U.S. Jobs Report Looks Good but Greece Fears Weigh on Markets
An encouraging U.S. jobs report was not enough to give the markets a lift on Friday as worries about Greece’s debt crisis continued to weigh on sentiment.
Greece Verges on Collapse After Call for Bailout Referendum
Not just leaders of the eurozone, but markets were stunned by the news; Greek prime minister did not notify policymakers before the announcement.
Ireland Sees Opportunity in Greek Solution
The deal brokered by the euro zone nations to save Greece from default has opened a window of opportunity for Ireland in which Dublin may seek relief for its own wounded economy.
The 50% Solution: Greek Rescue
The solution entails a 50% write-down of Greek debt by banks, a boost in the euro zone’s rescue fund to $1.4 trillion and a substantial recapitalization of banks.
Soros Lists ‘3 Bold Steps’ for Avoiding Global Depression
Blame it on the policymakers, said billionaire George Soros in an opinion essay that favors letting Greece default.
Greek Debt Swap Feared Short of Goal
Banks and insurers, who were supposed to declare Friday whether they would join the bond exchange that was a condition of a second bailout for Greece, were slow to declare themselves, and a shortfall was feared at midday.
Greek Bailout Talks Halt as Tension Mounts
The Greeks and bailout officials also cannot agree on the amount by which Greece has failed to meet its targets, with Athens perhaps predictably citing a lower figure than the international representatives.
Greek Bond Swap to Cost Creditors 21%
Swaps of existing Greek bonds for new ones with longer maturity dates will cost private bondholders 21%, according to Greece's deputy finance minister, who said Tuesday that exchanges for the new debt instruments would begin in August.
Europe’s Market Euphoria Over Greek Rescue Turns Sour
European markets gave back gains made on initial euphoria over last week’s Greek rescue plan, with the bond market in particular voting no confidence.
Moody's Downgrades Greece, Says Default Almost Inevitable
Moody's pushed Greece down to a single notch above default at Ca on Monday after the deal put together to rescue Athens from its debt woes proved unacceptable to the ratings agency.