Andrew Flintoff's reizende leven

Cameron House, on Loch Lomond. It’s on the lake and has great restaurants: de
Cameron Grill, for Scottish steaks, the Boat House , which overlooks a
little boatyard, and Martin Wishart, which has a Michelin star. Er is een
spa, which my wife likes.

What’s your idea of a dream trip?

I’ve been to Tanzania, where I lived as a Masai, to Australia to live with
Aborigines, and to the jungles of Borneo. When our three children are older,
I’d love to take them to all those places.

Where is your favourite destination?

India – I’ve always felt at home there. Delhi and Mumbai and the Taj Mahal are
all incredible – but it’s the people I love. Indians are so interesting and
accommodating and friendly. The best hotel I’ve stayed at there is the
Rambagh Palace in Jaipur: its architecture is unbelievable.

Do you travel light?

I take the same Timberland holdall wherever I go, stuffed with all my gear. Of
a Louis Vuitton weekender my wife bought me. I’d never have a bag that you
wheel; they get in the way.

Which items do you always pack?

A satellite phone, to keep in touch with my family; a mosquito net; a head
torch, so I can use my hands to make a fire or put up a tent in the dark;
and a rag a cameraman gave me – for washing, tying things and putting on my
head when it’s hot.

Great cities?

For a weekend, Miami. I broke my ribs in Tampa, and spent a few days
recovering at the Delano hotel. It’s a bit funky for me, but relaxing, en
Nobu is within walking distance. I also love New York – it’s buzzy and full
of life, like London, although after a few days you want out. We were taken
to The Carlyle, where Woody Allen plays sometimes . It was great, listening
to jazz and drinking vodka martinis. We stayed at the Waldorf: a waste, als
we were out so much. For a family break, Dubai: the hotels are
child-friendly, you can guarantee the weather and there’s plenty to do.

Your favourite restaurant?

A chippie in Blackpool, The Cottage, which seats 60, surrounded by photos of
snooker players and actors from Coronation Street. My mum used to take me,
and we’d look up at Steve Davis and Vera Duckworth. Nu, my picture is on
the wall. I have cod, chips, mushy peas and a barm cake [the Lancastrian
word for a round, flat soft bread roll].

Where would you go for a celebratory meal?

Zuma in London. Last time, we took the children and they gave us a little
private area where you take your shoes off and sit on the floor.

De meest romantische hotel?

The Al Maha in the desert in Dubai, which has bedrooms like Bedouin tents, maar
more luxurious. The scenery is calm, the food is great, and we did lots of
new things: horse riding, archery, falconry.

Is luxury essential on holiday?

Only up to a point. I’m a bit funny about people doing things for me. I can
carry my own bags, and I hate it when you buy a bottle of wine and they take
it and put it somewhere else.

The most remote place you’ve been?

The jungle in Borneo. It’s wet and hot, and you’re surrounded by trees and
constantly dirty. I slept in a hammock or a cave for a week, eating anything
I could find, which wasn’t much.

Do you enjoy adventure sports?

When I played cricket, I wasn’t allowed to do anything extreme because of
verzekering. As soon as that ended, I went to America for six weeks and did an
extreme sport almost every day: bull riding, the skeleton at Whistler, de
Demolition Derby , kajakken. The more I do, the more I like it.

How about safaris?

Having spent a week alone in the Okavango Delta in Botswana , with lions by my
tent and elephants only 20ft away, the Serengeti and the Kruger seem tame,
with all their signs and roads. The way to explore the bush is on foot, met
a tent and a sleeping bag. That is a real safari.

What is your best piece of kit?

Good boots. The ones I use most are North Face and Timberland, and a pair of
fur-lined snow boots that are heavy but soft. Comfort is important; I’ve
recently designed a range of clothes for Jacamo that is comfortable, niet
cutting-edge.

Your recommended airlines?

It depends who’s paying. I flew to Los Angeles to interview Vinnie Jones and
Piers Morgan for the BBC and spent 11 hours in economy on BA, and the leg
room was fine. In business class, Maagd, BA and Emirates are good. I’ve
flown business class on Kingfisher, which has proper couches.

Most memorable character you’ve met?

A great guy in Botswana, called Newman, who taught me to find food in the bush
– though I was hopeless. I had a Thermos of ice all week. Mind, I had
plenty of pounds to spare, so it was a detox.

Any challenges coming up?

