Financial Regulatory Forum

Greek bailout not under discussion, markets suffer

By Harry Papachristou and Anna Willard

ATHENS/PARIS, Dec 15 (Reuters) – Greece is not discussing a bailout with other European Union countries, Greek Finance Minister George Papaconstantinou said on Tuesday, when financial markets gave his emergency deficit-cutting plan a thumbs down.

Speaking following a meeting with his French counterpart in Paris, Papaconstantinou also said his country was doing everything necessary to reduce its public deficit.

“There is no question of a bailout. There is absolutely no question of a bailout and we are not discussing that with our (European) colleagues,” he told reporters.

“Greece will do what is necessary to reduce its public deficit,” he said before heading to London to meet with investors and his British counterpart.

Investors sold down Greek debt and bank shares on Tuesday, as workers launched protests against planned austerity.

U.S stimulus working, deficit can wait – Summers

Larry Summers   By Emily Kaiser
   WASHINGTON, July 17 (Reuters) – The Obama administration’s $787 billion stimulus package is working despite rising U.S. unemployment and stabilizing the economy must take precedence over tackling the bloated deficit, a top White House economic adviser said on Friday.