Publication Date:
Tue, 2011-06-14 19:13
Greece, which was already granted a €110 billion bailout last May, needs tens of billion of euros in additional financing over the coming years as it remains locked out of international debt markets.
Tuesday’s meeting of finance ministers in Brussels plots Germany, supported by several other rich nations, against the European Central Bank.
Germany wants banks and other private investors to give Greece more time to repay the bonds they hold, but the ECB fears such a maturity extension would be counted as a default and drag other struggling countries further into crisis.
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