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Greek Bailout

 News broke over the weekend that Greece was offered a 45 billion euro’s ($61m) bailout package in order to prevent the country defaulting on its extensive debts.

The 16 euro-zone countries decided on a rescue package to help Greece. 15 billion euro’s is to come from the International Monetary Fund with the remaining to be lent by the euro-zone nations at 5% interest to be paid back within the year.

As a result of the proposed package, the euro gained in strength against the dollar which in turn pushed the price of gold up. With renewed optimism over debt-ridden Greece, on the back of a weaker dollar, it could work to gold’s advantage. Analysts suggest that now is a good time to buy gold while the dollar takes a dip.

Related posts:

  1. How far this Greek tragedy will put the future of the Euro in question?
  2. Concerns Over Greece Pushes Gold Up
  3. China Rumoured to Buy Gold
  4. Greek Debt Crisis
  5. Gold Outlook Seems Healthy

Link to this article: : http://www.goldmadesimplenews.com/gold/greek-bailout-367/

Posted by on Apr 13 2010. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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