Sunday, July 31, 2011

Italy, Spain Worries Complicate Greece Aid


Investor concerns over Italy and Spain are complicating efforts to deliver Greece its next chunk of rescue aid, underscoring the increasing difficulty Europe faces in reining its more than year-old credit crisis.
Greece is due to receive the next installment of its original, €110 billion ($158 billion) bailout in September. But Italy and Spain, both of which committed to extend bilateral loans to Greece with other euro-zone countries, have seen their own borrowing costs rise recently.
Living up to that commitment could put further pressure on Italian and Spanish bonds, just as officials in Madrid and Rome have been scrambling to reassure markets. Euro-zone finance officials are now considering allowing Italy and Spain to opt . . . . .

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