Greece is looking for help by Barbora Misakova

If you cannot wait for the help from your parental union, then you have to look for it somewhere else. And the United States are the best place to go. Greek Prime Minister George Papandreou is a bit desperate and so he decided to urge major economic powers to crack down on market speculators. He believes that speculators and bankers are responsible for the financial crisis and terrible situation Greece got into. As he is convinced that these speculators could trigger another global financial crisis, he came on Monday to USA to urge the Group of 20 nations to crack down on them. If Greece is still facing the borrowing rates far higher than those charged to other nations, thi! s country will collapse under the weight of debts very soon. As Papandreou said: “If we continue to borrow at very high rates … twice, for example, the rates of Germany, that would be unsustainable within a common currency.” Greece is in big trouble. Its borrowing costs have skyrocketed in recent months and government had to take tough measures to tighten its budget. What is worse, looking for some other help was necessary. But Papandreou stressed on the first day of a four=day U. S. visit that Greece is not asking for money or bailouts. As he said: “we want to be equal partners as we’ve taken these measures … to be able to get what others also can get, which is basically normal rates of borrowing.” The Greek Prime Minister will meet U. S. President Barack Obama today.

related story (sgx16697): htt! p://www.france24.com/en/20100309-greece-papandreou-obama-...
by Barbora Misakova
for SigEx Ventures (http://sigexventures.com)
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