Greek bonds plunge again / Athens to accept reform for €45bn

Greek bond markets plunged on the 26 April 2010 amid growing worries among investors that the country will need to restructure its debts in spite of a proposed €45bn assistance package from the international community.

As the euro sank against the dollar and dropped to its lowest versus sterling since August 2009, European leaders raised the pressure on Germany to decide quickly whether it would provide its share of aid under the joint eurozone and International Monetary Fund rescue plan.

Angela Merkel, German chancellor, sought to reassure German voters and the financial markets that her government would defend the stability of the euro at all costs, while insisting on tough conditions for a multibillion-euro loan to Greece.

ESO: Background information: German MPs urged to back Greek loan http://www.europeansources.info/record/german-mps-urged-to-back-greek-loan/

ESO: Background information: Greek rescue becomes exercise in cat-herding http://www.europeansources.info/record/greek-rescue-becomes-exercise-in-cat-herding/

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