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Greek Euro Exit Being Considered: Former PM Papademos

Posted By admin On May 23, 2012 @ 3:07 am In Money Watch | Comments Disabled

Reuters [1]
May 23, 2012

Greece’s financial stability fund approved an 18 billion euro ($23 billion) injection of capital into the country’s four biggest banks on Tuesday and will release the funds on Wednesday, a fund official said.

At the same time, news reports quoted former Greece Prime Minister Lucas Papademos as saying that preparations for the country’s exit from the euro zone are being considered.

Papademos said such a move was unlikely to materialize but the risk is real.

US stocks [2] took a dive in the last hour of trading Tuesday, clipping a two-day rally, following the remarks from Papademos.

TheĀ euro extended losses against the U.S. dollar to trade more than 1 percent lower in late afternoon trade on Tuesday, which traders attributed to Papademos’ comments.

Full article here [1]

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URL to article: http://www.prisonplanet.com/greek-euro-exit-being-considered-former-pm-papademos.html

URLs in this post:

[1] Reuters: http://www.cnbc.com/id/47524590

[2] US stocks: http://www.cnbc.com/id/47518523/

[3] War-Gaming Greek Euro Exit Shows Hazards In 46-Hour Weekend: http://www.prisonplanet.com/war-gaming-greek-euro-exit-shows-hazards-in-46-hour-weekend.html

[4] Biggest Greek bank warns of dire euro exit fallout: http://www.prisonplanet.com/biggest-greek-bank-warns-of-dire-euro-exit-fallout.html

[5] Why A Greek Exit From The Euro Would Mean The End Of The Eurozone: http://www.prisonplanet.com/why-a-greek-exit-from-the-euro-would-mean-the-end-of-the-eurozone.html

[6] Citi Ups The Odds Of A Greek Exit From The Euro To 90%: http://www.prisonplanet.com/citi-ups-the-odds-of-a-greek-exit-from-the-euro-to-90.html

[7] Euro Officials Begin to Weigh Greek Exit: http://www.prisonplanet.com/euro-officials-begin-to-weigh-greek-exit.html

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