Greek 1-Year Bond Hits 1,000%
Investors who would drool at the chance to turn a $1,000 investment into $10,000 in just a year are likely in no better position than the Greek mythological figure Tantalus unable to grasp the low-hanging fruit just out of his reach.
Greek-German Relations Strained in Debt Negotiations
Germany's get-tough attitude toward Greece, echoed by Austria, Finland and the Netherlands, has angered Greek officials who say they have done everything they were asked to do in order to be granted a second bailout by the troika of the European Union, International Monetary Fund and European Central Bank.
ECB Likely to Wait for Debt Deal on Greece
Any concessions the European Central Bank may choose to make on Greece’s sovereign debt are likely to remain unknown until Athens comes to some sort of agreement with its private debt holders.
Q4 Earnings: Citi Misses Earnings on Lower Results
At Citigroup, loans improved, but sales and profits–including those from its Morgan Stanley Smith Barney joint venture–declined year over year.
Hedge Funds Look to Greek Bonds for Profit
London- and New York-based hedge funds are among those that hold Greek bonds and are resisting haircuts advocated by the Greek government to help the country avoid default.
Gloomy Christmas in the Eurozone
Austerity measures have hit hard in the eurozone nations struggling under the burden of huge debts.
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.