tag:blogger.com,1999:blog-63655783783747741812012-01-30T00:47:25.670+02:00Aristides Hatzishttp://www.blogger.com/profile/15162122643785161564noreply@blogger.comBlogger81611100tag:blogger.com,1999:blog-6365578378374774181.post-75802692153886747172012-01-29T23:12:00.000+02:002012-01-30T00:07:46.877+02:00

Wall Street Journal January 29, 2012 Greek Prime Minister Lucas Papademos headed for Brussels late Sunday to negotiate a new bailout for his country after weekend talks with private creditors over a planned debt restructuring neared a deal, and following a renewed commitment by political leaders in Athens to pursue fresh reforms. In remarks following an almost three-hour meeting with the heads

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-74237180032976767282012-01-29T23:06:00.000+02:002012-01-29T23:58:58.525+02:00

by Wolfgang Münchau Financial Times January 29, 2012 I recently had a conversation in which everybody seemed to agree that the new European fiscal pact was quite mad. The conversation was overheard by a former policymaker, who turned to us and said that he agreed in principle – but he then added that if the treaty encouraged the European Central Bank to become more flexible, it might still be

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-67387869775845327852012-01-29T22:01:00.000+02:002012-01-29T13:24:26.981+02:00

Bloomberg January 29, 2012 Greece and its private creditors said they expect to complete a debt-swap accord this week after bondholders signaled they would accept European government demands for lower interest rates. The sides are “close” to completing a voluntary exchange within a framework outlined by Luxembourg Prime Minister Jean- Claude Juncker, the Institute of International Finance,

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New York Times January 29, 2012 As Greece tries to reach a debt-swap agreement with its private creditors, the country’s prime minister suggested on Sunday that the three leaders in his fractious coalition were prepared to back additional austerity measures and reforms needed to receive a second bailout. Prime Minister Lucas Papademos had sought agreement among the coalition partners on the

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-5261752466612866522012-01-29T21:55:00.000+02:002012-01-29T23:44:35.398+02:00

Bloomberg January 29, 2012 French President Nicolas Sarkozy said the euro-region’s financial crisis is stabilizing thanks to measures taken by European leaders. “We can say -- with caution -- that we see elements of financial stability in France, in Europe and in the world,” Sarkozy said in a nationally televised interview in Paris today. “Europe is no longer at the edge of the cliff.” The

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-79134341721133366272012-01-29T21:38:00.000+02:002012-01-29T23:41:00.746+02:00

Reuters January 29, 2012 Prime Minister Lucas Papademos sought backing on Sunday from leading Greek party leaders for painful and unpopular reforms that the near-bankrupt country must negotiate now that a long-awaited debt relief deal seems almost secured. Attention is shifting to negotiations with Greece's international lenders who want proof that the Papademos coalition will take action on

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-45107275613497335612012-01-29T20:19:00.000+02:002012-01-29T23:54:24.683+02:00

Financial Times January 29, 2012 Angela Merkel, the German chancellor, is facing growing political pressure at home to demand stricter fiscal discipline from her eurozone partners at an extraordinary European Union summit in Brussels on Monday. She also faces a potential revolt by conservative members of the German parliament over any call for more taxpayers’ money to bail out the ailing Greek

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-60017507878454605132012-01-29T19:35:00.000+02:002012-01-30T00:44:53.967+02:00

BBC News January 29, 2012 Greece has rejected outright German proposals for the EU to hold power over its budget. Culture Minister Pavlos Yeroulanos told the BBC it would be "impossible" for Greece to cede control of its tax and spending powers. There are concerns the measures Greece has taken to cut its budget deficit have not gone far enough. Meanwhile, Greece and its private creditors are

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-74447835538708087512012-01-29T19:13:00.000+02:002012-01-29T23:52:01.162+02:00

by Gavyn Davies Financial Times January 29, 2012 According to reports from Davos, the consensus among global economic leaders is that the most dangerous phase of the eurozone crisis may now be over. Mario Draghi has emerged as the hero of the hour. By using the central bank balance sheet aggressively to stem the credit crunch, the ECB President has dampened bankruptcy fears in the financial

