Forget about preventing default in Greece, control it, says Europe
By Michael Steininger, Christian Science Monitor | 08:54 am
Greece’s European partners are increasingly skeptical that Athens can avoid default.The highly indebted country is working feverishly to secure a debt write-off to avoid default, but international investors see even that as a default of sorts.
With only weeks to go before a crucial bond repayment date, statements from European leaders reveal a growing mistrust in the Greek political class’s ability and willingness to implement deficit cutting measures.Without those measures, Greece will not receive a necessary second bailout from international lenders, and without the bailout, it will likely Συνέχεια
Greek prime minister warns of March default
Greek Prime Minister Lucas Papademos has said Greece may default on its debts in March unless unions accept further cuts to salaries.
Mr Papademos said more cuts were needed to avoid exiting the eurozone.
Analysts say the warning is to prepare Greece for more austerity measures. Συνέχεια
Greece: we could exit euro in three months
New Greek government says creditors and lending troika must agree bailout terms within weeks otherwise ‘we are out of the markets’.