Germany's Merkel Wants to Verify Fiscal Cuts Before Releasing Funds to Greece

Despite market sentiment that suggests a Greek debt default is ahead, it won't occur if Europe remains on the path it laid out Friday when the Mediterranean nation asked for implementation the European Union's bail-out package. And that path includes tangible evidence by Greece, forwarded to German officials, that it's implementing the first phase of austerity measures.



German Chancellor Angela Merkel said "first I want to see the program," before Germany releases any funds to debt-plagued Greece, Bloomberg News reported Tuesday. Merkel's Christian Democratic party faces state-level elections in May at a time when most German citizens are opposed to the bailout.

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Germany's Merkel Wants to Verify Fiscal Cuts Before Releasing Funds to Greece originally appeared on BloggingStocks on Tue, 27 Apr 2010 16:40:00 EST. Please see our terms for use of feeds.

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