Greece on the Verge of Bankruptcy

In a conference call earlier today, Greek finance minister, Evangelos Venizelos, spoke with the “troika” — the Commission, the European Central Bank and the International Monetary Fund — with the hopes of convincing them that Greece will be able to pay its debts and should continue to receive financial assistance. The phone call didn’t go as well as Greece had hoped it would. But then again, the door has not completely closed for them either.  A follow-up call is scheduled for tomorrow.

It is still unclear whether or not the country is going to get another installment from its current assistance package. Without it, Greece is expected to go bankrupt by mid October. Stocks took quite a hit around the world today as a result of this news.

Leave a Reply

Your email address will not be published. Required fields are marked *