EU urged to block Greece bail-out
JUSTIÇA DE SÃO PAULO DETERMINA QUE O MUNICIPIO AUTORIZE A EXPEDIÇÃO DE NOTAS FISCAIS ELETRÔNICAS.
9 de fevereiro de 2024
Por que Rússia deve crescer mais do que todos os países desenvolvidos, apesar de guerra e sanções, segundo o FMI
18 de abril de 2024Leading London-based think tank Open Europe has claimed that a fresh bail-out,
expected to be around €120bn (£106bn), will almost triple taxpayers’
existing exposure to Greek debt.
“Despite a second Greek bail-out being EU leaders’ preferred option, it is
only likely to increase the economic and political cost of the eurozone
crisis,” said Open Europe in a report.
The warning came ahead of a crucial vote of confidence in the Greek
government, which was won – as expected – late last night.
The vote came at the end of a three-day debate on George Papandreou’s
unpopular package of spending cuts and asset sales, which faces another vote
on June 28. The prime minister has just a six seat majority in the
300-member parliament.
On Sunday, European leaders said they would not release the next €12bn tranche
of international aid unless Greece passes the measures.
Without the cash injection, which is the fifth instalment from the €110bn
international bail-out package agreed last May, Greece will run out of money
in mid-July. A failure to pass the measures is also likely to scupper plans
for a second bail-out.
On Tuesday, Greece held a successful auction of three-month treasury bills
where global investors bought a higher amount of the €1.62bn debt issued
than at a similar sale last month.
Traders said investors were confident that Greek politicians would pass the
austerity measures – which include a €50bn privatisation programme, as well
as job and spending cuts – despite the strong opposition to them. The euro
also traded up on the back of the optimism.
The Chinese Foreign Ministry said it was willing to talk about ways it could
help stabilise the European financial system during its visit to Britain,
Germany and Hungary this week.
Ahead of the visit by Premier Wen Jiabao, a spokesman said: “The Chinese
government has already taken a series of proactive measures to push
Sino-Europe trade and economic cooperation, such as buying euro bonds …
China is willing to continue helping European countries realise economic
growth.”
Power supplies across Greece and some of its islands were again disrupted
following strikes by workers at Public Power Corp, a state electricity
provider which is facing privatisation.
The power cuts have impacted a raft of firms from transport groups to
restaurants, which have been struggling in the high temperatures.
Separately, European banks may be forced to quantify and publish their
exposure to Greek debt as part of regulatory stress tests set for July 13.
The European Banking Authority (EBA) is analysing each bank’s ability to
handle a sovereign default or severe downgrade.
Tim Geithner, the US Treasury Secretary, called for European leaders to unite
on a rescue plan for Greece. “It would be very helpful to have Europe speak
with a clearer, more unified voice on the strategy,” he said.
Stocks markets in Asia rose on Wednesday after the vote of confidence in the
Greek government boosted hopes that the country will avoid default. The rose
dipped against the dollar to $1.4395.
