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Europe warned of financial chaos over Greek debt crisis

Posted By admin On June 16, 2011 @ 3:59 am In Featured Stories,Money Watch | Comments Disabled

Ian Traynor & Helena Smith
London Guardian [1]
June 16, 2011

Greece’s 18-month sovereign debt crisis brought the government to the brink of collapse as public fury over savage austerity measures erupted in pitched battles with riot police on the streets of Athens.

Europe warned of financial chaos over Greek debt crisis 140611topPhoto: Wikimedia Commons.

The escalation of the Greek crisis had instant European and global impact, sending world stocks tumbling and exposing European Union paralysis over whether and how to launch a second attempt in a year to save Greece from insolvency.

George Papandreou, the socialist prime minister, announced he would seek a vote of confidence on a new government after offering to resign and broker a new national unity coalition with opposition conservatives.

He admitted failure after intense but fruitless negotiations with the conservative New Democracy party aimed at engineering a consensus behind the massive public spending cuts and wholesale privatisation programme – moves deemed necessary to secure a second bailout from the European Union and International Monetary Fund.

Full article here [1]

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URLs in this post:

[1] London Guardian: http://www.guardian.co.uk/world/2011/jun/15/europe-warned-greece-financial-crisis

[2] Image: http://www.prisonplanet.tv/

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] Greek debt crisis: Europe feels shockwaves as bailout falters: http://www.prisonplanet.com/greek-debt-crisis-europe-feels-shockwaves-as-bailout-falters.html

[5] Obama Presses Europe, Pledges Help for Greek Crisis: http://www.prisonplanet.com/obama-presses-europe-pledges-help-for-greek-crisis.html

[6] They Want A “US Of Europe” But They Are Going To Need A Massive Financial Crisis To Get It: http://www.prisonplanet.com/they-want-a-united-states-of-europe-but-they-are-going-to-need-a-massive-financial-crisis-in-order-to-get-it.html

[7] The Next Global Credit Crisis: Why U.S. Banks and Greek Debt Will be the Toxic Trigger: http://www.prisonplanet.com/the-next-global-credit-crisis-why-u-s-banks-and-greek-debt-will-be-the-toxic-trigger.html

[8] Financial red alert: Europe stands on verge of ‘apocalyptic’ debt crisis with only days remaining: http://www.prisonplanet.com/financial-red-alert-europe-stands-on-verge-of-apocalyptic-debt-crisis-with-only-days-remaining.html

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