Euro exit averted, Greece is still on the clock
(CBS News) ATHENS – Greece was holding the world economy hostage this weekend. It had an election that was essentially a referendum on whether to renege on a European bailout of its economy, which could have triggered a seizure in Europe’s banks. Instead, Sunday night, Antonis Samaras celebrated a narrow victory. On Monday morning, he began the task of building a coalition government. There is no time to waste. The Greek government is expected to run out of money as early as next month. It must renegotiate a bailout deal with Europe. There was concern that a different election result could have triggered a run on the banks and possibly a Greek exit from the euro zone. No one here believes Greece’s economic problems are now over, but many are relieved that a crisis has been averted, and it gives many Greeks reason to hope. More in Europe in Crisis “I believe that the future of Greece is in the euro zone,” said George Vernichos, owner of a yacht charter company. Vernichos said that political instability in the country has kept tourists away. “This year it is not so good, but I believe that now after the elections the situation will be much better,” Vernichos said. Like many business owners, 온라인카지노 he said that a pro-European government is Greece’s best chance of making a recovery. “As a businessman I...
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