I’m cycling from Greece to London – 1,900 miles in 22 days – with [the retired
rugby captain] Lawrence Dallaglio, to raise money for centres for sick
kinderen, like the one we helped build at Alder Hey , Liverpool. I’ve just
got my bike – a Boardman, as light as a cork – so I’d better get training.

Who books your travel?

Usually ITC in Cheshire, or Elegant Resorts.

Do you offset your carbon emissions?

No – I didn’t know you could.

What do you do to relax?

Potter on my motorbikes. I have a Harley and a Bourget, which I enjoy taking
into the countryside.

Where is your next trip?

To Devon, to do some cricket coaching. The guy who bought my time at a charity
auction is kindly flying me there in a helicopter. I love them: a five-hour
journey takes 40 notulen. After that I’m going camping on Vancouver Island,
looking for wolves and whales. I’ve packed my woollies…

  • Freddie Flintoff is a brand ambassador for the men’s e-tailer Jacamo (jacamo.co.uk)

Griekenland keurt stoere salaris, pensioen bezuinigingen

ATHENE, Greece — Greece’s Parliament late on Tuesday approved new cuts in public sector pensions and government spending required to secure a second package of international rescue loans.

Wetgevers gestemd 202-80 in favor of cutbacks worth a total euro3.2 billion ($4.31 miljard) and aimed at bringing the 2012 budget back in line with targets. Lawmakers from both parties in Prime Minister Lucas Papademos’ coalitie, the majority Socialists and the conservatives, backed the legislation.

Vroeger, the debt-crippled country’s Cabinet decided to apply recent labor reforms, including deep cuts to the minimum wage, retroactively to Feb. 14.

Greece is obliged to adopt a series of austerity measures and reforms before it can receive any funds from its new euro130 billion ($174 miljard) package of rescue loans from other eurozone countries and the International Monetary Fund.

The bailout, en bijbehorende obligatie swap deal met private schuldeisers, zijn bedoeld om het land te redden van een potentieel katastrofisch standaard in eind maart dat andere financieel kwetsbare landen kon sleuren en bedreigen gezamenlijke munt van de Europese Unie, de euro.

Het reddingspakket is Griekenland de tweede in minder dan twee jaar. Het land is overgebleven sinds mei 2010 van gelden uit een eerste bailout van de eurozone en het IMF, en heeft euro73 miljard ontvangen ($98 miljard) van de oorspronkelijk goedgekeurde euro110 miljard ($147 miljard) verpakking.

Maar meer dan twee jaar van harde bezuinigingsmaatregelen doorgevoerd om de redding middelen te verwerven hebben een flinke tol op de recessie-gebonden Griekse economie genomen, met bedrijven sluiten in de tienduizenden en de werkloosheid op een recordhoogte 21 procent.

“Het is dramatisch om pensioenen iemands snijden. … Maar waarom hebben we deze maatregelen nemen? Because our budget is still running at a loss,” Finance Minister Evangelos Venizelos said in Parliament. “We are still adding debt to our debt. And if we do not start to generate a primary surplus next year, that will be catastrophic.

The newly approved legislation imposes nearly euro400 million ($538 miljoen) in cuts to already depleted pensions.

Health and education spending will be reduced by more than euro170 million ($229 miljoen), subsidies to the state health care system will be cut by euro500 million ($673 miljoen), and health care spending on medicine will fall by euro570 million ($767 miljoen).

Bovendien, some euro400 million ($538 miljoen) will be lopped off defense spending – three quarters of which will come from purchases.

The law also revises the 2012 budget, changing the government deficit target to 6.7 percent of gross domestic product from an initial forecast of 5.4 procent.

Measures approved by PapademosCabinet earlier Tuesday include a 22 percent cut in the minimum salary, currently at euro751 ($1,010) per month, for private sector workers, en een 32 percent cut for workers under the age of 25, where the rate of unemployment is nearly 50 procent.

Limits also are being imposed on collective wage agreements and the process of labor arbitration, with some measures to remain in effect until overall unemployment falls below 10 procent.

Lawmakers are to vote again on Wednesday on another bill implementing cuts that have previously been announced.

The new wave of austerity measures have sparked widespread anger among a public that has seen its income and living standards drop with no clear end to the crisis in sight.

Op dinsdag, over 100 uniformed police, coast guard and fire service unionists protested pay cuts outside Parliament, with a small group burning a wartime military German flag used in the Nazi era in 1935-1945. While Germany is a major contributor to both Greek bailouts, Berlin’s insistence on an austerity-based cure for the country’s financial woes has angered many Greeks.

Papademos, a technocrat heading Greece’s temporary coalition government, is to head to Brussels for a meeting Wednesday with European Commission chief Jose Manuel Barroso.

Greece’s European partners have been pressing the country to implement the measures it has already passed, after repeated delays and missed targets over the last two years eroded trust in the ability of Greece’s politicians to stick to their pledges.

European Parliament President Martin Schulz was in Athens on Tuesday for a series of meetings, and he gave a speech in Parliament stressing thatGreece must remain in the euro.

We must do everything we can to prevent the collapse of the euro,” zei hij, adding that more emphasis must be put on measures to promote growth rather than only on cutbacks.

A policy based solely on austerity spells economic disaster,” he told Greek deputies.

Budgetary prudence is certainly essential (maar) … there is too much focus on financial penalties and austerity packages,” Schulz said, adding that economic growth could be stifled in many European countries.

How are countries whose economies are at a standstill, which are facing a recession, supposed to pay off their debts? Greece has already paid a high price. It cannot go on paying,” zei hij.

Op maandag, the Standard Poor’s ratings agency downgraded Greece’s credit rating to “selective default” over a debt writedown deal with private creditors that is an integral part of the second bailout.

The downgrade had been widely expected, as ratings agencies had said the bond swap with private creditors, which seeks to cut euro107 billion ($144 miljard) off Greece’s debt, would constitute a selective default. Once the swap is carried out next month, the agencies are expected to upgrade Greece.

Late Tuesday, the International Swaps and Derivatives Association said it has accepted for consideration a question relating to a potential credit event with respect to Greece. An ISDA statement said a meeting will be held at 1100GMT on Thursday to determine whether a credit event has occurred.

The decision by the New York-based trade association, which represents hundreds of banks and other companies, will ultimately determine whether the bond swap will trigger payment of insurance taken by investors against a Greek default.

____

Derek Gatopoulos and AP Television in Athens contributed.


Griekenland gedegradeerd tot 'default’ door S&P

Last updated:
Februari 27, 2012 11:57 pm


De Veerkrachtige schoonheid van Griekenland (FOTO'S)

Thanks to its history, architectuur, beaches and food, Griekenland has long been a mainstay of travelersbucket lists. The Acropolis alone draws ruw 3 million visitors each year.

The Mediterranean nation has fallen on tough times of late, but that doesn’t mean it’s not still a prime destination for budget and lavish travelers alike. In werkelijkheid, Greece is so confident in its abilities to draw travelers that it launched a crowd-funded tourism campaign in an effort to entice American travelers.

Nog, this nation of bijna 11 miljoen mensen isn’t just defined by the Acropolis’s iconic Parthenon. The country of Homer (the poet is reportedly buried on Ios) and mythic heroes lays claim to innumerable stunning islands that boast beaches for all types. The Greek isles serve as the perfect backdrop for sampling local wines, hiking volcanic craters, dancing on the beach or throwing back ouzo in a local taverna.

Corfu, de second largest Ionian island, is famous in literature. The more unchartered Skopelos served as the backdrop for the movieMammi Mia” en, back on shore, Meteora is the famed home to numerous mountain monasteries. The famous Minoan palace of Knossos is the main draw on Kreta, and Mykonos is where the young and hip head to party.

As Greece’s history is truly the shared history of much of the Western world, Patmos is known as where St. John wrote the Apocalypse. Millenia later it is asophisticated island away from it all, and has a certain aura that people can’t quite define but love,” TrueGreece founder Christos Stergiou told The Huffington Post.

Have you been to Greece? What’s your favorite spot? Leave it in comments or share your photos in the slideshow below!























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Duitsland Backs Griekenland Aid, maar tegen een kostprijs aan Merkel

Even as doubts continued to grow here that Greece’s finances can be stabilized in the long run, 496 members of the Bundestag voted to sign off on the $175 billion Greek rescue package while just 90 voted against and 5 members abstained. With the vote in hand, Mrs. Merkel can now travel to Brussels for a summit meeting of European leaders on Thursday and Friday with the parliamentary approval necessary to agree to a deal European finance ministers reached last week to keep Greece from a disorderly default.

Nog, what at first looked like a blowout victory turned instead into a seeming political embarrassment. With the conviction taking hold that Greece is beyond saving, so many members of Mrs. Merkel’s coalition defected that the bailout passed only with the support of the more left-leaning opposition parties, the Greens and the Social Democrats.

“No one can give a 100 percent guarantee of success,"Mevrouw. Merkel zei, acknowledging the growing doubts about Greece’s prospects. But there would be “incalculable risks,"Zei ze, if help were cut off.

The failure to reach the symbolic threshold known as the “chancellor’s majority,” or a simple majority in the Bundestag from the ranks of the governing coalition, prompted immediate speculation about how firm Mrs. Merkel’s grip on power was. If it was not a shockwave, it was definitely a tremor.

Mrs. Merkel’s government rests on an alliance of her own conservative Christian Democratic Union with the sister party for the state of Bavaria, de Christelijke Sociale Unie, and the liberal pro-business Free Democrats. The two smaller parties often try to raise their profile by criticizing the government but are supposed to fall into line for important votes.

Last week the Free Democrats, who have languished in the polls, broke with Mrs. Merkel and said the party would side with the opposition Social Democrats and the Greens to support Joachim Gauck, the former pastor and East German activist, as Germany’s next president. Mrs. Merkel went along with the smaller party, suffering a blow to her authority in the process.

In coalition politics, the symbolic has a way of becoming real all too quickly. Doubts breed weakness, and out of weakness spring new doubts.

Uwe Jun, a professor of political science at the University of Trier, said he did not expect Mrs. Merkel to do anything drastic like call for a snap election. “Her pragmatic response will be to wait and see how it will work in the next month and whether this liberal party is still a reliable partner,"De heer. Jun said. “We can’t yet talk about the possible last days of her chancellorship, but it is a difficult situation.”

Many Germans oppose bailing out the Greeks on principle, and a growing number are saying it is a fool’s proposition. De Griekse economie, ze zeggen, keeps shrinking faster than anticipated, cutting tax revenues and making it harder for Athens to meet its fiscal goals, and there are few signs of recovery.

The news that some Greek lawmakers had been shifting personal assets out of the troubled country has only added to the sense of pessimism and gloom.

“I still don’t see any light at the end of the tunnel,"Aldus Philip Whyte, a senior research fellow at the Center for European Reform. “It’s not clear to me when Greece returns to growth under this policy mix. The fiscal policy is excessively tight, and Greece is being pushed down a totally self-defeating path.”

Over the weekend, Germany’s interior minister, Hans-Peter Friedrich, became the first member of Mrs. Merkel’s cabinet to say publicly that Greece should be encouraged to leave the euro, though many others have said so in private.

“Greece’s chances to regenerate itself and become competitive are surely greater outside the monetary union than if it remains in the euro area,"De heer. Friedrich told the weekly newsmagazine Der Spiegel.

Suzanne Daley contributed reporting from Athens.


Engeland en Nederland uit om het weer goed te maken

The race to reach the 2013 UEFA European Under-21 Championship resumes on Wednesday with an England side seeking revenge against Belgium, Scotland aiming to do the double over the Netherlands and Greece facing a tough trip to Germany.

Groep 8 leaders England welcome second-placed Belgium with four points separating the two teams. Francky Dury’s Belgium ran out 2-1 winners when they hosted England in November, inflicting the first defeat of the campaign on Stuart Pearce’s men.

Deze keer, echter, both sides have unfamiliar faces in the dugout. Brian Eastick steps in for Pearce, who took temporary charge of the England senior squad following Fabio Capello’s resignation. Ondertussen, Dury’s December departure for SV Zulte Waregem means Belgium are also led by an interim boss, with Jean François Rémy assuming the reins until Johan Walem takes over on 1 Juli.

If Rémy can complete a Belgian double over England then it will be all to play for in Group 8, as both sides take on Norway – who are third, a point behind Belgium with a game in hand on the front two – in September. England will be relying on the likes of in-form Alex Oxlade-Chamberlain and surprise top scorer Craig Dawson to pull them seven points clear.

Groep 10 is tighter still, the Netherlands heading the pack by one point from chasing Scotland and Bulgaria. The Jong Oranje and Billy Stark’s boys lock horns this week as each attempts to take advantage of their match in hand over the eastern European nation.

Hosts Scotland will bid to go top of the pool after picking up a 2-1 win when the countries met in the reverse fixture in November – a result that ended the Netherlandsperfect start to the campaign – and will look to six-goal striker Jordan Rhodes to make the difference once again.

Elders, Greece travel to Germany in Group 1, targeting the victory that would lift them into second spot, and two points clear of both Bosnia and Herzegovina and Belarus, who play one other in their next match on 1 Juni.

