Asia Bizz: Eurozone Contagion Still A Point Of Huge Fear For Financiers

Financiers are still in fear, of the Eurozone contagion, as they feel that the financial package released for Ireland would just not prove to be enough. This was expressed by the European Banking Congress, as they showed fear over the financial future of the Eurozone. But almost three quarters of the congress members present at the meeting, stated that such a package would not be affecting the future of the Eurozone.

88% of them still believed that the European Monetary Union would be surviving for the next 10 years and at least 70% of them believed that Greece would still be a part of the European Union for the next 10 years, but it would be meeting its financial expectations in the coming decade.

Greek Finance Minister George Papaconstantinou, stated that speaking on debt reconstructional programs would not be helping the country out of the current situation. Greece has been consistently pounded with financial problems since almost a year now, and this has threatened the Eurozone tremendously.


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