Eurozone finance ministers discuss plans for buybacks of Greek bonds; Italy comes under market siege; Greece reports deficit of 28% in H1 2011
Jul 12th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Eurozone finance ministers at the monthly meeting of the Eurogroup in Brussels on Monday evening, discussed a plan for Greek bond buybacks and refused to rule out a temporary default. Meanwhile, also on Monday, Italy, the single currency area's third-largest economy, came under market siege and in Greece, the finance ministry in Athens reported a budget deficit of 28% of GDP (gross domestic product) in the first half of 2011.