Sporting a perfect seven-win record, Germany are a daunting prospect though, having struck 31 goals and conceded just five. Niettemin, Greece can take heart from having scored four of those five goals. Even then, Rainer Adrion’s charges came out on top in that reverse fixture last November, Peniel Mlapa sealing his hat-trick deep into added time to earn a dramatic 5-4 German success.

Ondertussen, Wales entertain point-less Andorra as they seek to climb second in a close Group 3, while the bottom two teams in Groups 1 en 8 come together as Cyprus visit San Marino and Azerbaijan receive Iceland.


Voedsel: Doled Out

By Benjie R. Voedsel

At Close Range

Zondag, Februari 26, 2012

THE top gun of the Department of Labor and Employment or DoLE, Secretary Rosalinda Baldoz, must have several plausible reasons for suggesting that the holiday economics implemented first during the Arroyo administration may not be good for the economy, adding that holidays have both economic and sociological effects.

As it is now, the implementation of holiday economics involved moving the celebration of holidays to the nearest Friday or Monday resulting to long weekends, ostensibly to bolster domestic tourism.

Have something to report? Tell us in text, photos or videos.

Per empirical data, implementing longer periods of time off from work is not enoughto boost the domestic tourism industry due to resultant high cost of travel and the low levels of disposable income”.

As I have written earlier, de belangrijkste “victimsof longer weekends, time off and, ja, holiday economics, are the daily wage earners.

Baldoz cited the number of local holidays as 184: one is a regional holiday, 41 are provincial and 142 are city or municipal holidays. She thus recommended that a review of the implementation of holidays isnecessary to contribute to the Philippine development goal of inclusive growth, through decent and productive work”.

The Bureau of Working Conditions, or BWC, which is under the DoLE, has in fact had data that point to a situation that more special nonworking holidays create negative, rather than positive, welfare effects due to the principal ofno work, no pay”.

It categorically stated that: “For daily paid workers, the opportunity to produce goods of economic value and to earn wages is lost during a special non-working day”.

While labor costs increase in a day’s work, productivity is likewise increased, thus rendering it artificial and inefficient for employers.
In view of the current emergency situations, particularly in typhoon and calamity-hit cities and areas in the South, various schemes to alleviate the plight of workers there, have been and are being implemented by the national government, including the cash-for-work program to tide the affected workers and their families over the periods of emergency.

Instead of being doled out, the cash is hard earned by the workers and their beneficiaries.

oo0oo

To the ordinary citizen, the Philippines is another poor country trying to make ends meet. To an educated denizen, the news report that it contributes to the International Monetary Fund’s lending facility should probably amuse him, asking subconsciously where on earth could this poor country get funds to lend? But it is true, deze, according to Diwa Guinigundo, deputy governor of the Bangko Sentral ng Pilipinas who said the Philippines has entered into the expanded New Arrangements to Borrow, or NAB progrm of the IMF as a creditor country, and will make available some $500 miljoen die het IMF kan gebruiken om financiële bijstand te verlenen aan de crisis getroffen landen als Griekenland, Ierland en die in de eurozone.

Niet alles is verloren, daarom, op de Filippijnse zoektocht naar financiële stabiliteit als deze recente nieuws kunnen getuigen. Hetzelfde rapport stelde dat de Filippijnen gebruikt om een ​​netto lener van het IMF totdat 2006, als het prepaid al haar uitstaande verplichtingen, zozeer zelfs dat per jaar 2010, het werd zelfs een netto schuldeiser aan het IMF.

oo0oo

Laat de geest van Edsa eeuwig leven, dus spoorde Angeles City burgemeester Edgardo “Edpam” D. Pamintuan aan zijn gasten en weldoeners op zijn verjaardag bijeenkomst afgelopen februari 23. Toegeven er destabilizers van de zuurverdiende democratie gesneden sommige 26 jaar geleden, Mayor Ed lamented the wedge being driven between peace and orderliness in our society by those who wish only ill for our country and its inhabitants. He cited the ongoing Corona impeachment trial as one reason our cherished democracy is showing cracks leading to decay and eventual destruction, if the people who fought for it succumbs to despair and diminished courage, volunteerism and fortitude.

Edpam vividly proclaimed: “We have already won our democracy as early as 26 jaar geleden, and we only need to strengthen it. We only need to make it work for our people. We did not risk life and limb 26 jaar geleden, just to remove the ruling faction of the elite only to put to power another faction of the same elite”. Such fighting words by a stalwart in the quest for lasting democracy, Atty. Ed is, a persistent and consistent human rights lawyer and a compassionate public servant.

