Will European Banks Be Forced to Unload U.S. Assets?
The report's authors cite Dutch banking giant ING Groep’s pending sale of its U.S. banking franchise ING Direct to McLean, Va.-based Capital One Financial Corp as a paradigm for such asset sales, since European regulators forced ING to restructure.
IMF, Troika Divided Over Greek Rescue
Dissension over Greece's second bailout is dividing the bodies that make up the troika, the so-called joint commission of the International Monetary Fund, the European Union and the European Central Bank.
Why You Should Care About the Greek Crisis
Greek default fears are starting to infect Germany and its banks, which have significant holdings of Greek sovereign debt. And the infection is spreading to the U.S. because of close connections between U.S. and German banks.
Greece Teeters as Default Worries Grow
The odds of Greece defaulting on its sovereign debt within the next five years stood at 98% on Tuesday, as additional measures taken by its government failed to reassure investors and the cost of insuring the obligations climbed again.
Greek Debt Swap Feared Short of Goal
Banks and insurers, who were supposed to declare Friday whether they would join the bond exchange that was a condition of a second bailout for Greece, were slow to declare themselves, and a shortfall was feared at midday.
Greek Bailout Talks Halt as Tension Mounts
The Greeks and bailout officials also cannot agree on the amount by which Greece has failed to meet its targets, with Athens perhaps predictably citing a lower figure than the international representatives.
Is the Latest Greek Bailout Just Delaying the Inevitable?
The latest Greek bailout is just a bandage for its ever-increasing debt.
Emerging Market Nations Warn IMF on Greek Rescue
Emerging market nations of the International Monetary Fund warned that body on Thursday not to contribute too much money to Greece's second bailout.
Greek Bond Swap to Cost Creditors 21%
Swaps of existing Greek bonds for new ones with longer maturity dates will cost private bondholders 21%, according to Greece's deputy finance minister, who said Tuesday that exchanges for the new debt instruments would begin in August.
Moody's Downgrades Greece, Says Default Almost Inevitable
Moody's pushed Greece down to a single notch above default at Ca on Monday after the deal put together to rescue Athens from its debt woes proved unacceptable to the ratings agency.