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.
Portugal Said to Be Pressured to Take Bailout
A senior euro zone source was reported Sunday to say that France and Germany, as well as other euro zone nations, are pressuring Portugal to take a bailout, although Lisbon denies that such action is necessary.
Euro Zone Ministers Take No Crisis or Budget Action
After five hours of talks, euro zone ministers decided to take no new action regarding the debt crisis, despite indications to the contrary earlier Monday.
Ireland Steps Back From Brink as Bailout Expected
Ireland's situation, which had grown more tenuous as fears spread of default, eased on Thursday, as Patrick Honohan, Ireland's central bank governor, said he expected loans of "tens of billions" of euros.
Ireland Teeters on Brink as Greek Deadline Nears
Ireland's situation grows more tenuous as fears spread of default, with Ireland still insisting it does not need outside assistance and the EU finance ministers agreeing Wednesday to prepare with the IMF for a bailout of the country.