This week I have devoted the time slot for this blog to a story about Goldman Sachs that I came upon while researching a post for this blog.The Goldman story has been published in Wall Street Workbook,which you may access from the link list in the right hand column.Still,here are some notes on the European debt crisis.
France says the Euro-zone summit today,Thursday,will send a strong message.They are still discussing the share of the private sector in the Greek rescue.
After all the talk that has already gone on,scepticism about the summit may be widespread in the community of financial observers.Will this summit really resolve the issues?It may be just another photo op and delaying tactic-so the feeling goes.
Secretary of State Hillary Clinton was in Greece recently to express support for all the Papandreou government has done to impose austerity.The situation today is much different than two years ago thanks to the new measures approved by parliament,Greece pointed out.It was indeed a strong and positive first step.Hopefully Europe will get behind Greece with any practical help it really needs now.The serious risk of contagion makes it imperative that they do so.
Update:The Euro-zone countries have agreed a 109 billion euro aid package for Greece and potentially other troubled countries.This sent stocks decidedly higher worldwide.
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