Business

China possibly owning 25 billion euro Greek debt.
by Milota Sidorova

Greece can be the first one to go. The situation brought by this country among Eurozone members is apparently no good. One can say, it's really serious. The debt-ridden country is taking place in magazines all over the world. The perspective is no good either. The first option for the country is to start save and cut wherever is possible. The economy along with everything else (industry, business, tourism, services and the people), hit by the crisis would suffer and it's not known whether it could do it. The consequences of saving mode would hit the living standard and increase the difference among poorest and the richest classes. The consequences could lead into destabili! zation of Greek society and serious problems, including broken status of the common currency. The second possibility is to take a loan. International Monetary Fund has been already knocking on the door, but there seems to be another player in the game. China. According Greek representatives China could lend the amount of about 25 billion euro. The loan of such size would improve the position of China within Europe. China is now the major owner of American debt and with growing economy this would be the second line to strengthen its own interests.Being a donor as well as executor of national debt, it means to control the whole region. Greece is not the only one country having had the problems with debts. According to Wall Street Journal, Portugal and Spain as well as the other Balkan's states could slid into huge debts. European banks and organizations have been trying to adjust to the situation. European Central Bank announced it was going to keep the interest rate on 1 pe! rcent level while Bank of England maintained the lending with ! 0.5 perc ent interest rate.

related story (sgx16357): http://www.france24.com/en/20100204-european-economy-ecb-ban...

by Milota Sidorova for SigEx Ventures (http://sigexventures.com)

SigEx Ventures's matrix of properties are quickly becoming leaders in digital telebroadcasting, free content delivery allowing people to easily talk, view, upload and share through free online TV broadcasting, free unlimited global calls, video blogs and SMS. SigEx Ventures invests in projects deploying "free" to add-on royalty revenue models

posted by Blog TechSource @ 8:32 AM