “The moment has come as the market has not given us breathing space,” Papandreou said.
You know the story. Independent journalism is under threat and overshadowed by heavily funded mainstream media. During this holiday season, you can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearth what's really happening- without compromise. Give today to support our courageous, independent journalists.
As always, we wish you truth, reason and the best of the season!
There are currently no responses to this article.
Be the first to respond.