Monday, April 26, 2010

News: Wanna know why is impossible to save Greece?

While Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), calmed Greek investors saying that "Greek aid will come on time", German investors and parties believe the opposite and stands that there's no future in Greek economy.

Can we blame Germans? Greek stocks fell and bond yields jumped, their investors add pressure on Greece and the country seems a bottomless pit for money.

Business Insider exposes why is impossible to save Greece. Click here to see why

But, who will fail with Greece? Mainly, banks:

  • French banks represent over 25% of claims
  • Swiss banks represent over 20% of claim
  • German banks represent close to 15% of claim
  • U.S. banks represent just above 5% of claims
  • U.K. banks represent about 3% of claims

80% of Greek debt claims are on European banks. This is a European problem.

Euro is sufferint too with Greek crisis and his value is going down. Also, EMU (Economic and Monetary Union) being concerned about Euro, will harden conditions to join Eurozone, specially will look closelly external imbalances and budget positions.

Will Greece fall?

Related articles:

Special: Greek crisis


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