New Hire Roundup: Caiazzo Chairs SIFMA’s Clearing Firms Committee
Christian Sulger-Büel became managing director of FOX International, and Bill Mitchell was named senior portfolio manager at WHM Capital Advisors.
Cut Greece Some Slack: Creditor Group
The catch, the group's managing director says, is that leniency should be granted only after Greece has managed to deliver on the requirements already in place for it to get its bailout.
Discord Rules Before EU Summit
Tempers are flaring in the run-up to the 20th EU summit since the onset of the eurozone debt crisis.
Greek Debt Swap Success Called Likely
Enough holders of Greek sovereign debt have now signed on to the debt swap deal that is a prerequisite for a second bailout that success seems likely. However, there is still a chance that collective action clauses may be triggered.
ECB Likely to Wait for Debt Deal on Greece
Any concessions the European Central Bank may choose to make on Greece’s sovereign debt are likely to remain unknown until Athens comes to some sort of agreement with its private debt holders.
Greek Debt Talks Resume Amid Bickering
Talks to resolve the Greek debt crisis were to continue on Thursday, amid ongoing disagreements among private creditors, the European Central Bank and other parties about which degree of losses might be considered acceptable and who might have to be included in those losses.
Greek Bond Restructure Deal Debated
A plan to restructure Greek sovereign debt could see banks gain equal footing with the European Financial Stability Facility and sovereign creditors, although the measure is still being debated.
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.
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.