IMF looks at offering Greece more cash

Article reports that the International Monetary Fund was looking at raising April 2010 its share of Greece’s financial rescue package by €10bn amid fears that the planned €45bn bail-out would fail to prevent the country’s debt crisis from spiralling out of control.

Stock markets on both sides of the Atlantic tumbled on the 27 April 2010 and the euro fell below $1.32 – a key level not breached in more than a year – after Standard & Poor’s downgraded Greece’s long-term credit rating to junk status, the first eurozone member to have its debt cut to junk.

EurActiv reported that Eurozone leaders were discussing the possibility of holding a special summit in Brussels on 10 May 2010 to activate the aid package for Greece.

Deutsche Welle, 27.4.10: Europe reels from downgrade of Greek debt to 'junk status' http://www.dw-world.de/dw/article/0,,5512933,00.html

France28.4.10: Greece reaches out for emergency loans after credit downgrade http://www.france24.com/en/20100428-greece-reaches-out-emergency-loans-after-junk-credit-downgrade

EurActiv, 28.4.10: Spain calls 10 May summit over Greece http://www.euractiv.com/en/euro/spain-calls-summit-10-may-over-greece-news-488390

Kathimerini, 27.4.10: Talks on loans progress as debt clock ticks http://www.ekathimerini.com/4dcgi/_w_articles_politics_100003_27/04/2010_116706

ESO: Background information: Greek bonds plunge again / Athens to accept reform for €45bn http://www.europeansources.info/record/greek-bonds-plunge-again-athens-to-accept-reform-for-e45bn/

BBC News, 27.4.10: Greek bonds rated 'junk' by Standard & Poor's http://news.bbc.co.uk/1/hi/business/8647441.stm

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