"SELF DETERMINATION IS KEY TO THE WORLD PEACE"
Euro zone Ministers Say Banks To Take Bigger Loss On Greek Debt?
[Sunday, 23 October 2011 21:19] Featured, General, News
Written by: RFE RL
October 23, 2011
(RFE/RL) — Eurozone states have agreed that banks must accept substantially bigger losses on their Greek debt.
Jean-Claude Juncker, Luxembourg’s prime minister who chairs the 17-member eurozone group, announced the agreement as eurozone finance ministers headed into a second day of talks in Brussels.
He would not say how big the banks’ contributions should be, but any substantial increase in writeoffs would increase concerns about the banks’ ability to withstand the losses and the need to shore them up.
On October 21, eurozone finance ministers agreed to unlock the next tranche of Greek bailout funds, potentially saving the debt-stricken country from default.
Once the 8 billion-euro ($11 billion) loan is backed by the International Monetary Fund (IMF), as expected, officials said Athens should get the funds by mid-November.
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RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established.
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GLOBAL PEACE SUPPORT GROUP - UK - TIRELESSLY WORK ON THE CONCEPT OF:
"SELF DETERMINATION IS KEY TO THE WORLD PEACE"
MOURNS ON THE CONTINUED TRAGEDY OF THE PEOPLE OF North & East of Tamil EELAM WITH THE HOPE OF ALL OF OUR ENDEAVOURS WOULD BRING AN END TO THOSE SUFFERING DURING THE YEAR AHEAD.
The International community has a duty towards the long suffering Sri Lankan Tamil population to restore their rights of SELF DETERMINATION.
Global Peace Support Group - believes that this is the ONLY way for a permanent PEACE in Sri Lanka.
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