Thursday, February 11, 2010

Greece update

Saving Greece,

Is it worth saving Greece? Looking at this Greek goddess is making me rethink my original thesis -

· Greece update – the European Summit produced a statement that pledged support but lacked details of any specific aid mechanisms. EU’s Barroso said the leaders didn’t discuss financial pledges for Greece and Van Rompuy indicated that there were no talks about the debt situation in other Eurozone states. The Bottom Line was that the European leaders pledged support for Greece should the situation reach a crisis but since conditions aren’t there yet, no action was required at the moment. "Euro-area member states will take determined and coordinated action if needed to safeguard financial stability in the euro area as a whole," There is a European Finance Ministers meeting this coming Tues and some more specifics could come then.

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