European Commission (EC) president José Manuel Barroso issued a statement: The Commission is ready to propose an instrument for coordinated assistance to Greece. Such an instrument would be constituted by a system of coordinated bilateral loans and would be compatible with the no bail-out clause and with strict conditionality. The creation of this instrument does not imply its immediate activation. Our objective is an instrument designed within the euro area, with conditions and management established by the euro area and its institutions. We cannot prolong any further the current situation. I do not want to speculate if there will be a financial contribution from the IMF. What is important is to agree on a Euro area instrument. I urge the EU’s leaders to agree on this instrument as soon as possible.
EC president urges swift action to save Greece from possible default
Most Popular Articles
Latest Articles
11 real estate events & conferences to help you thrive in 2024
Forge new connections at these in-person events and conferences that can help take your career to the next level.
-
In quest to grow reverse business, US Mortgage Corporation hires Krajewski
-
NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
-
Renters gain financial edge over homebuyers in key U.S. markets: Realtor.com
-
Reverse-centric Ibis Software appoints Sivori to board of directors
-
Clear Capital extends its partnership with Cherre