Monday, May 3, 2010

Greece secures $146billion to prevent a default

Credit default swaps show that the price to insure Greek debt has dropped from "very awful" to "awful" prices, as the country officially accepted a $146billion bailout.  About 73% of the funds will come from the EU, while the United States gets to chip in a large amount of the rest, which will be footed by the International Monetary Fund.

Greek newspapers are trying to help the populace deal with the massive upheaval that is facing them, as a third of the country works for the government.

And the riots continue....
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