LONDON Greece seems to have edged back from the financial abyss\u2026again.<\/p>\n
On the eve of a large tranche of debt coming due Wednesday, the European Union has handed over the equivalent of 18 million dollars in bail-out money.\u00a0\u00a0 That plus IMF help should tide over the troubled Greek government for now.<\/p>\n
\u201cThe first precipice was May 19th<\/sup>,\u201d John Sittilides of Trilogy Advisors told Fox News, \u201cthe obligation will be paid off.\u201d<\/p>\n With EU finance ministers meeting today in Brussels, the actions of the international community have stabilized the markets in Europe as well as the common currency, the Euro.\u00a0 Both were down sharply Monday.<\/p>\n \u201cWe are seeing more stability,\u201d Bronwyn Curtis of HSBC told us, \u201cPeople who feared risk have already gotten out.\u201d<\/p>\n Still no analysts feel Europe or the EU is out of the woods. Some have said the long-term stability of the Euro remains in question.<\/p>\n \u201cThere are deep-seated problems,\u201d Curtis added, \u201cA lot depends on politics.\u201d<\/p>\n Some predict the Euro will sink to parity with the US Dollar in the coming weeks.\u00a0\u00a0 The Euro is now roughly worth $1.23.\u00a0 Some do not preclude some countries even falling out of the Eurozone.<\/p>\n \u201cThe Euro has been found wanting,\u201d Howard Wheeldon of BGC Partners told Fox.<\/p>\n Meanwhile there is a war of words being conducted between the US and Greece.\u00a0\u00a0\u00a0\u00a0<\/p>\n Greek Prime Minister George Papandreou was quoted Sunday saying that an investigation into US bank conduct during the Greek troubles was possible and that a lawsuit against certain US banks could not be ruled out.<\/p>\n At the same time the US Senate voted to add an amendment to a finance reform package Monday aimed at blocking US funding of IMF moves to help countries in financial trouble.\u00a0 A move aimed some see at Greece.<\/p>\n According to Fox News freelance Producer Anthee Carassava in Athens, there doesn\u2019t seem to be any \u201crepercussions\u201d \u00a0in Greece to this.<\/p>\n The Greeks, according to Carassava, are now more taken with the resignation of the Deputy Tourism Minister after it turned out her husband may have tax arrears of nearly $7 million dollars!<\/p>\n","protected":false},"excerpt":{"rendered":" LONDON Greece seems to have edged back from the financial abyss\u2026again. On the eve of a large tranche of debt coming due Wednesday, the European Union has handed over the equivalent of 18 million dollars in bail-out money.\u00a0\u00a0 That plus IMF help should tide over the troubled Greek government for now. \u201cThe first precipice was […]<\/p>\n","protected":false},"author":4512,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-568235","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/568235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4512"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=568235"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/568235\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=568235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=568235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=568235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}