Thursday, February 09, 2012

Now the 21st July 2011 EU Council agreement must go into effect!

Here is the link to the document agreed by the Euro Group for the second rescue package for Greece, signed off in the heady days of last summer when it was laughingly assumed €109 billion would be enough. Now it is reported to be around €130 billion and of course in the interim France has lost its Triple A rating and many other members of the Euro Group have been downgraded.

Will the IMF and ECB still step up for their share? Will Cameron have the votes needed for Britain to join in. Will Greece really be able to delivcer the depth of cuts and associated misery now being applied?

It should be an interesting meeting now planned for Brussels!



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