European Union finance ministers are pressing the indebted member nation to embrace a massive austerity plan and plug its debilitating deficit. But with markets skeptical and the appetite for more bailouts low, there are growing concerns that a Greek meltdown could deal a severe blow to Europe's common currency - the euro - and set off a domino effect in Italy, Spain, and Portugal.
Keen to keep Greece from crashing the euro, European Union governments pressed the country yesterday to stick to a painful austerity program that could cut its rising debt but risk social unrest.
For more: EU seeks to avert a Greek tragedy | Philadelphia Inquirer | 01/20/2010
No comments:
Post a Comment