Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

EU officials expect Greece to default but stay in eurozone

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Bruno Waterfield,
London Telegraph
Sept 22, 2011

There is a growing consensus among EU diplomats and officials that Greece will default while remaining inside the eurozone.

Intense talks are taking place in Berlin, Paris, Frankfurt and Brussels about how to manage a Greek default in the short to medium term.

“It is not now but a question of when and how, not if,” said a source.

EU diplomats, both inside and outside the eurozone, now believe that in the single currency long run Greece “may decide to leave” because of its need for depreciation will make it necessary.

  • A d v e r t i s e m e n t

In the absence of other structures, a consensus is emerging that the European Central Bank will have to monetise debt by buying large quantities of Greek bonds to keep banks, especially in France, afloat.

A huge expansion of bond buybacks – the ECB has around €1.7 trillion (£1.48bn) at its disposal – would also be used as a “firewall” to protect Italy and Spain.

Full article here

This article was posted: Thursday, September 22, 2011 at 8:01 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
Experts: Ebola May be Airborne, Could Kill Millions See the rest on the Alex Jones YouTube channel.

The Truth About ISIS & Obama's War Speech See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.