Greeks support austerity

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Source: Marketwatch
Greek voters elected a pro-austerity parties on Sunday, easing concerns about short term future of Euro Area and sending financial markets higher. Preliminary results show that pro-austerity force New Democracy has won with 29.7%. The anti-austerity party is likely to end second with a 26.9% gain. Currently ruling Pasok party gained 12.3%. Analysts expect that pro-austerity coalition consisting of New Democracy and Pasok party is likely to be formed. 
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Mon, 18 Jun 2012 06:37:54 GMT

Greece parties in rush as country's cash reserves diminish

Greece's two historically competing parties are rushing to build a coalition as the nation's cash reserves fade, bank deposits leave the country and EU requires re-introducing austerity measures before providing more bailout financing. Greece may run out of cash in the middle of July. EU political officials demand Greece to renew spending cuts in order to receive next portion of USD 305 billion rescue

Fri, 15 Jun 2012 17:39:48 GMT

UK and France increases Treasury holdings

The United Kingdom and the France increased their holdings of the US treasury securities by more than 26% in April. U.K.'s holding increased by 26.5% and reached USD 154b. France's holdings increased by almost 30% and reached USD 59.4b. The biggest buyer of US securities remained China which holds  USD 1.15T as by now. Specialist state that US treasuries ares till considered safe

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