JackTimes.com - Business

European countries benefit from Greek crisis

The Germans and the French have fully taken advantage of the crisis in Greece.

Le Figaro journalists claim that the fall the Euro has recently experienced became an unexpected hand of help for the great European exporters.

Everything works according to the principle of communicating vessels.

Money redrawn from Greece are relocated in banks from other European states. The more de financing costs raise for the Greeks , the more they decrease for Germany and France, as investors pick safer markets to place their money on.

Economists, however, have pointed out that, although, apparently for now European countries are taking advantage of the Greek situation, they should not be interested in a long term Greek crack-up.

That is because the financial entities in the European area, especially those in France and Germany, detain almost 70% of the Greek debt.

Related posts:

  1. Panic on the New York Stock Exchange Fears of a new credit crisis in the euro area,...
  2. Slovenia to take loan to help Greece The government in Ljubljana is considering a foreign loan...
  3. Green light for Greece The German parliament approved yesterday the contribution of 22.4 billion...
  4. Greek strikers hit Athens streets over austerity plan One day ahead of a European general strike, the...
  5. Greeks are buying gas from Bulgaria George Papandreou, the Greek prime minister has denounced in front...
Posted by KarlSpore on May 6 2010 Filed under Finance. You can follow any responses to this entry through the . You can leave a response or trackback to this entry

Leave a Reply

Photo Gallery

Contact Us | Terms | Privacy Policy | Advertise with us | Earn money
©2010 JackTimes.com - All rights reserved.