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this two-day meeting in Brussels of EU finance ministers apparently have not caught the point. 16, adopted by the euro-zone finance ministers, a € 78 billion in aid loans for Portugal, but ignited the recent Greek debt restructuring, this meeting does not have any strong response measures. Not only that, including Juncker, chairman of the euro zone Group EU officials first mentioned the possibility to allow Greece to so-called debt "soft restructuring, namely to extend the debt repayment period. Analysts believe that the debt crisis in Greece recently is likely to continue putting pressure on the European bond and foreign exchange markets.
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are participating in the euro area Chairman of the Group of European Union finance ministers meeting, Juncker said that Greece, the debt of some form of "soft restructuring" is possible, which is the EU officials for the first time explicitly mentioned Greece is a possible debt restructuring. The Juncker day ago, said the euro zone will not consider the Greek debt restructuring, but does not exclude the possibility of "repackaging" of the Greek debt, that is to extend the loan repayment period.
Citigroup currency strategist at Montgomery Ivanov said that the euro next few days, could face the test of will against the opposition of the Greek debt restructuring is likely to continue to increase, thus making the Greek debt problem has become more difficult.
in the hope in their eyes in the market, this two-day meeting in Brussels of EU finance ministers have finally come up with that "hard goods". 16, the 17-country euro zone finance ministers announced an aid program for Portugal, agreed to in the next three years, and the International Monetary Fund (IMF), a € 78 billion to the same debt "high-risk countries assistance loans.
Portugal was € 78 billion rescue
in part by Portugal's aid program approved support for the euro against the dollar on the 17th for the second consecutive trading day higher. As at 17 19 GMT, the euro against the U.S. dollar rose 0.4 percent, reported 1.42 near.
In this context, market speculation that Greece may soon be forced debt restructuring. Some investors hope that the EU finance ministers' meeting this week the introduction of additional measures to aid Greece. However, the proposal did not get the unanimous support of the rich countries in the euro zone some World pipe network reported that the world's steel pipe network to provide the world's steel pipe network editor , many countries require Greece to take greater fiscal austerity and the sale of assets measures. In addition, some countries put pressure on the holders of the Greek bonds, the latter shared the loss.
concerns for the Greek debt situation heating up again recently, the Greek government bonds, credit default swaps continued soaring, Greek-year note's yield last week, a staggering 27%. Greece in May last year from the EU and the IMF 110 billion euros in aid commitments, but a year later the country's debt situation is still grim. Last year, Greece's fiscal deficit-GDP ratio as high as 10.5%.
Under the program, the next three years, Portugal will receive 78 billion euros of aid funds, the EU is responsible for providing 52 billion euros, the IMF 26 billion euros.
after Greece and Ireland, Portugal in April this year, also to the European Union and the IMF for emergency loans. In mid-June, Portugal had nearly € 5 billion of maturing debt to be repaid. According to the Portuguese Finance Minister Santos said Portugal at the end of this month or early June at the earliest will be able to receive the first batch of 18 billion euros of loansWorld Steel Pipe , which will help Portugal meet their urgent needs.
However, analysts said, the EU finance ministers meeting for Portugal introduced a rescue package, but the outside world to look forward to more in fact, the EU can take effective countermeasures for the plight of Greece. Before Greece's debt restructuring crisis is resolved, the euro area financial markets may still be under pressure.
EU first mention of the Greek debt restructuring