Greece will decrease its deficit

Note: This section contains information in English only.
Source: BBC
© Scanpix/AFP

The new government of Greece is discussing measures to prevent debt crisis. Finance Minister Evangelos Venizelos made a forecast that the deficit will decline from 9% of GDP in 2011 to 5.4% in 2012. The reason is that commercial banks write off one half of Greece's debts as part of the Eurozone's bailout strategy.

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Fri, 18 Nov 2011 15:32:37 GMT

ABN Amro announced a loss

Following the EU bailout strategy to write off Greek debts, ABN Ampro a Dutch bank suffered losses. The bank today reported a net loss of 54m euros in period between July and September this year as compared to 341m net income for the same period in 2010. The bank possesses 1.4bn euros of Greek loans and had to write off 500m euros from this

Fri, 18 Nov 2011 15:34:36 GMT

Oil Spill near Rio de Janeiro coasts

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