Bailing out the Greek economy futile, says FRENCH banking chief

peaceandlove · 03-15-2010, 05:58 PM

What Happens If Greece Really Defaults?

Matthew Bandyk, On Thursday March 11, 2010

Earlier this week, Greek Prime Minister George Papandreou traveled to the United States to promote a message: We're in this together. The debt crisis that has threatened the Greek economy and the stability of the European Union's monetary policies "very much involves America's interests," Papandreou stated in a speech at the Brookings Institution in Washington.

The prime minister--who was born in St. Paul, Minn.--even connected the current crisis to the Great Depression as well as the Great Recession. "If the European crisis metastasizes, it could create a new global financial crisis with implications as grave as the U.S.-originated crisis two years ago," he said.

Continues: http://finance.yahoo.com/news/What-H...43040.html?x=0

03-15-2010, 05:58 PM	#16
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: Bailing out the Greek economy futile, says FRENCH banking chief What Happens If Greece Really Defaults? Matthew Bandyk, On Thursday March 11, 2010 Earlier this week, Greek Prime Minister George Papandreou traveled to the United States to promote a message: We're in this together. The debt crisis that has threatened the Greek economy and the stability of the European Union's monetary policies "very much involves America's interests," Papandreou stated in a speech at the Brookings Institution in Washington. The prime minister--who was born in St. Paul, Minn.--even connected the current crisis to the Great Depression as well as the Great Recession. "If the European crisis metastasizes, it could create a new global financial crisis with implications as grave as the U.S.-originated crisis two years ago," he said. Continues: http://finance.yahoo.com/news/What-H...43040.html?x=0