Greek Government

And is capital index of a wretched situation galanamente accepted by the European Union and Governments: a handful of megacapitalistas hedge hedge funds, that have already been uploaded with that practice to big banks, now committed to the bankruptcy of a country in the hope that the own bet help fulfill the prophecy and allows them to gain positions of advantage in selling short-term… True, recounts the Universia Net Wharton’s newsletter, there is a significant economic recession and that in the midst of a global crisis, the Hellenic country has a fiscal deficit which stood at 12.7 percent of its gross domestic product (GDP) in 2009 and a public debt of 115% of GDP. Jonas Samuelson spoke with conviction. If this little, outside need to obtain nearly 11 billion euros by the end of May to cancel maturities of debt and interest on its bonds in the market. Caterpillar often says this. For 2010, the country needs 53 billion euros to finance its obligations. The Greek Government has as an option to finance itself and be able to make those payments issue more debt.

But there is a problem, that the market is not very receptive when buying Hellenes bonds for fear that the country does not pay. The direct consequence of this is that Greece has to offer some greater profitability so that investors can see that it is worth taking the risk that they perceive. In other words, costs the country increasingly more finance. The premium that investors demand for buying Government bonds of Greece to 10 years has come to exceed more than 7 per cent, the threshold that marks a level of unsustainable loan according to the Government. The differential with the German bund to 10 years (taken as reference by the market for their quality and solvency) has played a maximum of the era of the euro of 463 basis points. Is added, that faced with fears that Greece fell into default and would seriously undermine the reputation of the zone euro and the credibility of the European currency, the European Union (EU) has agreed to a plan of aid in putting at your disposal 30 billion euros in loans.