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-87200649285233306572012-01-29T18:44:00.000+02:002012-01-29T23:43:07.419+02:00

Bloomberg January 29, 2012 Greek Prime Minister Lucas Papademos said he has the backing of leaders from the three political parties supporting his interim government as international creditors increase the pressure on Greece to make deeper spending cuts to secure new funding. The party leaders are in “complete agreement” with the government on continuing talks with private and international

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-71928519246848344992012-01-29T18:17:00.000+02:002012-01-29T23:38:07.761+02:00

by Stephanie Flanders BBC News January 29, 2012 could tell you the top two items now on the to-do list for European leaders: fixing the eurozone's financial firewall and finally sealing the deal on Greece. But there's a second list I'd like to compile after a few days talking to senior leaders and business people here in the mountains. That's the list of fears, lurking on the sidelines, which

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by Simone Foxman Business Insider January 29, 2012 Greece has angrily rejected a German proposal that would co-opt control of the struggling country's budget in exchange for the next round of bailout funds to keep it afloat, according to the BBC. In an interview with local television, Greece's education minister and former EU Commissioner Anna Diamantopoulou even called it, "the product of a

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-91470454152947441822012-01-29T14:11:00.000+02:002012-01-30T00:16:25.593+02:00

Kathimerini January 29, 2012 Finance Minister Evangelos Venizelos has dismissed suggestions that a European commissioner should be appointed to oversee Greece’s budget, saying that it was not fair to ask Greeks to compromise their nation’s dignity for further financial assistance. Speaking to journalists before departing for Brussels, Venizelos reacted to questions about a leaked set of German

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-46388217515871256642012-01-29T13:25:00.000+02:002012-01-30T00:18:36.356+02:00

Daily Telegraph January 29, 2012 With the country on the brink of a default, Christine Lagarde, the director general of the IMF, said that a new "fiscal compact" was set to be signed by European Union members at the vital leaders' summit on Monday that would centralise budgetary powers. The IMF made it clear that the fiscal compact was concerned with future budgets and not the present bail-out.

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-33646743013820731992012-01-29T11:32:00.000+02:002012-01-29T13:36:36.782+02:00

BBC News January 29, 2012 Greek officials have reacted angrily to a leaked German proposal for an EU budget commissioner with veto powers over Greek taxes and spending. The Greek government said it must remain in control of its own budget. The European Commission says it wants to reinforce its monitoring of Greek finances, but Greece should retain sovereign control. Meanwhile, Greece and its

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Economist January 28, 2012 The buzzword in Brussels these days is “growth”. Perhaps the looming recession across much of Europe is concentrating minds. Or leaders may realise that the prospect of years of austerity is stirring bad blood. Unless the debt crisis was resolved and growth recovered, said Christine Lagarde, the IMF’s head, Europe and the world risked reverting to the 1930s. At their

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-1412128248261504882012-01-29T00:00:00.000+02:002012-01-29T15:32:09.683+02:00

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-2502523816956226762012-01-28T22:05:00.000+02:002012-01-29T13:29:47.497+02:00

by Viola Caon Observer January 28, 2012 Maybe being young is never easy. But being a twentysomething young European has rarely been more stressful. More than a quarter (28%) of Italians between 16 and 24 are unemployed. Others are struggling to get by on unpaid internships or poorly paid jobs with little security. Italy's new prime minister, Mario Monti, has vowed to help the younger

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-3357708160061958132012-01-28T20:41:00.001+02:002012-01-29T00:26:59.554+02:00

Wall Street Journal January 28, 2012 Frustrated with the slow pace of implementation of budget overhauls in Greece, Germany is leading a push to force Athens to cede some control over its budget decisions to Europe, a move met by skepticism by European Union officials. A European official familiar with the matter said on Saturday that the reason for such a move—made as a condition of disbursing

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-10759075712888228472012-01-28T20:30:00.001+02:002012-01-28T21:47:24.609+02:00

