In a metaphorical walk around debt crisis block, Greece’s prime minister has said that he believes his country is “turning the corner” as recovery efforts by the ransacked country may have started to pay off. Greece avoided defaulting on their debt last month after they were awarded a $131 billion rescue package from eurozone countries and the International Monetary Fund. —JCL Al-Jazeera English: Greece is “turning the corner” as steps taken to fight its debt crisis start paying dividends, the country’s prime minister has said. “Today is the first time when I can look to the future with more optimism,” George Papandreou told members of the Institute for International Finance (IIF) in Austria’s capital, Vienna, on Friday. “We have taken difficult decisions, tough but necessary decisions, and we are now witnessing the first signs that we are turning the corner.” After accumulating massive public debt and overspending, Greece avoided a default last month through the first instalment of a 110 billion euro ($131bn) rescue package from its 15 euro currency partners and the International Monetary Fund. Read more Related Entries June 11, 2010 Stock Market Slumps on Consumer Spending Concerns June 11, 2010 The Five-Morning-After Pill?
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Turning The Crisis Corner
