Greece: "Confidence in the eurozone is at stake"

Reassuring markets panicked, convinced German parliamentarians to grant a loan to Greece. Such is the dual mission survey completed Wednesday afternoon Dominique Strauss-Kahn (DSK), director of the International Monetary Fund, and Jean-Claude Trichet, president of the European Central Bank (ECB) during a joint press conference Berlin, the German Parliament.

Dominique Strauss-Kahn said he was "confident" about the resolving the financial difficulties of Greece. On the condition that "the euro area and the IMF act quickly." Even reassuring speech by Jean-Claude Trichet: "I am the working hypothesis that we will reach a good result at the end of this negotiation. It depends on us and it depends on the Greek government. I am confident. "

The two leaders apparently he managed to complete their first mission, to reassure markets.The cost of insurance on debt Greek, CDS (Credit default swaps), has fallen sharply to 690 basis points, while they peaked at 822 points the day before, Markit News reported. On equity markets, investors remain worried. In Paris the CAC 40 lost including another 1% at 16 hours at 3805 points. Elsewhere

German parliamentarians were they sensitive to speech and Strauss-Kahn Trichet? The fact is that they have hammered the Bundestag. "Do not act in time could have consequences beyond Europe," warned the director of the IMF, joining on this point the Greek Prime Minister George Papandreou. It is "confidence in the euro area is at stake," he added. A recurring theme echoed by Jean-Claude Trichet, president of the ECB.The latter stressed the need for "absolute" for Germany to decide very quickly, to avoid contagion in the euro area quick payday loans.

100-120000000000 aid discussed

The Director of the IMF also warned Greeks next level consequences of international aid: "The reforms will be painful," he warned, without deciding for the moment on a total allocation, as discussions with the Greek government will not be closed. The Greek Minister of Employment has already indicated that Greece refused to make the wage cuts demanded by the IMF and the ECB.

Earlier in the afternoon, a German deputy, Juergen Trittin, however, had said that the overall plan of aid to Greece should reach 100 to 120 billion euros over three years, saying, quote the director of the IMF speaking in the chamber of the Bundestag.In return for this support more than expected, Greece should refrain from market to finance themselves during the next three years, understands J?rgen Trittin.

Other information gleaned from the Bundestag, where Jean-Claude Trichet, ECB president, and Dominique Strauss-Kahn spoke this afternoon, the ECB and the IMF would have rejected the request of some German parliamentarians to engage in some banks plan help set up, according to statements by a member of the CDU, the party of Chancellor Angela Merkel.

On this occasion, the German parliament, which could give trouble to the leaders of the eurozone and the IMF launched a warning: their support for Germany's plan to help Greece will "not automatic".

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