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.
Eurozone Ministers May Seek IMF Help
Although eurozone ministers agreed Tuesday to boost the value of the rescue fund, they acknowledged that they might call on the International Monetary Fund for help to do so after Italy's borrowing costs soared nearly to 8%, a euro lifetime high.
EU Hints Greek Bondholders May Get Stung With Sharper Losses
Those institutions and investors holding large quantities of Greek bonds may be in for bigger losses than an originally agreed-upon deal provided for, according to hints from European finance ministers who met Monday to discuss Europe’s ongoing debt crisis.
Euro Crisis Spreads as Italian, Spanish Debt Yields Pass 6%
The massive size of Italian and Spanish debt in comparison to that of Greece, Portugal and Ireland imparts global economic significance to Tuesday's bond market news.
Ireland Slashed to Junk; EU Considers Greek Default
Moody's downgraded Ireland's debt to junk status as the EU pondered options to deal with the crisis in Greece.
Euro Zone Pledges Help for Greece, But Sets No Timetable
Euro zone ministers discuss ways to help Greece out of its debt crisis as fears mount of the spread of problems to Italy and Spain.
EU Says Greek Restructuring Possible
This was the first official acknowledgment that such an action might occur, and it was met with swift resistance from other euro zone officials. The effect on European banks and the European Central Bank (ECB), which all hold substantial amounts of Greek debt, would be huge. American banks also hold...
Portugal Suffers Ratings Cuts, but Not Expected to Seek Bailout
The same day that Portugal's prime minister resigned, Fitch on Thursday cut the nation’s credit rating by two notches, and S&P followed on Friday with a two-notch ratings cut.