Wall Street Journal January 28, 2012 Negotiations between the Greek government and its private-sector creditors are close to being finalized and a deal should be concluded next week, the head of the Institute for International Finance said on Saturday. "Further progress was made, building on the understandings reached yesterday on the key legal and technical issues. We are close to a

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-71986105453949596452012-01-28T20:30:00.000+02:002012-01-28T21:37:34.139+02:00

New York Times January 28, 2012 What happens if the country that invented the Olympics cannot afford to produce Olympic athletes? As this summer’s London Games approach, that notion is causing great angst in Greece, where elite athletes are feeling the sting of austerity measures in the face of a historic debt crisis. The government scrapped a plan to spend nearly $10 million a year on Olympic

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Reuters January 28, 2012 Greece and its private creditors worked on stitching together the final bits of a complex debt swap agreement Saturday, amid growing optimism a deal will be clinched in time to avert an unruly default. After weeks of muddling through round after round of inconclusive talks, the negotiations appear to be in their final phase, though it was unclear if a preliminary deal

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-45691709687880260062012-01-28T19:35:00.000+02:002012-01-29T00:20:46.230+02:00

Washington Post January 28, 2012 Despite months of urgent summits, repeated rescue plans and merciless budget cuts, European governments remain on the edge of a financial abyss, struggling to meet mountainous debts accumulated over four decades of living beyond their means. The most immediate danger lies in Greece, where the government is effectively bankrupt, with debts amounting to an

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-23590770693853583812012-01-28T19:30:00.000+02:002012-01-28T21:35:02.994+02:00

New York Times January 28, 2012 Greece once again appears on the verge of reaching a deal with its private sector creditors on how much of a loss they would be willing to accept on their bond holdings. The latest progress comes in the wake of two days of talks in Athens between Greece’s political leadership and Charles Dallara of the Institute of International Finance, the bankers’ lobby

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-13928770584294344962012-01-28T17:54:00.000+02:002012-01-28T19:49:36.918+02:00

Bloomberg January 28, 2012 European policy makers are discussing plans to directly intervene in Greek budget decisions as the country struggles to cut its deficit, two euro-region government officials said today. Under the proposals, European institutions would have powers to implement austerity measures agreed under the terms of Greece’s bailout agreements, said one of the officials, who

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-50916057402001936272012-01-28T16:00:00.001+02:002012-01-28T19:46:55.812+02:00

Bloomberg January 28, 2012 Josef Ackermann, chief executive officer of Deutsche Bank AG, talks about the outlook for Greece and the need to avoid a default. He speaks with Bloomberg Television's Caroline Connan at the World Economic Forum's annual meeting in Davos, Switzerland. More See also

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-50506333378079607622012-01-28T15:36:00.000+02:002012-01-28T19:51:36.489+02:00

Bloomberg January 28, 2012 Global finance chiefs warned no economy is safe from Europe’s debt crisis, adding urgency to their calls for its governments to deliver a swift resolution. Policy makers from Hong Kong to Canada used the last full day of the World Economic Forum to push euro-region counterparts to boost their bailout cashpile to protect Italy and Spain. They also pressed Greece and

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-54717567204193055892012-01-28T15:03:00.000+02:002012-01-28T19:46:50.153+02:00

Bloomberg January 28, 2012 The economic and political consequences of Greece defaulting instead of reaching a voluntary debt-restructuring deal are being underestimated, Deutsche Bank AG (DBK) Chief Executive OfficerJosef Ackermann said. “Default risk is much higher than what people normally take into account,” Ackermann said today in an interview at the World Economic Forum in Davos,

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-60197073281757453332012-01-28T12:00:00.003+02:002012-01-29T13:03:48.187+02:00

Economist January 28, 2012 The banners at the entrance to the Bank of Greece museum in Athens promise a “fascinating journey through Greece’s modern economic and monetary history”. How could any passer-by resist? Inside the museum ranks of glass cases enclose an array of coins and old bank notes, as well as the paraphernalia used to make them. The bills range from 5 drachma up to 100m drachma, a

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-59327747707794712472012-01-28T12:00:00.000+02:002012-01-28T16:00:52.143+02:00

