InfoAnda - Greek PM rules out any restructuring of national debt

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Deadly storm snarls holiday travel in central US | 25 December 2009
Tunisian government says four more killed in clashes | | 11 January 2011
'Rock Band' videogame heading for iPhone | 10 October 2009

Japan unemployment rises as output slows | 29 June 2010

Forum Views () Forum Replies ()

Read more with google mobile : Greek PM rules out any restructuring of national debt

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Full Coverage Sitemap Greek PM rules out any restructuring of national debt AFP - Monday, September 13 Send IM Story Print THESSALONIKI, Greece (AFP) - – Greek Prime Minister George Papandreou on Sunday ruled out any restructuring of the country's huge national debt, warning it would have disastrous consequences. And he expressed confidence that the government's tough austerity measures would win back the confidence of the markets. "The logic of restructuring the debt would be catastrophic for the economy, for our credibility, for our future," Papandreou told reporters in Thessaloniki a day after he sketched out his economic priorities in a speech there. If debt payments were suspended, he said Greece "would head towards a potential and probable collapse of the banking system and the loss of Greek families' property (which) would be a tragedy," he added. Greece averted default on its debt in May when it agreed to unprecedented cuts in pensions, public sector pay and a sales tax hike in return for a 110-billion-euro (140 billion dollar) rescue package from the European Union and International Monetary Fund. The measures triggered waves of strikes and protests, including one in May in which three people died when the Athens bank they worked in was firebombed. On Saturday, 20,000 people marched against the austerity drive in Thessaloniki, Greece's second city, hours before Papandreou defended the measures in a major speech. Burdened with debts close to 300 billion euros, the Greek government turned to the EU and IMF after a credit rating downgrade triggered a collapse of investor confidence that drove up Greece's cost of borrowing on the bond market. Even after the EU-IMF bailout, some economists continue to warn that Greece could in the coming years be forced to restructure its debts, which would damage not just the Greek economy, but probably the broader eurozone too. But Papandreou insisted Sunday that the government had shown it was ready to do what was needed to put right the country's finances. "Greece was the weak link on the international market but the previous months we have proved to be capable of facing up to the problems," he said. The government's austerity programme would help turn the country around, he argued. "I'm sure that we will recover our credibility and that the 'spread' (the gap between yield on Greek bonds and those of Germany, a reference for the whole of Europe) is going to drop." Papandreou stressed that his Socialist government has strived to keep the country afloat economically since coming to power 11 months ago. "We have done what we decided to do in order not to get into the logic of bankruptcy," he said. Asked about any new austerity measures, he said "as long as the economy does well, no new measures are needed," ruling out an increase on heating fuel about which there had been press speculation. In his speech, Papandreou expressed confidence that his government would meet its target of a 40-percent cut in the public sector deficit by the end of the year. He also promoted bank restructuring measures, saying the country "needed a strong public foundation". Papandreou said he was ready to forge ahead with a cut in the defence budget, one of the largest in the EU, but this depended on Turkey, he said, in a reference to Greece's sometimes tense relationship with its neighbour. "If there is the will in Turkey (to reduce defence spending), and I hope it will be expressed, we could talk about a significant cut (in the defence budget)," he said. On public sector reform, a real headache for the government, the prime minister ruled out any lay-offs among civil servants. But he reiterated his commitment to fighting corruption, particularly