Greece heading for a short term respite
Posted by admin . Published on 21 March 2010, Received
Greece is running on abnormal level of deficit, and it is not able to borrow further from the global markets, due to the rating downgrade by the global rating agencies. European Union members are readying themselves for helping out Greece only for the short term, through some token aid and small time commitments.
Over the next one year , unless there is a overall global economic recovery, we can expect a major shakeout for Greece and also for the European Union.