του Πάσχου Μανδραβέλη Καθημερινή 28 Ιανουαρίου 2012 Πολλά ακούστηκαν και γράφτηκαν για την ανταρσία των βουλευτών της συγκυβέρνησης, οι οποίοι καταψήφισαν το άρθρο 29 του πολυνομοσχεδίου που έφερε η κυβέρνηση Παπαδήμου. Τι καταψήφισαν, όμως, τα παλικάρια και οι μεγαλοκοπέλες της Βουλής; Ουσιαστικά καταψήφισαν το δικαίωμα κάθε φαρμακοποιού να ανοίγει το μαγαζί του τα απογεύματα ή τα Σάββατα

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-17694281583685195772012-01-28T11:50:00.000+02:002012-01-28T21:19:19.342+02:00

by Stephanie Flanders BBC News January 28, 2012 I've been thinking about the lessons of this year's World Economic Forum in Davos for Radio 4's Today programme - including excerpts from interviews with financier George Soros and IMF chief Christine Lagarde, among others. You can listen to my report here.

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-74862701632322167512012-01-28T11:16:00.000+02:002012-01-28T19:38:55.040+02:00

Bloomberg January 28, 2012 Nouriel Roubini, the New York University economist who predicted the financial crisis, said Greece will probably leave Europe’s single currency within 12 months and could soon be followed by Portugal. “The euro zone is a slow-motion train wreck,” Roubini said in a panel discussion in Davos, Switzerland today. “Not only Greece, other countries as well are insolvent.”

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-40435772575330666762012-01-28T08:57:00.000+02:002012-01-28T21:57:37.281+02:00

by Richard Barley Wall Street Journal January 28, 2012 Is the worst of the euro-zone bond-market crisis over? It's tempting to think so: Italian 10-year yields are under 6%, their lowest since October, while Spanish yields are well under 5%, a level not seen in over a year. January's bond auctions have seen heavy demand. And despite soaring Portuguese bond yields, there is not a hint of

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-53483528990440199312012-01-28T08:28:00.000+02:002012-01-28T19:29:03.170+02:00

Wall Street Journal January 28, 2012 European Central Bank President Mario Draghi told the World Economic Forum on Friday that the ECB's actions in December had averted financial disaster, and cited evidence of improvement in euro-zone markets in recent weeks. But he didn't take all of the credit. The new ECB chief said governments have made progress in repairing public finances, and praised

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-9974734485815133712012-01-28T08:18:00.000+02:002012-01-28T19:18:46.932+02:00

Wall Street Journal January 28, 2012 Greece and its private-sector creditors appeared to edge closer Friday to a long-awaited agreement over a €100 billion ($131 billion) debt write-down on government bonds, after bondholders indicated they may accept lower yields on restructured Greek debt. The delays in reaching an agreement, and questions about whether bondholders will be forced to take

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-49019920841641832052012-01-28T02:04:00.000+02:002012-01-28T13:42:02.732+02:00

Reuters January 27, 2012 Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday. "There are internal discussions within the Euro group and proposals, one of which comes from Germany, on how to constructively treat country aid programs that are continuously

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-20339798478194486972012-01-28T01:42:00.000+02:002012-01-28T20:23:42.964+02:00

Reuters January 27, 2012 Greece and its private creditors head back to the negotiating table on Saturday to put together the final pieces of a long-awaited debt swap agreement needed to avert an unruly default. After weeks of muddling through round after round of inconclusive talks, the negotiations appear to be in their final phase with both sides hoping to secure a preliminary deal before

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-13171732270158182282012-01-28T00:05:00.000+02:002012-01-28T19:54:55.206+02:00

Bloomberg January 28, 2012 Greece and its private creditors said they made “important” progress during talks in Athens on a debt-swap accord needed to lower the country’s debt and pave the way for a second package of international aid. “Important understandings were reached on legal and technical issues,” according to an e-mailed statement yesterday from the Institute of International Finance,

