Over the weekend, Ireland and Portugal got some much needed breathing room: they now have more time to pay their loans back. Ireland and Portugal now have seven years to pay back the emergency loans that they demanded during the crisis. This allows them to have better access to private lenders and eases the pressure on the government's public finances.
Link: http://www.nytimes.com/2013/04/13/business/global/euro-zone-finance-ministers-gather-in-ireland.html?pagewanted=all
1 comment:
I find no sense in the bailout for Cyprus at this time. Is this a test that Euro Central Commission wants to do before taking action on bigger economies? Above all, I believe, they are wasting money for something not really of emergency.
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