الثلاثاء، 4 أكتوبر 2011

World stock markets drop sharply after the recognition of Athens by failing to reduce the budget deficit

Has seen global stock prices fell sharply after the recognition of Greece by failing to achieve its goal of reducing the budget deficit, which stood at 8.5% of GDP
 Raising fears of the inability of Athens to obtain access to the sixth installment of European assistance to avoid bankruptcy. And declared Athens it would not be able to reduce the deficit in the budgets for 2011 and 2012 and selected by the European Union and the International Monetary Fund under the Plan of emergency rescue to avert bankruptcy.According to a statement issued by the Ministry of Finance, the budget deficit to reach 8.5% of GDP during the current year, which is below the initial target set at 7.6%.The ministry said that although they will be able to cut the deficit to 6.8% of GDP next year, that goal is still less than the percentage specified in the rescue plan is 6.5%.And economic reports showed that this inability to achieve the stated objective is likely to have negative implications, where it appears that the tax increases and emergency wage cuts during the past three months were not sufficient to restore the financial situation of the country on track again.This came at a time when sources denied the end of the talks between Greece and inspectors from the EU and the IMF on a new batch of aid to rescue the debt-burdened country, unlike what was announced by Deputy Minister of Finance, the Greek who said that negotiations were essentially concluded.In Luxembourg, the finance ministers meet the European Union to reach an agreement to grant Greece the sixth installment of the loan assistance worth 8 billion euros.In the meantime, draw the Institute of Stratfor, the U.S. frightening picture of the crisis of the Greek debt to the European economy, where he confirmed that the bankruptcy of a beautiful Mediterranean Sea will cost the old continent nearly two trillion dollars, which will lead to a series of economic collapse sequence for a number of countries of the continent in Mekdmthma Italy the first countries that are threatened the specter of bankruptcy in the case of the fall of Greece.The Institute's analysis that the bankruptcy of Greece and take it out of the euro area as soon as it is inevitable and unavoidable to the Europeans if they want to keep the area alive, stressing that Europe will not be able to declare bankruptcy Greece only if established pre-bailout fund new value of two billion dollars.For its part, according to French newspaper Le Figaro that there are concerns in Washington and London and Beijing, the threat posed by the debt crisis in the euro area.The newspaper added that it is time to restore the European house in order, and saw that someone makes Europe a scapegoat for problems that need to be on every country in which to solve alone

0 التعليقات:

إرسال تعليق

share
download juice, the cross-platform podcast receiver

 
Design by Wordpress Theme | Bloggerized by Free Blogger Templates | JCPenney Coupons