Thursday, January 5, 2012

L-Pap: Greece Faces Disorderly Default by March

Greece's new PM is now openly threatening a disorderly Greek default by March if they are not given better terms on their ^nth bailout.

ATHENS (Dow Jones)--Greece faces the risk of a disorderly default in March if it doesn't complete negotiations for the country's second bailout starting later this month, Prime Minister Lucas Papademos said Wednesday.
In a copy of his comments made in meetings with employer and employee groups, Papademos said the coming weeks and months are "exceptionally crucial" for the country as Greece needs to secure funding from European peers and the International Monetary Fund. Among the financial pressures faced by the heavily indebted government are EUR14.5 billion of bonds expiring ...
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