i on europe


Brussels blog by some wire service journalists

Eurozone set for Greek deal, temporary default


BRUSSELS (AP) — European leaders were poised to sign off on a second bailout for Greece on Thursday, even at the cost of making the country the first euro state to partially default on its debt.

With the new rescue program for Greece, leaders want to “address the problems really at the root,” by lightening the country’s debt burden and restoring its economic competitiveness, German Chancellor Angela Merkel said as she arrived at an emergency summit in Brussels.

That will include getting private creditors to contribute to new aid, a move that would put Greece in so-called “selective default,” a partial renege on its debt deals.

Economists worry that a default, even if only temporary, could rock markets if not accompanied by substantial new financial support from the eurozone and a significant decrease in Greece’s debt burden.


Filed under: Story links

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Don Melvin

Slobodan Lekic

Raf Casert

%d bloggers like this: