(Reuters) – Euro zone paymaster Germany, relieved at a narrow election victory for Greece’s pro-bailout parties, signaled on Monday it may be willing to grant Athens more time to meet its fiscal targets to avert a catastrophic euro exit.
But financial markets’ relief that the 17-nation European currency area had avoided plunging deeper into crisis was mitigated by concern about unresolved problems in Greece, the lack of a comprehensive plan for the euro zone as a whole and weakness in the world economy.
Liquidity moves markets!
Follow the money. Find the profits!German Foreign Minister Guido Westerwelle said the substance of Greece’s austerity and economic reform program, agreed in exchange for a second EU/IMF rescue, was non-negotiable, but the timing could be adjusted.
via Relieved Europe hints at more time for Greece | Reuters.
