Thirty2 Degrees

The International Monetary Fund, after seven long hours of negotiation with the EU, rejected in the early hours of yesterday releasing the funds of 12,000 million euros for aid to Greece. The Ministers of economy and Finance of the euro zone failed in the attempt to reach an agreement to supply to Greece the fifth tranche of aid committed in May 2010 and who should deliver at the end of June to avoid greater evils. The IMF requires as a condition for giving green light to these funds (in your case, 3.3 billion of the 12,000 in total) the commitment of the eurozone to launch a second rescue plan. In turn, only Germany is willing to participate in aid if the banks agree to pay part of the Bill, and if Athens approves finally new austerity measures. Markets have reacted today to the lack in accordance with sharp falls on the stock exchanges and an upsurge of pressure against the debt of Greece and the rest of the euro, among them Spain peripherals. Source of the news:: Salgado discards the contagion to Spain after the blocking of aid to Greece.