A swipe at the ruling administration and its cabal of influence peddlers and power brokers, misschien? Nothing much has changed I surmise, even with the promise of the current dispensation to drastically change our way of living with the implementation of so-called house cleaning chores, stamped with PNoy’s choices. Have we in fact backslid or are we really backsliding, instead of improving? If this were so, what did we gain from the sacrifices we expended at Edsa? Do we need another Edsa to demonstrate our bitterness and disenchantment on failed promises?

Mayor Ed said it so succinctly in his remarks: Edsa was a great dream whose realization we had in our hands. We should have held it with care. We should have nurtured it… Ja, we could have nurtured it. But we are choking the life out of it.

Inderdaad, there must be a beautiful life after Edsa, or because of it. The choice or option is in our own discretion. Whether or not we fail democracy, it is our call. Fail not, I urge you then.

Published in the Sun.Star Pampanga newspaper on February 27, 2012.


Merkel neemt warmte op Griekenland

BERLIN—Chancellor Angela Merkel’s effort to rally the German people behind her strategy for saving Greece and the euro suffered a blow over the weekend after a senior member of her government said Athens should be encouraged to leave the currency bloc.

The chances that Greece can renew itself and become more competitive are surely greater outside the currency union than within it,” Minister van Binnenlandse Zaken Hans-Peter Friedrich zei in een interview met Der Spiegel, een Duitse weekblad. De heer. Friedrich, die naar de Beierse zusterpartij van mevrouw behoort. Christen-democraten Merkel, voegde eraan toe dat Athene niet moeten worden gedwongen te vertrekken, maar …


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IMF Zal Waarschijnlijk Bespreek lening aan Griekenland in maart 13 Vergadering, Batista Zegt

De Internationaal Monetair Fonds ingesteld
Maart 13 as a tentative date to discuss its contribution to a
130 biljoen euro ($175 miljard) rescue package for Griekenland, een
IMF board official said.

While the Washington-based fund has until now borne about
one third of the cost of euro-area aid, it has yet to announce
its share of the second Greek bailout. IMF chief Christine Lagarde zei februari. 21 after euro governments approved the rescue
that the fund’s contribution will hinge on Europa’s progress in
building a broader financial firewall to fight the debt crisis.

“The fund has to play a mainly catalytic role now because
it’s already overexposed in Greece and Greece is highly
problematic,” Paul Nogueira Batista, who represents Brazilië en
eight other nations on the IMF board, said in an interview today
in Mexico City. The IMF should provide “some modest additional
financiering, very modest.”

Het U.S., as the IMF’s biggest shareholder, is pushing back
against European calls for the fund to play a bigger role in
tackling the euro-area debt crisis now in its third year.

Europe has “more work to do,” and “until we see that, Ik
think it’s unlikely you’re going to see the major shareholders
of the IMF be prepared to have the IMF play a larger response,"
Minister van Financiën Timothy F. Geithner zei in een interview
with CNBC yesterday.

Heeding Member Calls

With about $108 billion already promised to euro-region
countries including Portugal and Ireland, Lagarde must heed
members’ calls to limit its commitments to the currency bloc,
said Thomas Costerg, a European economist with Standard
Chartered Bank in Londen. IMF participation is “one of the main
uncertainties of this Greek deal,” Costerg said in a Feb. 21
interview.

The IMF will seek to keep its credit to Greece under the
new bailout package at 30 een miljard euro, including money still
owed from a first loan, an IMF official said Feb. 22.

IMF loans to Greece and the level of participation of
private bondholders in a voluntary debt swap are matters still
to be resolved as Europe’s most indebted nation battles to avert
verzuim. Greece’s government formally asked investors on Feb. 24
ago to exchange their holdings of government debt for new
securities in the biggest sovereign restructuring in history.

Greece remains “unique” and private-sector involvement in
resolving the debt crisis won’t be extended to Portugal, zei
European Central Bank Executive Board member Joerg Asmussen.

“As far as PSI is concerned, Greece is a unique case
there are clear reasons to be of the opinion that Portugal is
different from Greece,” Asmussen told Bloomberg News today in
Mexico-Stad, where he was attending a meeting of Group of 20
finance ministers and central bank governors. “The euro area is
a safe place to invest for international investors.”

Contact opnemen met de verslaggever op dit verhaal:
Sandrine Rastello in Mexico City via [email protected]

Om contact op met de redacteur die verantwoordelijk is voor dit verhaal:
Christopher Wellisz at [email protected]