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Thursday, January 26, 2012

Greece Won't Play Major Role?

Reuters reports that Germany does not expect the troika of foreign lenders, that is currently in Athens, to deliver a report on Greece's progress before a summit of European Union leaders next Monday.

The German source that Reuters quoted then added that this meant that Greece would not play a major role at the EU leaders summit.

Who is he trying to kid?

Meanwhile, the Greek press is reporting that private lenders have accepted a lower interest rate in debt deal. Athens News Agency also says that PM Papademos and the IIF's Dallara are to meet at 8pm to resume debt swap talks.

My advice is, don't believe this rumour (especially given its source) because the ECB is not going to accept a loss.

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