About: Josep Borrell

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Economy & Jobs 13-05-2011

Euro crisis set to flare up as Greek default looms

The debt crisis in the euro zone is being reignited now that it is clear that Greece is not delivering on its promised reforms. Related story on EURACTIV.com: http://twurl.nl/21heul Greece is failing to meet its restructuring targets. This means that Eurozone countries are no longer willing to send money to Athens as part of the European emergency support. Only with very tough measures, the Athens government can prevent this from happening.