Greece Still Seeking Concessions After Bailout Extension
While markets rose on the news that Greece's bailout was extended for four months, investors aren’t comfortable that they’ll come out of it unscathed.
Cyprus Bailout Shockwaves Travel Beyond Eurozone
A deal that “broke the rules” has struck fear in depositors’ hearts—and not just in Cyprus
Greece Gets Two More Years to Hit Deficit Targets
International Monetary Fund Director Christine Lagarde protested the extension of the deadline for Greece to cut its debt to a “sustainable” level to 2022, saying that the target date “has to be 2020.”
Euro Leaders, Soros Press Merkel on Joint Finance
Chancellor Angela Merkel of Germany was in a tight spot as fellow eurozone leaders turned up the heat on the issue of joint debt for the bloc.
Greece Forms New Government
On Wednesday Greece managed to agree in principle to form a conservative coalition government, with three pro-bailout parties agreeing to cooperate and giving the coalition a majority of 179 seats.
Spain Downgraded, Seen Asking for Bailout Saturday
Fitch cut Spain’s credit rating by three notches late Thursday, leaving it two levels above junk, and Friday morning word circulated that the country would ask for a bailout on Saturday.
Juncker to Step Down as Head of Eurogroup
Jean-Claude Juncker, prime minister of Luxembourg and head of the Eurogroup assembly of euro zone finance ministers, confirmed that he will step down in the middle of the year from the post he has held for seven years.
No Bailout for Greece–Yet
Greece’s hard-won agreement from political leaders in Athens was rejected late Thursday as not tough enough. Instead, Greece was told to go back to the drawing board.
Deadline for Greek Bailout Agreement Set for Monday
Eurozone finance ministers intend to polish up an agreement to grant Greece a second bailout package in the hope that it will forestall the debt crisis and reassure markets.
Private Bondholders' Offer on Greek Bonds Rejected
Private bondholders had their holdout position of requiring a 4% interest rate on new Greek bonds rejected Monday, as eurozone finance ministers said the offer was not good enough.