Talk of Greek Euro Exit Grows as Political Deadlock Continues
More than a week after elections brought anti-austerity parties to the fore, the task of brokering a compromise is in the hands of President Papoulias, who thus far has been as unsuccessful as the party leaders themselves.
France Derides Ratings Agencies, Britain
Bank of France Governor Christian Noyer struck out at ratings agencies, calling them 'incomprehensible and irrational,' and also slammed Britain as more deeply mired in financial woes than France.
EU Watchdog Growls at Ratings Agencies
The European Union agency that presides over the ratings actions of the likes of Moody's, Standard & Poor's, and Fitch Ratings has begun an investigation into how they arrive at rankings for sovereign bonds and other debt, and it warns that if wrongdoing is uncovered, the penalties could be severe.
IMF, Japan Deny Italy Talks on Aid
With yields on Italian bonds skyrocketing, a report in the Monday daily La Stampa that the International Monetary Fund would provide a loan package to Italy of up to 600 billion euros ($798 billion) at an interest rate of between 4-5% was denied by the IMF.