Sunday, April 11, 2010

European Nations Offer $40 Billion to Help Greece

The New York Times - BRUSSELS — European leaders sought Sunday to quash any doubts about their resolve to help Greece, offering the country a one-year aid package of up to €30 billion at a much lower interest rate than investors have been demanding.

The plan, under which countries in the euro zone would lend Greece money at 5 percent interest — compared with as much as 7.5 percent the government paid on the bond markets last week — brought the currency union significantly closer to what would be the first rescue of a member in its history.

At the same time, the size of the financial commitment, the equivalent of $40.5 billion, which was above market expectations, could at least postpone the need for aid by reassuring investors and helping Greece refinance debt that comes due by the end of May.

1 comment:

dissertation said...

it's good to see this information in your post, i was looking the same but there was not any proper resource, thanx now i have the link which i was looking for my research.

UK Dissertations Help


Watch videos at Vodpod and more of my videos

Search This Blog Video What's News US

NYT > Business

CNBC Top News and Analysis