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-42930811514724179462012-01-28T00:00:00.000+02:002012-01-28T13:42:41.358+02:00

by Simone Foxman Business Insider January 27, 2012 Reuters reports that Germany is pushing Greece to give up control over budgetary policy as part of the newest terms of its second bailout. The wire service cites a source a European source with information about discussions and proposals that are going on between eurozone finance ministers, known collectively as the Eurogroup. They met this

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-82818558511418766942012-01-27T23:25:00.001+02:002012-01-28T00:35:28.688+02:00

Financial Times January 27, 2012 The German government wants Greece to cede sovereignty over tax and spending decisions to a eurozone “budget commissioner” to secure a second €130bn bail-out, according to a copy of the proposal obtained by the Financial Times. In what would amount to an extraordinary extension of European Union control over a member state, the new commissioner would have the

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-81254262799811456802012-01-27T22:37:00.000+02:002012-01-28T20:15:00.181+02:00

Reuters January 27, 2012 Euro zone finance officials voiced optimism on Friday that a deal to avert a disorderly Greek default was imminent and that key building blocks to resolve Europe's sovereign debt crisis are gradually fitting into place. Europe's top economic official said an agreement between the Greek government and its private creditors on voluntary losses for bondholders would be

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-12559476890213325402012-01-27T22:05:00.000+02:002012-01-28T14:18:00.782+02:00

BBC News January 27, 2012 Greece could reach a deal with its creditors over the weekend, according to a senior European official. "We're very close," the European Union's Economic Commissioner, Olli Rehn, said at the World Economic Forum in Davos. Greek Prime Minister Lucas Papademos also said he was optmistic a deal could be reached in "the coming days". Greece and its private creditors have

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-33592485557127858682012-01-27T21:00:00.000+02:002012-01-28T20:09:25.739+02:00

Reuters January 27, 2012 A deal between Greece and its private creditors is seen as ''very close'' says EU economic and monetary affairs chief Olli Rehn, as the EU and IMF push Athens to implement more reforms to get its second bailout package. Joanna Partridge reports. More

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Bloomberg January 27, 2012 Gerard Lyons, chief economist at Standard Chartered Plc, talks about the euro-region debt crisis and the outlook for the global economy. He speaks with Tom Keene on Bloomberg Television's "Surveillance Midday." More

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-11178217916505559292012-01-27T19:30:00.000+02:002012-01-28T16:18:35.693+02:00

by Raghuram Rajan Project Syndicate January 27, 2012 With the world’s industrial democracies in crisis, two competing narratives of its sources – and appropriate remedies – are emerging. The first, better-known diagnosis is that demand has collapsed because of high debt accumulated prior to the crisis. Households (and countries) that were most prone to spend cannot borrow any more. To revive

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-21900375717284613672012-01-27T18:01:00.000+02:002012-01-28T21:23:58.867+02:00

Financial Times January 27, 2012 Fresh signs of tension between France and Germany over the eurozone rescue emerged on Friday, as expectations rise that a deal to restructure Greece’s sovereign debt could be agreed as early as this weekend. “We are very close to a deal, if not today then over the weekend and preferably in January, not February. We are very close,” Olli Rehn, European

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-43466467208535011192012-01-27T18:00:00.000+02:002012-01-28T20:28:54.278+02:00

Reuters January 27, 2012 The European Central Bank's loans to banks have averted a major credit crunch, ECB President Mario Draghi has told the World Economic Forum in Davos. Sonia Legg reports from Davos. More

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-41586242519413997582012-01-27T17:43:00.000+02:002012-01-28T19:20:52.729+02:00

Wall Street Journal January 27, 2012 Talks between Greece and its private-sector creditors edged toward an agreement, with bond holders seemingly willing to accept lower yields on their future holdings of Greek debt. Costas Paris reports on Markets Hub. More

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Bloomberg January 27, 2012 International Monetary Fund Managing Director Christine Lagarde discusses Greece's progress on structural overhauls and the role of the IMF in avoiding a default. She speaks with Maryam Nemazee and John Fraher on Bloomberg Television's "The Pulse" from the World Economic Forum's annual meeting in Davos, Switzerland. More

