Tag: Greece

• Wednesday, January 18th 2012 - 03:20 UTC

  Rating agencies forecast Greece’s default…but in an orderly manner

  

  Like in Colombian Nobel Prize Gabriel Garcia Marquez novel “Chronicle of a Death Foretold” Fitch rating agency said on Tuesday that Greece would default on its debt, although it anticipated that such a default was likely to take place in an orderly manner.

• Friday, January 13th 2012 - 21:18 UTC

  S&P downgrades France’s rating; Greek swap talks on hold; Euro hits new low

  

  Stock markets and the Euro traded lower Friday as Greek debt swap talks were put on hold and France’s Finance minister confirmed that Standard & Poor’s has downgraded the country’s credit rating.

• Wednesday, January 4th 2012 - 05:27 UTC

  Greece admits it is closer to be forced out of the Euro zone

  

  Greece faces an exit from Europe's common currency block unless it clinches a deal on a second 130 billion Euro bailout with its international lenders, a government spokesman said on Tuesday.

• Monday, November 21st 2011 - 03:59 UTC

  Greek conservatives support austerity measures but refuse to sign document

  

  Greece's creditors failed to persuade the leader of the main conservative party to drop his refusal to sign a pledge that he will back austerity measures under a bailout deal aimed at saving the country from financial ruin.

• Saturday, November 19th 2011 - 05:44 UTC

  Greece submits austerity budget, but political differences surface in coalition

  

  Greece's new government took a first step on Friday towards meeting terms of an international bailout needed to avoid bankruptcy, submitting a budget bill that foresees no new austerity measures next year as long as reforms are enacted.

• Friday, November 18th 2011 - 05:38 UTC

  Euro confidence crisis has several countries under siege

  

  Greek police clashed with anti-austerity protesters and Italy announced sweeping reforms in response to a European debt crisis that on Thursday pushed borrowing costs for France and Spain sharply higher.

• Thursday, November 17th 2011 - 22:20 UTC

  Greek bond holders prepare for 50% ‘hair cut’ discussions involving 100bn Euros

  

  Greece and holders of its debt hope to agree on a proposal to halve its privately held debt within weeks, both sides said on Thursday, raising hopes that a key pillar of Greece's 130 billion Euros bailout is still on track.

• Wednesday, November 16th 2011 - 14:36 UTC

  ECB moves in to stop sell-off of EU bonds; Obama calls for stronger political will

  

  The European Central Bank stepped in on Wednesday to stem an accelerating sell-off of Euro zone government bonds, traders said, after the United States called for more decisive action to halt a spreading sovereign debt crisis.

• Tuesday, November 15th 2011 - 21:59 UTC

  Greece and banks begin discussing bonds’ 50% haircut and swap

  

  Greece and private bondholders begun working on a deal to halve its public debt, a key pillar of a bailout plan to save the country from bankruptcy and ejection from the euro zone, sources said.

• Tuesday, November 15th 2011 - 06:40 UTC

  Greek ‘technocrat’ PM faces confidence motion Wednesday

  

  Greek Prime Minister Lucas Papademos said on Monday the policies tied to Athens' international bailout had worsened a recession and pushed unemployment higher, but the problem could be mitigated with reforms.