Tag: Greece

• Friday, May 27th 2011 - 09:11 UTC

  Top economists anticipate ‘restructuring’ of Greek debt or ‘booting’ out of the Euro

  

  Nouriel Roubini, the New York University economist known as Dr Doom, says Greek restructuring would not bring down Europe's financial system. The economist, who earned his nickname by predicting the global financial crisis, says an orderly debt restructuring could pre-empt more trouble.

• Sunday, May 22nd 2011 - 13:09 UTC

  Greece’s credit rating downgraded and risks a ‘sovereign default’

  

  Greece’s credit rating was cut on Friday three levels by Fitch Ratings, which said that even a voluntary extension of its bond maturities being studied by EU policy makers would be considered a default.

• Wednesday, May 18th 2011 - 16:41 UTC

  Greece warned it must redouble efforts otherwise (but following step is not clear)

  

  The IMF warned Greece it must redouble reform efforts to avoid derailing its fiscal program, key to dealing with a huge debt mountain.The sternest IMF warning since a 110 billion Euro EU/IMF bailout a year ago pulled the troubled Euro zone member back from the brink of bankruptcy was delivered as European officials raised the possibility of a Greek debt restructuring.

• Tuesday, May 10th 2011 - 10:17 UTC

  S&P downgrades Greek debt as junk; “haircut” a growing possibility

  

  Standard and Poor's cut Greece's credit rating further into junk territory, reflecting growing doubts that the Euro zone's most fragile economy can manage its debt without imposing losses on private bondholders.

• Thursday, March 24th 2011 - 19:59 UTC

  Portugal has Euro zone on the brink; bail out package considered at EU summit

  

  EU leaders are grappling with a new Euro zone threat after Portugal's parliament rejected an austerity budget and PM Jose Socrates resigned. The vote means an international bail-out, similar to those accepted by Greece and the Irish Republic last year, is now far more likely.

• Saturday, March 12th 2011 - 23:39 UTC

  Euro-zone tightens budget rules; bail-out facility will buy bonds directly from governments

  

  European leaders widened the scope of the Euro’s rescue fund, authorized it to buy government bonds and eased the terms of Greek bailout loans as they unexpectedly pushed through fresh measures to end the bloc’s debt crisis.

• Tuesday, November 9th 2010 - 01:47 UTC

  IMF warns about possible “full blown sovereign debt crisis” in rich nations

  

  Risks are still high that developed nations will face difficulties in rolling over their debt and possibly trigger a crisis the International Monetary Fund said in its “Fiscal Monitor” report released this month.

• Monday, June 28th 2010 - 22:19 UTC

  Greece wants Mercosur/EU talks conditioned to end of Argentine trade barriers

  

  On the eve of the resumption of European Union/Mercosur trade talks, the EU has again complained about Argentina’s ‘protectionist’ measures on some EU agriculture produce and Greece is demanding discussions be conditioned to an end to barriers.

• Tuesday, May 25th 2010 - 00:57 UTC

  IMF bluntly tells Spain austerity and reform measures are not enough

  

  The International Monetary Fund has raised fresh concerns about Spain's economy, saying “far-reaching” reforms are needed to ensure its recovery. It said the country faced “severe” challenges, including the need to urgently reform a “dysfunctional” labour market, and its banking sector.

• Saturday, May 15th 2010 - 04:49 UTC

  World Stock Markets Plunge and Euro Falls to 18-Month Low

  

  World stock markets plunge Friday and the Euro hit an 18-month low against the dollar, on growing fears that the austerity packages unveiled across Europe could tip the continent back into recession and stifle global economic recovery.