Build your professional network on facebook via our app Go to app
 
 
 
Activity:  0 comments  0 views  last activity : 07 20 2011 15:56:57 +0000
 Refer 42
Share
 
 
 

EU leaders must find a convincing solution to Greece's debt crisis at a summit on Thursday or the global economy will pay the price, the head of the European Commission said in an unusually somber warning.

Jose Manuel Barroso delivered the message as officials of the 17-nation currency area and bankers struggled to pin down a package of measures to persuade markets that Greece can be saved from default and the rest of the euro zone from contagion.

"Nobody should be under any illusion: the situation is very serious. It requires a response, otherwise the negative consequences will be felt in all corners of Europe and beyond," Barroso told a news conference.

He said the elements of a solution must include: measures to ensure the sustainability of Greek public finances, private sector involvement in funding for Athens, more flexible use of the euro zone's EFSF bailout fund, repair of the region's banking system and liquidity to keep the economy going.

 
TrackBack URL:
0 comments on "EU warns of economic damage if Greece summit fails "
Add your comment on "EU warns of economic damage if Greece summit fails "

Rate:
Submit
India's leading Biotech firm.
India's leading Biotech firm.
Viewers also viewed
Education is nothing but giving knowledge to individuals, some grab it quickly some may take...
 
1897 referals 47 arguments, 2897 views
Lack of Research and Development vs Compromising on quality standards
 
593 referals 37 arguments, 1169 views
Economic condition vs Caste
 
368 referals 26 arguments, 1508 views
more...  
Recent Knowledge (38)
What is stopping you from getting what you want in life? Your friends? Your family? A sense that...
 
419 referals 20 comments, 493 views
IMPORTANT ADVISORY Do not open any message with an attachment called:"Invitation FACEBOOK",...
 
100 referals 3 comments, 28 views
Why China And India Don't Get Along January 4, 2011: India-China ties are set to enter...
 
98 referals 3 comments, 108 views
more...  
More From Author
Hockey has always been my passion .... but ... only if we could win more often!
EU leaders must find a convincing solution to Greece's debt crisis at a summit on Thursday or the global economy will pay the price, the head of the European Commission said in an unusually somber warning. Jose Manuel Barroso delivered the...
Almost everyone thinks inflation is evil, but it isn't necessarily so. Inflation affects different people in different ways. It also depends on whether inflation is anticipated or unanticipated. If the inflation rate corresponds to what the majority of...
more...