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International Stocks Down on news of delayed Loans to Greece. Jul 14, 2011 // Anthony IsabelNo Comments »International Stocks Down on news of delayed Loans to Greece.
20 June 2011
* International stocks were down Monday on news of delayed bail-out loans to Greece. The world is watching and reacting to the delay Europes finance ministers have made on extending emergency loans to Greece. Stocks, the Euro and crude prices fell once again on Monday as news spread of the delay. The pressure is mounting on Greece to impose harsh austerity measures before any bail-out will be made.
* World stocks are measured by MSCI All Country Index that shows a drop of 0.6 percent after a three week decline amid the news of Greece fiscal woes. The Euro finance ministers after meeting into the early hours of Monday have indicated that the next tranche of the EU/IMF aid will be paid by mid July avoiding default by the Greek government. Yet the pressure persists on Athens to bunker down and cut spending, raise taxes and generate other revenues first.
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