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The credit-line crisis

25 January 2012 06:45 pm - 0     - {{hitsCtrl.values.hits}}

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 Athens desire to slash interest rates on borrowings from the open market, from 4 to 3.5 per cent — or even lower, is proving to be a time-consuming exercise. This has sent shivers down the spine for the financial establishment, which is under an obligation to pay its first installment on borrowing to lenders across the globe. This credit shield from the private sector is essential for Greece to keep the ball rolling. The interim government also has to ensure that its structural reforms are accelerated and it has a roadmap of paying back its debts to the tune of 130 billion euros from the eurozone countries.
 The Greece stroll down is impacting ailing economies across the globe, as Italy, Spain and Ireland find it equally difficult to emulate the Athens bailout model. The International Monetary Fund and the World Bank have already laid down their limitations in weathering this debt-repayment and balance deficit crisis, asking on the respective governments to tighten their belts with renewed austerity measures and stringent regulations.
The euro is in a profound crisis and literally at the verge of extinction until major economies of the region stand firm behind it to keep it afloat. 
Khaleej Times


Greece and the worth of euro are issues that will keep the globe bogged down for quite some time, until and unless domestic prescriptions supersede an internationally agreed arrangement. Private investors need to take the charge by exhibiting largesse.

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