New Hire Roundup: Caiazzo Chairs SIFMA’s Clearing Firms Committee
Christian Sulger-Büel became managing director of FOX International, and Bill Mitchell was named senior portfolio manager at WHM Capital Advisors.
China Bank Head Ditches IMF Meet in Snit Over Islands
Meetings of the IMF and World Bank were a few short as they got under way this week in Japan.
Cut Greece Some Slack: Creditor Group
The catch, the group's managing director says, is that leniency should be granted only after Greece has managed to deliver on the requirements already in place for it to get its bailout.
Discord Rules Before EU Summit
Tempers are flaring in the run-up to the 20th EU summit since the onset of the eurozone debt crisis.
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.”
Big Banks Join Greek Debt Swap
By Thursday Greece must win over the rest of the participants to exchange new bonds for old, or it will invoke collective action clauses to compel additional bondholders to participate. The target is to reduce the country’s privately held debt of 206 billion euros ($270 billion) by 53.5%.
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.
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.
All-Around Pressure Marks Greek Negotiations
No one it seems can escape the pressure to accept less in the negotiations to save the Greece economy.
Greek Debt Talks Resume Amid Bickering
Talks to resolve the Greek debt crisis were to continue on Thursday, amid ongoing disagreements among private creditors, the European Central Bank and other parties about which degree of losses might be considered acceptable and who might have to be included in those losses.