Greek Leader Said to Seek More Time to Meet Austerity Goals
Prime Minister Antonis Samaras of Greece hopes to achieve two objectives with eurozone policymakers: to assure them that he will carry out mandated austerity measures and to win more time to do so.
Olympic Marketing: It All Started in 1896
Without the help of a wealthy philanthropist, the modern Olympics would likely have been moved before the first event was even held.
Greek Exit Fears Loom Again
Depending on the result of the review to be conducted this week by the troika, Greece could end up being ridden right out of the eurozone.
Pro-Bailout Party Wins Greek Election
Voters in Greece on Sunday let the world know that they were not quite ready to depart the euro.
Papandreou Says Greece Will Stay in Eurozone
Papandreou, the former Greek prime minister, said the country has “a few weeks” before its government runs out of money and that this is a “make-or-break” period.
Reporting From Europe: Will Germany Push Greece Out of the Euro?
If Greece does not meet its obligations, many here feel that Germany will force it out of the euro. What's an advisor to do?
Investors Say No to Greek Bond Restructuring
Investors holding Greek sovereign debt issued under foreign laws and denominated in dollars, euros, Swiss francs and yen said no to a Greek restructuring plan, leaving the country to find another way through its debt maze as it seeks to avoid outright financial collapse.
When the financial system faces a major bankruptcy, one that is large enough to threaten its health, it often makes sense to buy time. Regulators, central bankers, multilateral lenders and governments.
Greece Gets 95% Participation in Debt Swap
Greek Finance Minister Evangelos Venizelos was quoted saying, “The debt-swap results show that international markets see the prospects the Greek economy has to regain a sustainable fiscal situation.”
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.