Greece faces another test and another deadline

Greek Prime Minister Lucas Papademos may have reached an agreement on a potential deal for a $172 billion rescue package, but the hard work of convincing Greek lawmakers has only begun.

Papademos will meet with leaders of Greece’s political parties today after several delays. He does so as workers again walked off their jobs in protest of recent austerity measures.

Some analysts assert that Greece should simply default as soon as possible to provide some kind of relief to the region’s debt crisis.

“This bailout is certainly not the answer for anyone, for Greece, for the euro zone, for the world. Greece should default instantly, immediately, without any talk of leaving the euro,” Yanis Varoufakis, Professor of Economics at University of Athens, tells CNBC.


Recent Posts
Contact Us

Drop us a note and we will get in touch soon!

Not readable? Change text. captcha txt

Start typing and press Enter to search