in healthcare. "Taking an envelope (containing money) is fraud," he said, referring to the tradition of doctors receiving kick-backs from patients. On Monday, IMF, EU and European Central Bank officials are due in Athens to check the government's success in meeting the conditions for the international bailout. If they are satisfied, a third tranche of loans worth nine billion euros can be released. Last week the EU and the IMF gave the go-ahead for the second instalment of loans, also worth nine billion euros, which the government is due to receive by the end of the month. Recommend Send IM Story Print News Search Top Stories Greece fears renewed fuel shortage Mosque retreat will feed extremism, warns NY imam Greek PM rules out any restructuring of national debt French New Wave film director Claude Chabrol dies at 80 Central bankers reach deal on new bank regulations More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended US pastor puts Koran-burning on hold Doomsday warnings of US apocalypse gain ground Ceremonies in NY, Washington mark 9/11 anniversary Barclays chief hits back at 'casino banker' critics Kim Clijsters defends US Open title More Most Viewed » Climate: New study slashes estimate of icecap loss Earth's upper atmosphere shrinking, scientists say Tiger's ex breaks her silence on sex scandal US pastor puts Koran-burning on hold Japanese rider Tomizawa dies in San Marino Moto2 GP More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Monday, 13 September 2010
Iran ready to free detained U.S. woman on bail
US-TECH Summary
Central bankers reach deal on new bank regulations
Finesse needed on "difficult" Iran
Artificial "skin" materials can sense pressure
Deutsche Bank unveils record capital hike to buy Postbank
Forbes Predicts Mukesh Ambani As Richest Man On Earth By 2014
Netanyahu hints at settlement construction limits
Greek PM rules out any restructuring of national debt
Kentucky Breakfast Rage Kills 5
Enbridge Claims Oil Spill Contained
Four killed in clashes in northern Iraq
Iran to release US detainee on $500,000 bail
2 killed in Afghan anti-Quran-burning protest
NATO says 5 insurgents killed in Afghanistan
Thousands of Chinese swim in Taiwan lake
Sumo event starts with vow to sever yakuza ties
Petraeus issues guidance for Afghan contracting
Igor strengthens to category four hurricane
China mass measles vaccination plan sparks outcry
Iran says to release US detainee on 500,000 dollars bail
China summons Japanese ambassador again over boat
Artificial skin materials can sense pressure |
US-ENTERTAINMENT Summary
New "Resident Evil" sequel rules world box office
'Resident Evil' takes box office lead
Redford digs into Lincoln assassination plot
MTV awards revive Taylor Swift, Kanye West rivalry |
Redford digs into Lincoln assassination plot |
New Resident Evil sequel rules world box office |
Obama aides suggest going soft on Afghan corruption
Robotics breakthrough: Scientists make artificial skin
Pope's visit aimed at easing tensions with Anglicans
Mexican marines capture top drug lieutenant |
Turkey referendum win puts Erdogan in poll for 2011
Rare North Korea meet delayed due to leader's health: report |
Russian police swoop on opposition protest
Mosque retreat will feed extremism, warns NY imam
Thousands held without trial in Iraq jails: Amnesty
French New Wave film director Claude Chabrol dies at 80
Greek PM rules out any restructuring of national debt
Japan frees China boat crew, calls for gas talks |
Police, Reporters Far Outnumber Protesters In Front Of Controversial Church
U.S. handover puts Iraqi prisoners at risk
Pope praises Catholic convert ahead of Britain trip
Brazil's Rousseff takes heat in televised debate |
British troops in Afghanistan face heroin smuggling probe
Japan PM candidates woo undecided MPs before vote |
Backers of Guinea election rivals clash in streets |
2 killed in Afghan anti-Quran-burning protest
Turkey referendum win puts Erdogan in pole for 2011 |
Israeli shelling kills 3 Palestinians in Gaza
Netanyahu hints at settlement construction limits
Philippine Muslim rebels say ready for peace talks
S.Korea activists to stage anti-G20 protests
U.S. handover puts Iraqi prisoners at risk: Amnesty |
Iran ready to free detained U.S. woman on bail
