Now ‘Inevitable’ That Greece Will Default ~ Special EU Meeting Announced For Friday

2

Greek Default

European Union leaders are poised to hold an emergency summit

after finance ministers acknowledged for the first time

that some form of Greek default may be needed

to cut Athens’ debts

and stop contagion to Italy and Spain.

“There will be an extra summit this Friday,” a senior euro zone diplomat told Reuters,

suggesting policymakers have been seized with a new sense of urgency

after markets started targeting Italian assets.

 

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