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Swedish finance minister, Anders Borg warns of Greek bankruptcy

Thursday, 05 July 2012
Swedish Finance Minister, Anders Borg (Moderate) does no longer see a Greek state that will not reach bankruptcy.
"The most likely scenario is that we get some sort of default in Greece," he said to radio Sweden on Thursday morning.

According to Borg, Greece's public debt unsustainable, even if the country's international lenders - against all odds, according to finance minister - agrees to mitigate the conditions. He refers to assessments that the mountain of Greek debt would be 120 percent of GDP.

“One get really uncomfortable when one has such a weak growth conditions such as in Greece,” says Anders Borg to radio Sweden.

This afternoon the Greek new Prime Minister, Samaras will hold an initial meeting with the so-called Troika, ie the European Commission, IMF and European Central Bank.

The Prime Minister will request that this troika alleviates demands on Greece, including giving it more time to meet the objectives. Greece promised in return for the equivalent of two thousand billion (Skr2 000 000 000 000 in emergency loans. The country is in its fifth year of recession and the decline continues.
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