Without one, it could default on its debts, which could be the first step in a chain reaction that sees the country fall out of the euro currency union. [...] budget 'austerity' measures aim to reduce the budget deficit but have also hurt the economy by increasing unemployment, making Greeks poorer and reducing the amount of disposable income Greeks have. Creditors are insisting it should if it wants more loans, because they are worried that if Greece doesn't get its public finances back in shape, they'll never get their money back. If Greece can't pay its creditors, the government debt lenders use as collateral for their ECB loans would become worthless and the ECB could withdraw its support. [...] Greece and its creditors need to find a longer-term solution. Because most of Greece's debts consist of bailout loans, the country would be helped if its creditors agreed to make the terms of those loans easier — either by reducing the interest Greece has to pay on them or extending their repayment date.
Comment on News guide: A look at Greece's financial troubles
The Associated Press, Seattle Post-Intelligencer: Business
Tue, 06/16/2015 - 2:29pm
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more