Tag: Greece

• Thursday, June 30th 2011 - 20:10 UTC

  Relief in financial markets: Greece approves austerity and privatization package

  

  The Greek parliament approved on Thursday detailed austerity and privatization bills in a crucial vote to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk.

• Tuesday, June 28th 2011 - 06:07 UTC

  French banks agree to roll over holdings of Greek debt for 30 years

  

  French banks have agreed to roll over holdings of Greek debt for 30 years, President Nicolas Sarkozy said on Monday, as the Greek government tries to persuade backbench rebels to back a crucial austerity plan to avert bankruptcy.

• Monday, June 27th 2011 - 15:00 UTC

  Soros: EU on verge of economic collapse; some countries will have to exit the Euro

  

  US/UK Hungarian born billionaire investor George Soros says a country will eventually exit the Euro zone and urged policymakers on Sunday to come up with a “plan B” that could rescue the European Union from looming economic collapse.

• Monday, June 27th 2011 - 05:44 UTC

  Germany warns Greece: ‘no austerity plans approved, no release of funds’

  

  German finance minister Wolfgang Schaeuble warned that a veto of the Greek government's austerity plans by parliament this week could mean Athens will not receive a bailout tranche it needs to remain solvent.

• Friday, June 24th 2011 - 20:15 UTC

  Krugman: “when Argentina tried to act as a serious country, it was “a disaster”

  

  Nobel Prize winner Paul Krugman took to his blog in the New York Times to say he didn’t see how Argentina’s default could be seen as a cautionary tale for Greece, and questioned a local economist who assured Argentina was not considered “a serious country.”

• Thursday, June 23rd 2011 - 08:58 UTC

  A Uruguayan debt ‘profiling’, an option to help Greece avoid defaulting

  

  With Greece on the precipice of financial collapse and a full Euro confidence crisis looming while EU leaders can’t agree on the next steps, the example of Uruguay in 2002/03 stands out as a successful smart way out of the crisis that spilt over from neighbouring Argentina.

• Wednesday, June 22nd 2011 - 16:31 UTC

  World’s largest bond fund predicts default for Greece “and other European economies”

  

  The head of PIMCO, the world's biggest bond fund, predicted that Greece and other European economies would default on their debts to resolve their problems as the Euro area deals with its debt crisis.

• Wednesday, June 8th 2011 - 00:09 UTC

  Argentine debt expert forecasts significant “hair cuts” for Greek bond holders

  

  Holders of Greek bonds will suffer a larger ‘hair cut’ than that experienced by Argentine creditors forecasts Argentina’s former Finance Secretary Guillermo Nielsen who played a crucial role in negotiations with creditors following the 2002 default.

• Friday, June 3rd 2011 - 23:19 UTC

  Greece is not Uruguay; the Athens debt case is more like Argentina, says economist

  

  Past voluntary debt re-profiling in Latin America have worked to varying degrees, but “soft” restructuring is not going to solve Greece's debt problems, according to Stuart Culverhouse, chief economist of frontier markets specialist Exotix.

• Wednesday, June 1st 2011 - 08:34 UTC

  Mix of Belgian sacrifices and banks rolling over expiring bonds, proposal for Greece

  

  European Union’s top economic official said a solution to keeping Greece solvent is combining bold deficit cuts reminiscent of Belgian sacrifices in the 1990s and willingness by lenders to roll over expiring bonds, adapting what was done in Eastern Europe two years ago.