The Hellenic Radio (ERA): News in English, 10-02-06

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] EU Summit to Center on Speculators' Attack

The economic crisis and speculators games will be the focus of talks during the EU extraordinary Summit meeting next Thursday while after Greece fire spreads to Portugal and Spain's bonds and shares. In the mentime analysts and politicians express concern over domino effect. From New Delhi, Greek Prime-minister George Papandreou spoke of a concerted attack against the euro currency and called on EU partners for solidarity and common action. Talks between Mr. Papandreou and French President Nikola Sarkozy are expected to center on this issue. The two leaders are to meet on Wednesday, one day prior to the Summit meeting.

Next Days Crucial

The eurozone is gripped under the continuing speculators attacks on the euro currency, emerging in south EU member states among them Greece. Strong pressure is spreading to EU shares and bonds bringing losses in European stock markets and the euro falling to a nine month low against the dollar. Articles in Saturday's press considered the next days highly crucial for developments while analysts see EU and ECB intervention as mandatory. Greece, Spain and Portugal spreads went up while risk emerges for even robust eurozone economies. Concluding his official visit to India on Friday, Prime-minister G. Papandreou stressed that targeting Spain and Portugal indicates that speculators and not Greece is the problem in the eurozone

Source: ÍÅÔ - ÍÅÔ 105.8 - ÁNA - ÌPA Related Articles: Greek PM : Concerted attack on euro currency

News item: 32997

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