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A New Greek Government Will Decide On Business Capital Loans
Greece’s new government isn’t as bad as it sounds. It’s actually given a lot of confidence to European leaders that they will be able to reach a debt deal by January. The reason for their new procedure is their divisive government, which, much like our own, prevents many important decisions from being implemented. This problem has a long history, going back to a civil war in the ’40s.
Yields on Italian bonds just rose to their highest rate in over ten years. Wary eyes turned to Spain, Ireland, Portugal and France where it has become harder for Europeans to take on a working capital loan.
The debt deal requires laying off many government jobs in an already austere economic climate, as well as continued foreign monitoring to ensure that Greece makes goods on its debts and business capital loans. Their interim prime minister will likely be Lucas Papademos, a former vice president of the ECB and former governor of the bank of Greece. Depending on how the unions react to his austerity measures, they will determine how the rest of Europe treats Greece — and itself — during the rest of this decade.
In the United States there hasn’t been much good news either, but at least its easier to get a working capital loan here.
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Posted on: Monday, November 7th, 2011 at 3:45 pm
Posted in: working capital loan
Tags: business capital loan(s), working capital loan