Greece Launches Bond Swap
Greece on Friday took the next step in a second bailout package after Parliament passed a law Thursday that requires all its bondholders to accept losses once a certain percentage of creditors have agreed.
Greece Adopts Austerity Plan
As Athens burned, the Greek Parliament approved a new budget cuts aimed at getting international relief for its debt.
Equity Funds Drop 0.20 percent in ‘Q2
PIMCO’s El-Erian: Europe at Risk Over Greek Debt
Mohamed El-Erian, head of PIMCO, says that a restructuring of Greek debt is inevitable and that failure to address the country's problems correctly could contaminate the rest of Europe.
Fitch Threatens Greek Downgrade if Bond Rollover Occurs
As Greece faces an unpopular vote on Tuesday over even more unpopular austerity measures, Fitch Ratings kept up the pressure by saying that it would regard a voluntary rollover of bond maturities as a default and cut the country's credit rating accordingly.