Search

The article discusses May 16, 2012 developments in a Greek financial crisis including commentary from European Central Bank (ECB) President Mario Draghi urging Greece to remain in the euro zone, escalating withdrawals from Greek banks, and the ECB's decision to limit funding for those banks until they are recapitalized.

The article discusses terms of a bailout and debt-restructuring deal for Greece agreed upon by European nations, and notes that several parties including the International Monetary Fund harbor doubts that Greece will be able to meet targets for debt-reduction assumed by the pact.

The article reports on an announcement by Luxembourg Prime Minister Jean-Claude Juncker that he expects euro-zone countries to agree to additional financing to be provided to Greece.

The article deals with a call by Luxembourg Prime Minister Jean-Claude Juncker on Greece to establish an agency to privatize state assets similar to the German institution that sold East German enterprises in the 1990s.

The article focuses on a suggestion from French Finance Minister Christine Lagarde that the French government might support a rescheduling of Greek debt.

The article reports on the success of Greece in meeting all of its austerity targets that were set by the European Union and the International Monetary Fund (IMF) under a financial aid program yet external agencies raise concerns over the consequences of overspending among local governments, hospitals and social security funds.

The article reports that a Greek government-bond shakeout emphasizes recurring concerns over the public finances and banks of the country. It cites the decision of the European Central Bank (ECB) to drop increasingly heavy hints that it plans to begin loosening up extraordinary measures and revert gradually to more normal policies in 2010. It notes that Greece has been singled out by the European Commission as the worst offender with wide budget deficits. According to the Greek government, its deficit will reach 12.7% of gross domestic product in 2009.

The article reports that Germany's Bundesbank is displeased with the European Central Bank's (ECB's) intervention in the Greek bond market. Over a several-week period the ECB has spent around 25 billion euros to buy Greek bonds, a move the Bundesbank interprets as an indirect bailout of banks that own the securities.

The article reports on the growing conflict over the issue of rescuing Greece from its debt crisis with the European Central Bank (ECB) president Jean-Claude Trichet suggesting that euro-zone nations should provide loans to Greece and with Germany persuading the International Monetary Fund (IMF) to take part in the rescue.

The article reports on the plan of several European nations to announce tougher budget measures in an effort to stabilize the markets amid the fiscal crisis being experienced by Greece which has a deficit of 12.7%.

The article reports on the second debt-rating downgrade suffered by Greece in a week amid the country's efforts to reassure markets that it can recover from its battered finances. It cites the move of Standard & Poor's Corp. to cut its rating one notch to triple-B-plus on December 17, 2009 and to warn of future downgrades. It mentions that Fitch Ratings lowered its rating on Greece the previous week, driving a selloff of Greek debt and equities and raising concerns about a potential default.

The article reports that finance ministers in the euro zone agreed to a bailout and debt-restructuring deal for Greece as of February 21, 2012. Topics discussed include the 53.5 percent write-down on bonds that private-sector creditors agreed to, how the European Central Bank will use its profits from the bond markets to aid Greece, and economists' concerns that Greece may not be able to pay its debts despite the bailout. INSET: Bond Markets Shrug at Feared Swap.

The article reports that the European Central Bank has agreed to exchange its holdings of Greek government securities at less than their face value. The decision of the central bank is examined as a significant step towards completion of a debt relief plan for Greece which is intended to prevent a default on its public debts.

The article discusses developments in a European debt crisis. The Italian Senate approved a package of economic-stimulus measures in a move seen as preparatory to the resignation of Prime Minister Silvio Berlusconi. Lucas Papademos was sworn in as Prime Minister in Greece. The Dow Jones Industrial Average and other stock indexes around the world responded favorably to the news.

The article discusses developments in Europe's debt crisis including indications that Greece and its private creditors are getting closer to a deal on debt relief, and a proposal from Germany's finance minister that would subject Greek government spending to European Union oversight for an unspecified period.

The article analyzes whether the 110 billion euros worth of three-year Greek bailout by euro-zone countries and the International Monetary Fund (IMF) can cover Greece's costs.