Tuesday, August 14, 2012

Senior Merkel ally sends warning to Greece.

Says the article in Al Reuters:

http://www.reuters.com/article/2012/08/13/us-germany-greece-idUSBRE87C09H20120813

Of the 300 conditions imposed on Greece, 210 remain unfulfilled according to the last report. The Merkel ally warns Greece that failure to carry out agreed on changes will result in Germany vetoing the next bundle (Tranche) of handout due in September. CITI puts the chance of Greece leaving the Euro at 90%. German politicians (along with others) are already planned to aid Greece so it can remain in the EU but leave the Euro block.

Greece can not leave the Euro without defaulting on its debt, re-establish the drachma and revalue its currency down so it can restore its economy.

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