Greece crisis: investors wait on deal details

The article “Greece crisis: investors wait on deal details” talks about the European investors who are not able to invest in Greece until they know the details of the rescue plan for the Greek economy and other eurozone countries.

Nowadays there is a big fear that the Greek crisis could spread to other parts of the eurozone because our currency is very weak compared with the dollar.
President Barack Obama and the German Chancellor Angela Merkel have also their concerns over a possible contagion because Standard and Poors downgraded Spain’s debt which is a sign of a loss of confidence in another important European country. In other European countries the situation will also become very difficult because there is a high pressure.

They are convinced that the rescue plan should come there as soon as possible. If the EU will make a chance to conjure the financial crisis they have to prove that they are able to take important decisions in a very short time span.

In my opinion the statement of Angela Merkel is a bit contradictory because on the one hand the European negotiations about loans were jammed due to the German attitude. On the other hand she said that the negotiations with the Greek government, IMF and the European Commission need to be accelerated.

Analysts said that the provided packet of 45 billion Euros will not be enough to solve the Greek problem and that they will need a lot of money in the coming years.

This blog is based on the following article:
http://news.bbc.co.uk/2/hi/business/10090310.stm

De Bruycker Mathias 2FV4