Now Greece Probably WILL Receive $8 Billion In Funding From ECB/EU/IMF Troika


Jean-Claude Trichet

ECB President Jean-Claude Trichet just announced that Greece most likely will receive the next round of funding from the European Central Bank, European Union, and International Monetary Fund.

Doubts about receiving this funding surfaced because of reports that Greece will not meet its deficit-reducing and privatization goals for the year.

This announcement could quiet markets squirming over the possibility of Greek default.

That being said, the big task at hand is getting the rest of Europe to approve the completely new bailout agreed to in July. This positive affirmation from the troika implies that Greece's economic reforms have been adequate, and it could help Greece's case a little bit among its neighbors.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/9fg3PMj68SI/greece-will-receive-8-billion-in-funding-from-ecbeuimf-troika-2011-9

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