Author (Person) | Schelkle, Waltraud |
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Series Title | Intereconomics |
Series Details | Vol.46, No.4, July-August 2011, p178-179 |
Publication Date | July 2011 |
ISSN | 0020-5346 |
Content Type | Journal | Series | Blog |
The special summit of heads of state in the euro area on 21 July 2011 has yet again averted the imminent default of a member state. As usual, it was a last-minute deal that meets the country’s financing needs against the promise of fiscal consolidation, structural reform and privatisations. The second programme for Greece foresees less harsh lending terms, and these will also be extended to Ireland and Portugal. For instance, interest rates come down to those of the Balance of Payments Facility for non-euro member states, currently 3.5%. [Full text of articles can be found in the Intereconomics Archive two years after the initial publication] |
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Source Link | Link to Main Source http://www.intereconomics.eu/downloads/getfile.php?id=780 |
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Subject Categories | Economic and Financial Affairs |
Countries / Regions | Europe, Greece, Ireland, Portugal |