Reuters: Greek PM Fears Debt Cost Spiral
Greece raised the
stakes on Thursday in its quest for EU help to tackle its debt crisis,
warning it cannot achieve promised deficit cuts if its borrowing costs
remain high and might have to call in the IMF.
Market concerns it may prove impossible to construct a euro zone financial safety net for the currency area's most heavily indebted member due to German reluctance sent the euro lower, hit Greek bank shares and raised the risk premium on Greek bonds.
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Market concerns it may prove impossible to construct a euro zone financial safety net for the currency area's most heavily indebted member due to German reluctance sent the euro lower, hit Greek bank shares and raised the risk premium on Greek bonds.
Read the entire article here.
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