Friday 12 February 2010

EU's lack of detail on Greek rescue leads to confusion

Telegraph
"In an unprecedented move, heads of state from the euro area issued a statement pledging "determined and co-ordinated action" to prevent the Greek fiscal crisis from descending into a full-blown economic collapse, but stopped short of detailing how much cash would be provided, and from whom.In a short statement, the leaders indicated that they stood ready to provide economic support for the country, which is struggling to borrow in capital markets after running up an unprecedented budget deficit."

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