Forex Blog

May 3, 2010

Greek Default Averted But Markets Remain Indifferent

After finally agreeing to a US$146.2bn (£95bn) bailout for Greece, initial market reaction remains subdued as insiders question if the EU / IMF sponsored rescue package will be sufficient. While the May 19th deadline when the next round of debt repayment comes due is no longer a concern, Greece’s long-term outlook is still fraught with challenges.

Source: BBC News

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