EU Emergency Summit: Greece deal may result in selective default; Easing of burdens on Ireland and Portugal also expected
Jul 21st, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Eurozone leaders have gathered in Brussels for an emergency summit to agree a second Greek bailout that would curtail contagion to other members of the 17 member country currency bloc. Last night in Berlin, it's understood that the leaders of Germany and France agreed a mechanism that would involve Greece being declared in selective default.