Markets snub EU pledge to help Greek with debt
Markets snub EU pledge to help Greek with debt
Currency markets on Thursday snubbed European leaders’ vague pledge of support to help Greece avoid defaulting on its debt, sending the euro down against the U.S. dollar and doing little to halt fears of market contagion.
Read more on AP via Yahoo! News
ECB gives cautious backing to Greek deficit plan
ECB gives cautious backing to Greek deficit plan
The European Central Bank kept its main interest rate unchanged at the record low of 1 percent for the ninth month running Thursday and gave its cautious backing to the Greek government’s attempt to get a grip on its borrowing.
Read more on AP via Yahoo! News
Greek Bonds Show Waning Faith It Can Avoid Bailout (Update3)
Greek Bonds Show Waning Faith It Can Avoid Bailout (Update3)
Jan. 29 (Bloomberg) — Greek bonds and credit-default swaps show investors are starting to doubt that the nation can reduce the largest budget deficit in the European Union without help from outside.
Read more on Bloomberg
Greek Debt Swap Counterparty Risk May ‘Spook’ Market (Update1)
Greek Debt Swap Counterparty Risk May ‘Spook’ Market (Update1)
Jan. 29 (Bloomberg) — Greece’s economic woes will “spook” the derivatives market because of concern the nation’s banks may struggle to honor their credit-default swap trades, according to BNP Paribas SA.
Read more on Bloomberg
Categories: credit meld Tags: Counterparty, Debt, Greek, Market, Risk, Swap, Update1, ‘Spook’
Greek Debt Swap Counterparty Risk May ‘Spook’ Market, BNP Says
Greek Debt Swap Counterparty Risk May ‘Spook’ Market, BNP Says
Jan. 29 (Bloomberg) — Greek bank holdings of credit- default swaps “will spook the markets” because of increased counterparty risk stemming from the country’s attempts to reduce its budget deficit, according to BNP Paribas SA.
Read more on Bloomberg
Categories: credit meld Tags: Counterparty, Debt, Greek, Market, Risk, Says, Swap, ‘Spook’
Strauss-Kahn Says Greek Deficit a ‘Problem,’ No Euro Break-up
Strauss-Kahn Says Greek Deficit a ‘Problem,’ No Euro Break-up
Jan. 20 (Bloomberg) — International Monetary Fund Managing Director Dominique Strauss-Kahn said the euro region will withstand the turmoil caused by Greece’s credit downgrade, a day after finance chiefs voiced concern debt woes are spreading.
Read more on Bloomberg
Categories: credit meld Tags: Breakup, Deficit, Euro, Greek, Says, StraussKahn, ‘Problem’
Greek budget program gets Moody’s thumbs-up
Greek budget program gets Moody’s thumbs-up
The Greek government’s proposals to slash its massive budget deficit won praise from one of the world’s biggest credit rating agencies despite ongoing doubts about whether Prime Minister George Papandreou can push the plan through.
Read more on AP via Yahoo! News