Greek aid talks delayed by travel disruptions

Add the Greek government's emergency aid talks with International Monetary Fund and European Union officials to the list of delays spawned by Iceland's recent volcanic eruption.

Greek government bonds took a renewed hit on the news, analysts said, pushing up the yield premium demanded by investors to hold Greek bonds over benchmark German debt.

The ash cloud that has grounded flights across much of Europe has delayed the face-to-face meetings, which were scheduled to begin Monday in Athens. Officials, including Greek Prime Minister George Papandreou, are slated to hold a teleconference Monday. Read about Europe's widespread travel disruptions.

Greece late last week was seen moving toward tapping the roughly 45 billion euro ($60.8 billion) standby package of country-to-country loans and IMF aid after inviting E.U., European Central Bank and IMF officials to Athens for talks.

Read Full Article from MarketWatch

- Posted: 2010-04-19 10:29:06

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