local time on the 20th, the Greek Government and the International Monetary Fund (IMF), the European Union and the European Central Bank held meetings to make progress, but not yet able to ensure access to the next batch of bailout funds to reach an agreement, some market participants began to speculate that Greece breach of contract will be inevitable. Greek government officials disclosed that the government will announce the new austerity measures discussed with international creditors.
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Previously, the Greek government cabinet held an emergency meeting to discuss further measures to cut expenses and streamline government agencies and international donors to recognize the country's deficit reduction, resulting in Next assistance funds. Venizelos, yesterday warned that if Greece does not have access to international relief funds required to make progress in deficit reduction agenda, the country's economy will collapse risk. Venizelos also acknowledged that Greece will have to take further austerity measures in order to achieve the deficit reduction targets required by international creditors.
Greek Cabinet held an emergency meeting to discuss further steps to streamline the government agencies and international donors recognized the country's deficit reduction work. Greek finance minister warned yesterday that if Greece does not have access to international relief funds required to make progress in deficit reduction agenda, the country's economy will collapse risk.
the past more than a year, Greece rely on external assistance to bail out. July this year, the EU summit on the second round of the Greek rescue agreement, but the precondition for Greece to implement a series of harsh austerity measures.
the Greek government to discuss a new round of austerity measures
market participants generally expected, the Fed not even launched the third round of quantitative easing (QE3), will also continue to further easing of monetary policy, the introduction of a policy of trading short-term and long-term government bonds to stimulate the sluggish economy. The Bank of England yesterday announced the latest minutes of the meeting, the country's monetary policy committee may consider implementing a new round of quantitative easing to boost the faltering economy. In additionWorld Steel Pipe , the British Government is also considering the introduction of the £ 5 billion in economic stimulus measures.
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affected the Asia-Pacific stock markets were mixed yesterday, European stock markets opened lower on the three major stock indexes intraday decline in more than 0.5%. In the European trading session yesterday, the euro-dollar exchange rate fell below the 1.3700 level, close to 0.5% intraday decline world pie network information .
U.S. and British central bank to further ease monetary policy
(This article Source: Securities Times: Ng Ka Ming)
The IMF also sharply down to the next two years, global economic growth is expected, and warned the United States and Europe can not quickly solve economic problems, likely to fall into recession next year. In this regard, the global central banks are standing at a crossroads, the central bank policy in Europe and America tend to loose.
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According to foreign media reports, the Greek government yesterday held a cabinet meeting to discuss a new round of austerity measures, these measures include speed up public sector layoffs, tax increases and shut down dozens of publicly funded institutions.
order to expedite a new round of assistance, the Greek government and the IMF, the European Union and European Central Bank held a conference call, but the Greek Deputy Prime Minister Venizelos said that the conference call has made satisfactory progress, but not yet to ensure that the next batch of bailout funds on agreement, talks will continue in Washington this weekend. At the same time, the EU and the IMF experts will continue to work in Athens, Greece to complete the 2011 budget targets, and to prepare the 2012-2014 budget.
Greek aid talks postponed to the weekend