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
TRUTHDIG’S JOURNALISM REMAINS CLEARAl 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.
The storytellers of chaos tried to manipulate the political and media narrative in 2025, but independent journalism exposed what they tried to hide.
When you read Truthdig, you see through the illusion.
Support Independent Journalism.
Prison Reform
Federal lawmakers sent letters to two companies this week requesting information about their profits, policies and contracts with local governments.
Editorial Cartoons
Economic Justice
Some with outstanding loans say they plan to boycott the payments altogether.
Economic Justice
The policy brief recommends a "pause in debt payments" to "allow developing economies weighed down by debt to mitigate some social effects of these shocks, using resources earmarked for debt servicing."
Books
The writer's friends and comrades reflect on his monumental work.
Opinion
Decades of looking to the IMF for salvation has yielded only crises.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.