Yannis Stournaras, the Greek finance minister, told German newspaper Handelsblatt on Monday that Greece may seek to ease its debt burden by renegotiating its bailout terms.
The renegotiation could involve lower interest payments and more time to repay 240bn euros in loans.
The BBC reports that on Sunday he admitted that Greece may face a hole in its finances of up to 10bn euros.
As I have noted before, the only real solution for Greece's financial and social woes are for it to leave the Eurozone and devalue its currency.
Blog Archive
-
▼
2013
(33)
-
▼
August
(11)
- Greece Wants To Renegotiate Bailout Terms
- Banks Embroiled In Another Mis-selling Scandal
- Greece Needs Another Aid Programme
- Banks Play The Old Switcheroo
- Eurozone Out Of Recession?
- Pre Election House Price Bubble On Its Way
- Greece Imploding
- Greek Youth Unemployment Close to 65%
- UK Economy Heads Towards Escape Velocity
- UK Construction Jumps
- Lloyds Back In Profit
-
▼
August
(11)
Popular Posts
-
As expected China's economic growth slowed to 7.5% in the second quarter of the year. The Chinese statistics bureau said the slowdown...
-
In May Greek youth unemployment was almsot 65%, in June it showed a slight "improevment" falling to 58.8%. However, when compared...
-
Last week I wrote that Greece had been given a three day deadline to reassure Europe and the International Monetary Fund that it could del...
-
As sure as eggs are eggs, the Office for National Statistics (ONS) has revised its figures yet again. This time the revision brings some go...
-
UK construction activity rose in July to its highest level since June 2010. Reuters reports that the Markit/CIPS construction PMI rose to 5...
-
I see that Barclays is fond of playing Monopoly, and has managed to create a bank error (for once in its customers' favour) that will en...
-
As loyal readers know, I have on numerous occasions noted that the financial services industry in the UK has tarnished its image because of ...
-
Ed Davey, the Energy Secretary, has pleaded with energy companies to explain their profits ie to be more "transparent". Ofgem h...
-
Following last week's website crash on its relaunch, the TSB has yet again managed to drop the ball; this time by mis-spelling Ashtead ...
-
Youth unemployment in Greece has risen to a shocking 64.9% in May. Levels of unemployment such as this are normally associated with third ...