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Eurozone ministers support 130bn-euro bailout for Greece

Eurozone finance minister got contract for second aid for heavily indebted Greece. The contract came after 13 hours discussion in Brussels that it will provide Athens with loans worth more than 130bn euros (£110bn; $170bn).

Greece wants the finances before 20 March to avoid bankruptcy.In return, Greece will undertake to reduce its debts to 120.5% of its GDP by 2020.


23.02.2012

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By:Megan on Mar 13, 2012


  

That's Good News, Tom. I have absolutely no beoplrm with women shopping, be they Chinese or otherwise. The men can shop, too.But there is still a beoplrm, in that 1) The economy in China needs to adjust, to produce the things the Chinese need and are willing to pay for. Such a period of adjustment can be painful, with a lot of unemployment and liquidation. Government needs to seriously help here.2) Relative prices in China have been distorted, as the Chinese cannot afford to buy the output of the firms they work for. As prices are sticky, this is another area where the Government needs to help.3) There is still the question of a few decades of wasted resources, in which China oriented its economy to produce goods for the satisfaction of foreign wants instead of their own domestic wants, and imposed high taxes and forced savings programs on their own citizens, preventing the development of a healthy domestic market. I'd still go forward with the trials.

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