(Bloomberg) — Greek Finance Minister George Papaconstantinou told investors they will “lose their shirts” if they bet cash-strapped Greece will default, as his government went toward securing emergency aid before debt payments come due in mid-May.Speaking to reporters in Washington, where he’s negotiating terms for a three-year loan package with the International Monetary Fund and European governments, Papaconstantinou expressed confidence the talks will be “concluded rather soon” and said his country wouldn’t restructure its debt.With 8.5 billion euros of Greece’s bonds maturing May 19, finance chiefs want a swift agreement amid concern any delay may trigger a further sell-off in its assets and hurt global markets.
Posts Tagged ‘Finance Minister’
Papaconstantinou Tells Investors Don’t Attack Greece
April 25th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Attack Greece, Bloomberg, Bonds, Budget Deficit, Debt Payments, Dominique Strauss Kahn, Emergency Aid, European Governments, European Partners, Finance Chiefs, Finance Minister, Global Markets, Gross Domestic Product, Imf, International Monetary Fund, Lifeline, Loan Package, Managing Director, Need For Speed, Swift Agreement 
Comments OffGreek banks seek government support as investors flee
April 8th, 2010 Before You Invest The four largest banks in Greece have questioned for government support as investors continue to go their funds out of the financially-troubled country.George Papaconstantinou, Greece’s finance minister, has announced that the banks “have questioned for access to the remaining funds of the support plot”, reports the Financial Times.The €28 billion ($37 billion) support plot was originally drawn up in 2008 at the height of the credit crunch.National Bank of Greece, EFG Eurobank, Piraeus Bank and Alpha Bank have now requested around €17 billion in loan guarantees and special bonds.
Posted in Finance Fraud Tags: Alpha Bank, Bank Of Greece, Banking System, Banks In Greece, Bonds, Citizens, Credit Crunch, Efg Eurobank, Finance Minister, Financial Times, Fitch Ratings, Government Support, Greek Banks, International Concern, Loan Guarantees, Months Of The Year, National Bank Of Greece, Piraeus Bank, S Central, Sum Of Money Comments OffU.S. criticizes U.K. proposal to tax financial transactions
November 9th, 2009 Before You Invest Treasury Secretary Timothy Geithner voiced disapproval with a proposal from U.K. Prime Minister Gordon Brown for a tax on financial transactions. Geithner said he would not support the tax but appeared to soften his stance later, saying the International Monetary Fund would be responsible for coming up with possibilities.
Posted in Finance Fraud Tags: Borders, Contingent Capital, Finance Minister, Financial Transaction, Financial Transactions, Gordon Brown, Imf, Insurance Fee, International Monetary Fund, Levy, Mr Brown, Opponents, Possibilities, Prime Minister Gordon Brown, Proposal, Proposals, Systemic Risk, Treasury Secretary, Voiced Disapproval, Volatility No Comments »G7 meeting in Rome – Japan’s Minister of Finance Drunk?
February 16th, 2009 Before You Invest Japan’s Minister of Finance, Shoichi Nakagawa, has blamed a heavy dose of cold medicine for a slurred and baffling performance at the G7 meeting in Rome, where the helmsman of the world’s second largest economy appeared to be incapably drunk. Mr Nakagawa claimed to have taken only a few sips of wine – “no more than a glassful” – ahead of the news conference, but he seemed too addled to state correctly the current level of Japanese interest rates.
Posted in Finance Fraud Tags: Cold Medicine, Democratic Party, Embarrassment, Finance Minister, G7 Meeting, Heavy Dose, Helmsman, Interest Rates, Japan Today, Minister Of Finance, National Interest, News Conference, Opposition Mps, Resignation, Rome, Secretary General, Shame, Shoichi Nakagawa, Sips, Yukio Comments Off
