More funds may are needed to rescue Greece

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Source: Forexfactory
The EU may need more money to reduce the public debt of Greece to about 120% of the GDP by 2020, said Olli Rehn, the Economic and Monetary Affairs Commissioner. He also expects Greece to reach a consensus with private bondholders on the debt swap before the end of January. At the same time, the EU and IMF have to update the Greek debt sustainability analysis to ensure the country will manage to meet the target of 2020 despite bleak economic outlook, he added.


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Fri, 27 Jan 2012 10:32:19 GMT

US home sales tumbled 2.2% in December

New home sales in the US declined by 2.2% in December, reported US Census Bureau. The new home sales declined to 307,000 units on a seasonally adjusted basis while analysts expected the sales to rise by 2% to 320,000 units. Following the data release, the US Dollar inched lower against the Euro and the pair EUR/USD gained 0.44% to 1.3165.

Fri, 27 Jan 2012 10:48:19 GMT

Samsung profit surges on smartphone sales

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