Panic and anger over Greek bailout delay
Wednesday 14 November 2012
Greece rushed to markets yesterday to raise vital cash to avoid bankruptcy as its international creditors further delayed payment of a €31.3bn (£25bn) loan instalment.
The reason for the delay was in part due to a wrangle between Europe and the International Monetary Fund over ways to address Greece's debt. Athens said it had sold enough treasury bills to repay most of the €5bn of bonds that mature on Friday, but worries mounted over when its overdue loan would be handed out.
"Grey smoke from Brussels" read the headline of leading daily Ta Nea, referring to the ambivalent outcome of Monday's meeting. Although officials from the EU and IMF suspended the aid, they also praised Greece's "resolve to implement and deliver a very ambitious programme" and agreed to extend its economic programme by two years in an effort to alleviate the hardship.
Officials from Syriza, the main opposition party, lambasted Monday's meeting. "The [agreed] extension won't offer a breather but rather will extend austerity and will be accompanied by harsher terms," the party said. "Even if the instalment is paid, no viable solution for [Greece's] growing debt will ever be presented if is not tackled at a European level."
- 1 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 2 What supermodels really think about posing in the nude
- 3 North Korean defector flees to Finland 'with evidence of chemical testing on humans'
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
Greece debt crisis explainer: A history of just how the country landed itself in such a mess
North Korean defector flees to Finland 'with evidence of chemical testing on humans'
Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
Isis schoolgirl Amira Abase who fled London to join terrorists in Syria mocks victims of Tunisia massacre
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
£7 - £10 per hour: Recruitment Genius: This care provider is looking for Home ...
£30000 - £35000 per annum: Recruitment Genius: One of the UK's leading web des...
£27000 - £35000 per annum: Recruitment Genius: A growing, successful, friendly...
£16000 - £25000 per annum: Recruitment Genius: This family owned, independent ...