Unhappy in Their Own Ways: The Threat a Greek Exit  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8784 (May 2012), page 22-24.
Topik: International; Economic Recovery; Financial Services; Investment Policy; Economic Planning

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.71 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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The deep uncertainty over what will happen next in Greece unnerved financial markets. On May 7th the euro touched its lowest value against the dollar since January while in Athens the stock-market fell by 7% and bank stocks by 13%. Investors piled into the havens of German government bonds and American Treasuries. On the same day Angela Merkel, the German chancellor, was swift to insist that there could be no backtracking on the commitments Greece made at the time of its second bail-out earlier this year. By the end of June a Greek government is supposed to specify a further package of reforms and spending cuts, worth 5.5% of GDP. Even before an exit Greece's banks could collapse if the steady withdrawal of deposits were to develop into an outright run.

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