Brazil Announced Aid of $ 286 Million to Greece

Meshuga

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Fri May-07-10 03:05 PM
Original message

Brazil Announced Aid of $ 286 Million to Greece

Edited on Fri May-07-10 03:06 PM by Meshuga

Brazil Announced Aid of $ 286 Million for Greece

São Paulo - Finance minister, Guido Mantega, said on Friday that Brazil will also participate in the effort to rescue the economy of Greece. The country will lend $286 million through the International Monetary Fund (IMF).

"Brazil was called as a creditor to put money there (in Greece)." The minister said after attending a lunch with businessmen linked to the Brazilian Institute for Industrial Development.

In all, the IMF and the EU will grant 110 million euros to the Greek economy. Germany is the country that will contribute individually to the aid package, with 22.4 billion euros (U.S. $ 28.6 billion) in credit over three years.

Source (in Portuguese): http://oglobo.globo.com/economia/mat/2010/05/07/mantega-anuncia-ajuda-de-us-286-milhoes-para-grecia-916527633.asp

On edit: oops... I forgot the add the link.

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protocol rv

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Fri May-07-10 04:00 PM
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1. I would ask for the Elgin Marbles

If I were the Brazilians, I would ask for the Elgin Marbles as colateral. They can be put in a museum in Rio de Janeiro until the Greeks pay off their debt :-)

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naaman fletcher

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Sat May-08-10 08:55 AM
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2. It's too bad

That as Brazil is becoming a world power it is getting in on the bail-out-the banks game. All the Greece bailout is about it using taxpayer-backed debt to guarantee bank-backed debt. The banks don't like to lose money.

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ChangoLoa

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Sat May-08-10 09:16 AM
Response to Reply #2

3. How could the Greeks get money otherwise, though? nt

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naaman fletcher

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Sat May-08-10 09:50 AM
Response to Reply #3

4. Well,

That's like asking someone who has too much credit card debt how they are going to keep living beyond their means if you don't loan them money. Most people I know hit by the economic downturn who defaulted on credit cards and such were stressed at first but a year later wake up every morning stress-free without the burden of the debt lifestyle. Perhaps Greece should try it.

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