Topic: Lucas Papademos
Greece has agreed to implement painful austerity measures – including a 22 percent cut in the minimum wage – in order to receive the money it needs to pay off debt due in March.
Stock market looks to open lower as emergency talks fail to produce Greek rescue package. A disorderly Greek default could send shock waves through the stock market.
The Greek government and private investors are locked in negotiations over how much Greek debt private investors will write off.
Greece could finally default in March when massive bond payments are due.