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Greek government denies default rumors

September 10, 2011, 2:12 UTC+3
On the rumors of an impending default the gap in interest rates between the ten-year Greek bonds and similar German debt the markets use as a benchmark, jumped to 19.42 percent
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ATHENS, September 10 (Itar-Tass) —— The Greek government has categorically denied rumors Athens may declare a default this weekend, contrary to claims in an unsigned report by the financial agency Bloomberg.

"This is an irresponsible message, which refers to some anonymous information that was sent via e-mail, and which was reprinted by some of the Greek media," said government spokesman Elias Mosialos. He dismissed the rumors as groundless speculations.

On the rumors of an impending default the gap in interest rates between the ten-year Greek bonds and similar German debt the markets use as a benchmark, jumped to 19.42 percent.

Deputy Prime Minister, Finance Minister Evangelos Venizelos called the scenario of Greece’s alleged imminent bankruptcy in the coming weekend as an “organized tide of rumors.”

"This is a bad game, pre-organized speculations, directed against the euro and the eurozone as a whole," said the finance minister, reminding that it was not the first time that such rumors were spreading.

Venizelos said that the main priority for Greece was to fully implement decisions made by the summit of the eurozone on July 21, which decided to grant Athens the second installment of credit support 109 billion euros worth, and to honor the obligations that stem from the agreements between Greece and its partners.

Greek Prime Minister George Papandreou said on Friday after a meeting with businessmen in Thessaloniki, that the government was going to make "major changes" in order to pull the country out of crisis. Papandreou will appear at the Thessaloniki International Fair on Saturday with a policy speech on the economic situation of the country.

Austerity measures being implemented by the Cabinet, have been causing discontent among a large segment of the population. Trade unions, political parties and social organizations have called mass demonstrations against the economic policy cabinet in Thessaloniki on Saturday. Security in the city is maintained by about six thousand police. But there are protesters within the ranks of law enforcement agencies, too. On Friday, protesting police officers, firefighters, port officials and physicians, marched in front of the Thessaloniki Fair Complex on Friday to demand an end to wage delays.

 

 

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