Private Bondholders' Offer on Greek Bonds Rejected
Private bondholders had their holdout position of requiring a 4% interest rate on new Greek bonds rejected Monday, as eurozone finance ministers said the offer was not good enough.
Greek Bond Restructure Deal Debated
A plan to restructure Greek sovereign debt could see banks gain equal footing with the European Financial Stability Facility and sovereign creditors, although the measure is still being debated.
The 50% Solution: Greek Rescue
The solution entails a 50% write-down of Greek debt by banks, a boost in the euro zone’s rescue fund to $1.4 trillion and a substantial recapitalization of banks.
European Banks, EU Squabble Over $55B in Greek Write-downs
Eurozone taxpayers could be on the hook for more than $55 billion if banks are compelled to take hefty write-downs on Greek debt—a measure banks are fighting even as officials try to convince them to accept massive cuts voluntarily.
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.
Germany’s Merkel Calls for Greek Debt Buy-Back, Swap
As pressure mounted to come up with a solution to the Greek debt crisis, German Chancellor Angela Merkel called for private investors to kick in. Strategies being discussed include several options, such as a repurchase of bonds or a swap in which they are exchanged for cuts in face value.