Monday, April 26, 2010

Saving Greece Is Mission Impossible

http://www.businessinsider.com/greece-mission-impossible-2010-4

Everyone is still talking about Greece, as its EU-IMF bailout teeters on the brink because the Germans don't believe the Greek's have the stomach for deep budget cuts.

Germany doesn't want to invest in a country that doesn't fulfill its promises, and who can blame them looking at the horrors of the Greek debt situation.

This is a country that is still banking on near 6% GDP growth to power its recovery and help it pay down its debt. But it has creditors at the door, and increasing interest payments that the proposed €45 billion ($60 billion) may not even be able to meet.

Barclays Capital has the breakdown, looking at just how bad Greece is and who is going to be impacted by the spread of debt worries.

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