Greece Forced To Borrow More From Markets

Debt-laden Greece has been forced to tap the financial markets further to avoid bankruptcy after Eurozone finance ministers delayed a crucial aid payment.

The country, which faced a bond repayment on Friday it could not afford, was banking on Eurozone finance ministers releasing a long-delayed 31 billions euros (£23.5bn) to meet the bill.

But at a meeting on Monday night the ministers said they would have to gather again on November (Xetra: A0Z24E – news) 20 to make a decision because there was still work to do on finalising the details of the bailout.

Source and full story: Yahoo / Sky News, 13 Nov 2012

Tom Sullivan