Tag: Greek default

• Friday, September 23rd 2011 - 07:33 UTC

  Greek default would expose European banks in 300 billion Euros

  

  History's first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo's mythical birthplace.

• Thursday, September 22nd 2011 - 22:17 UTC

  IMF re-activates resource pool of 571 billion for another six months

  

  The International Monetary Fund re-activated this week a 571 billion dollars resource pool to ensure it has funds to help cover Europe's worsening sovereign-debt crisis. The IMF extended activation of its so-called New Arrangements to Borrow for a six-month period from October.

• Thursday, September 15th 2011 - 07:08 UTC

  Desperate efforts to avoid Greek default; Moody’s cuts ratings of leading French banks

  

  Moody's cut the credit ratings of two French banks Wednesday because of their exposure to Greece's debt, highlighting growing risks to Europe's financial sector from the deepening euro zone sovereign debt crisis.