Rogers said the UK coalition government needed to go further in order to avoid financial catastrophe.
“They [the government] are not doing it. They are saying they are doing it but they are not. They are saving £1 billion ($1.6 billion) here or there but they are not doing what they really need to and I’m not sure the government would survive the kind of pain that is really required," he said.
Greece:
An influential member of Germany's governing coalition backed the possibility on Tuesday of easing the terms of Greece's euro zone bailout, a move that might help Athens better weather the debt crisis.
Michael Meister, deputy parliamentary leader of Chancellor Angela Merkel's Christian Democrats, said he saw logic in extending the repayment schedule for the 110 billion euros of loans granted to Greece on May 2, 2010.
Eurozone:
The euro's slide accelerated Friday after a report that Greece could leave the euro zone. The common currency just hit session lows against the dollar, Swiss franc and yen.
The euro fell as low as $1.4420, from about $1.4532 late Thursday, according to EBS via CQG. The common currency fell as low as CHF1.2628, its lowest level against the franc since March 18.
The euro dropped to Y116.12, its lowest level against the yen since March 29.
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