ECB Leaves Rates Unchanged; Greece Debt Woes Addressed

February 4, 2010 /EIN PRESSWIRE/ The European Central Bank held its benchmark interest rate at 1% for the third-straight quarter. Meanwhile, ECB President Jean-Claude Trichet expressed cautious optimism for the Greek recovery plan.

The eurozone economy continues to expand, but the debt from the countries on the periphery — namely Greece and Spain — are threatening to undermine growth. Trichet said it was “absolutely crucial” for Greece to get its debt under control. The ECB president lent his support to the country’s plan to slash its budget in an effort to reduce its debt from 12.7 percent of GDP to 3 percent by 2012.

Is 9 percentage points a realistic expectation for a nation that has been clouded by debt problems for years?

Read more about this story at Consumer News Today:

Latest Interest Rates news –
Latest Greece Consumer news –

Located at, Consumer News Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest consumer news from around the world, saving them valuable time they’d spend searching for information. New users to Consumer News Today can enjoy a no-obligation, one-week free trial.

About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at and the latest world news in more than 80 different industries at