NPR : News

Filed Under:

Central Banks 'On Standby' As Greek Elections Loom

The European Central Bank "is on standby to keep banks flush with liquidity" if Greeks effectively vote on Sunday to support politicians who want to reject austerity measures and pull the nation out of the eurozone, The Financial Times writes this morning.

The ECB joins "a global chorus of central bankers pledging support ahead of Sunday's elections," the FT adds.

Whether there will be a clear outcome on Sunday is uncertain, however. On Morning Edition, NPR's Sylvia Poggioli reported that no single party is expected to win an outright majority. The electorate is divided between those who will vote out of fear for the establishment New Democracy party, and those who find hope in the upstart leftist Syriza party, which vows to ditch the painful terms of Greece's financial bailout.

Also today, The Associated Press looks at "the ripple effects if Greek were to leave the euro." Observers think that if central banks can't manage the situation, "the path of a full-blown crisis would start in Greece, quickly move to the rest of Europe and then hit the U.S. Stocks and oil would plunge, the euro would sink against the U.S. dollar, and big banks would uncover losses on complex trades."

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

A Love Letter To Literature: Reading Gabo In 'The Paris Review'

Gabriel Garcia Marquez died Thursday. It would be hard to overstate the importance of his novels, but author Gustavo Arellano recommends getting to know him in a different medium.
NPR

In The Land Of Razor Clams, Dinner Hides Deep Within The Sand

Clam digging satisfies that primeval urge to go out into nature and find free food. And inveterate Washington state clam diggers admit they compete to get their daily limit of 15 clams.
NPR

Are Democrats Trying To Energize The Base With The Race Card?

Top Democrats have said recently that some GOP opposition to President Obama and his agenda is based on race. It's an explosive message that might drive Democratic voters to the polls.
NPR

Should College Dropouts Be Honored By Their Alma Maters?

From a Top Gun sequel starring drones to Howard University's pick of Puff Daddy as its commencement speaker, the Barbershop guys weigh in on the week's news.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.