Greece
Greece Articles
A US-style stimulus may be all that is between defaults of the sovereign debt of Greece, Portugal, and Ireland. It is a plan which is extremely unlikely to be undertaken, but it may be the only one...
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The effort to keep the sovereign paper of Portugal viable was to begin when the country asked for aid from the EU and IMF. Departing Prime Minister José Sócrates said the new bailout transaction is...
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The fear of a contagion among EU nations which need or want bailouts has changed over the past few days to a concern about how one default could trigger many others. For months, economists and...
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Portugal finally asked the EU for financial aid. The capital markets had driven its cost of borrowing too high to be sustainable. The country also had to admit that the figures from its last budget...
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After months of denials, Greek Prime Minister George Papaconstantinou admitted the country may be forced to sell the Acropolis, something that many consider to be unthinkable. But the unfathomable...
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The Wall Street Journal says that Portugal’s budget report for 2010 may be wrong. The paper writes that “The country’s statistics office has been reviewing its 2010 accounts after the EU’s...
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The debate over the fate of Europe’s poorer nations continues to return to Greece. It has become the canary in the coal mine as capital markets investors and other EU nations contemplate the...
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There is a broad expectation that contagion will rise as Ireland is bailed out by EU nations and the IMF. Much like Greece, Ireland could not afford to finance its debt. Fears about default became...
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Most of the attention paid to the sovereign debt crisis in Europe, currently highlighted by trouble with Ireland, is about sharp cost cuts, higher retirement ages, and new taxes. The collection of...
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Greece will never default on its sovereign debt. That is, at least what Greece’s finance minister George Papaconstantinou says. His argument has less to do with his nation’s precarious situation...
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Many investors in sovereign debt and euro zone nations which put up hundreds of billions of dollars are anxious to see if Greek moves toward default on its national paper. A number of investment...
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One of the worst pieces of news that holders of sovereign debt can receive is that a large nation has been able to restructure its obligations on terms which are favorable to the country, but not the...
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The Greek economy has begun to disappear, or more appropriately, the process has begun to happen more quickly. Greece’s 240 billion euro economy, about 2.5% of the euro zone, contracted 3.7 percent...
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It is hard to see how Greece can repay it sovereign debt if its economy keeps shrinking. According to several media reports including MarketWatch, “Greek gross domestic product fell by 1.5% in the...
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MarketWatch: AgBank rose after its debut on the Hong Kong market. Reuters: Goldman Sachs Group (NYSE: GS) settled with the SEC for $550 million. Reuters: BP plc (NYSE: BP) capped the flow...
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