Japan PM and rival in party leadership showdown
Instant View
Thailand denies visas to Vietnam rights activists
Take That in live show reunion
Thailand denies entry to Vietnam activists: group
Lady Gaga the big winner at MTV music awards
Health of N.Korea's Kim delays key party meeting
NBC originally said no to release of 'SNL' doc
Chinese martial arts master to teach Fijians tai chi
Geithner not satisfied with China progress on yuan
Danny Boyle comes to the rescue of French filmmaker
Japan PM candidates woo undecided MPs before vote
Boyle, Franco challenged in survival film "127 Hours"
Wife directs Bollywood star Aamir Khan in latest film
India's lost Buddhist university to rise from ashes
Take That's Williams, Barlow reunite for charity
Igor strengthens to category four hurricane
NZ quake rebuild to boost 2011/12 GDP
Seoul shares hit new 27-mth closing high on autos
Korea Fin Corp eyes up to $750 mln bond sale this wk
Bidder to appeal ruling on AIG Taiwan unit: report
Bidder to appeal ruling on AIG Taiwan unit-paper
Korea Hot Stocks
KNOC eyes up to $1 bln foreign bond sale in 2010
Seoul shares rise; Hyundai Homeshopping rallies
Carrefour cuts rivals from S.E Asian store auction: report
Lady Gaga the big winner at MTV music awards |
Boyle, Franco challenged in survival film 127 Hours |
Take That's Williams, Barlow reunite for charity |
Sofia Coppola's film on celebrity wins in Venice |
U.N. nuclear body and Iran clash over barred inspectors
Fourteen killed in Koran protests across Indian Kashmir |
Google to buy Israel's Quicksee: report
Iraq combat over but U.S. troops still in danger
Air strikes kill 14 in Afghanistan: NATO
Mobile phone users enlist YouMail "digital secretary"
U.N. nuclear body, Iran clash over barred inspectors |
Trial Begins Of Lesbian Discharged From Air Force
EU tips faster euro economy growth of 1.7% for 2010
Iran frees rights activist on bail
Man Goes To Grab Wallet, Instead Grabs Pistol And Shoots Himself
Cyanide Suspected In Lab Technician's Death
Plane crashes in Venezuela with 47 on board |
Bank shares rally despite new tough rules on capital
Polo Ralph Lauren Holds Successful Fashion's Night Out Events
Philippines searches for mother of newborn left in plane |
BAE Systems eyes sale of US unit Platform Solutions
Grey's Anatomy Season Six Available September 14 On DVD
NATO: Airstrikes kill 14 insurgents in Afghanistan
Turkish referendum win boosts Erdogan and markets |
Scientists warn research slowdown poses global threat
Special Representative To Muslim Communities Cites U.S. Goodwill With Islam
Venezuela to compensate Holcim cement
Study: Number Of Childhood Basketball-Related Brain Injuries Spike
Afghans say ready to secure parliamentary poll |
Greece fears renewed fuel shortage
Saudis hope palm date trade will enliven remote town |
Lady Gaga Dominates MTV VMAs With 8 Wins
Enbridge Targets September 27 Deadline On Oil Spill Cleanup
Two UK men ran illegal sperm donor agency |
"Resident Evil: Afterlife" Finishes First At Weekend Box Office
Russia says EU stalling on visa-free travel |
Iraq, US dispute Amnesty prison abuse claims
Clinton heads to Mideast to boost peace talks
U.S. says Russia "closer than ever" to WTO
Artificial skin materials can sense pressure |
Govt says 42% of Israeli Jews are secular
HP to pay $1.5 billion for security firm ArcSight |
Lady Gaga stylist to design for Thierry Mugler
Google to launch e-book service in Japan in 2011
Google to buy Israel's Quicksee: report |
China an 'important engine' for world economy: PM
U.S. actor McCarthy of "Body Snatchers" fame dies
EU struggles to persuade Italy over Korea trade deal
MTV awards agog for Lady Gaga
Strong China data lifts Asian markets
Embattled Weinsteins aim for royal rebound
Bollywood star apologises over Mumbai attacks remark
China central bank welcomes new bank regulations
PREVIEW-New Zealand quake to stall rates until 2011
Moody's: Shinhan Financial reputation damaged
Asia shrugs off global banking shake-up
Cambodia garment workers begin big strike over pay
Schwarzenegger keen on China high-speed rail
Embattled Weinsteins aim for royal rebound |
U.S. actor McCarthy of Body Snatchers fame dies |
Favoritism charges follow Tarantino Venice awards |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01