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Reuters January 27, 2012 The European Central Bank should help alleviate Greece's debt burden by forgoing profits on its Greek bonds, but should not go as far as accepting losses, Wolfgang Franz, the head of a panel of German government economic advisers has told Reuters. The ECB is under growing pressure to participate in Greece's debt restructuring as the International Monetary Fund has

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-17834759212303637792012-01-27T15:30:00.000+02:002012-01-29T15:30:19.753+02:00

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Bloomberg January 27, 2012 David Blanchflower, a professor at Dartmouth College and a Bloomberg Television contributing editor, talks about Europe's debt crisis. He speaks on Bloomberg Television's "InBusiness With Margaret Brennan." More

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-20500974045711624192012-01-27T15:00:00.001+02:002012-01-28T13:47:42.004+02:00

Spiegel January 27, 2012 Greece is struggling to reach an agreement on debt relief with its private-sector creditors. But even if it ultimately does, the country may need vastly more funding than has been envisioned so far. German commentators on Friday say it's time for a bit of honesty from Europe's leaders. Greece needs more money. That would seem to be the growing consensus in Europe as

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-86088810495633007432012-01-27T14:50:00.000+02:002012-01-28T13:50:17.547+02:00

Spiegel January 27, 2012 It's German Chancellor Angela Merkel's pet project -- a new European Union fiscal pact to ensure members' budgetary discipline through stricter controls. But European legal experts have doubts about its viability, while critics say there are more important issues at hand. The final decision is planned for the next European Union summit on Monday. There leaders from 26

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-13121462324526102342012-01-27T14:36:00.000+02:002012-01-29T12:42:52.023+02:00

Economist January 27, 2012 This grotesque map of the world, depicting Europe as a bloated balloon, caught my eye this week, and powerfully illustrates one of the factors in Europe's debt crisis. It depicts the countries of the world sized according to the amount of government spending. In the words of the World Bank, which published it in a report issued this week ("Golden Growth: Restoring the

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-5599990275193484452012-01-27T14:00:00.000+02:002012-01-28T02:15:53.263+02:00

Financial Times January 27, 2012 Olli Rehn, European commissioner responsible for economic and monetary affairs, said on Friday that talks with representatives of holders of some €200bn of Greek bonds were close to a deal. Speaking on a panel with the French and German Finance ministers at the World Economic Forum in Davos, Mr Rehn said: “We’re just about to close a deal on private sector

Aristides Hatzishttp://www.blogger.com/profile/15162122643785161564noreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-59149320231615341942012-01-27T13:51:00.000+02:002012-01-28T20:16:36.907+02:00

Reuters January 27, 2012 Argentina's chaotic bankruptcy a decade ago triggered riots, looting and dozens of deaths. The prospect of that horror scenario playing out in Greece is focusing minds across Europe as the threat of default remains all too real. At best, if private creditors walk away from a voluntary debt restructuring, a disorderly default would shut Greek banks for days to give

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-402630105888388932012-01-27T13:40:00.001+02:002012-01-28T19:27:32.030+02:00

Wall Street Journal January 27, 2012 The key goal of debt talks between Greece and its bond holders should be to ensure the government has a debt equivalent to 120% of gross domestic product by 2020, the head of the International Monetary Fund said Friday. Speaking to Bloomberg Television in Davos, Switzerland, Christine Lagarde said she isn't optimistic or positive about the recent

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-32596730677985892912012-01-27T13:34:00.000+02:002012-01-28T19:22:35.354+02:00

Wall Street Journal January 27, 2012 Sealing the euro zone's proposed fiscal pact would enable the European Union's new bailout fund to enter into force earlier than planned, German Finance Minister Wolfgang Schäuble told the World Economic Forum Friday. In a panel discussion with two other European finance ministers, Mr. Schäuble and European Commissioner Olli Rehn expressed confidence that

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-15864970045401784582012-01-27T13:27:00.000+02:002012-01-28T14:16:47.917+02:00

BBC News January 26, 2012 Key talks between Athens and its private creditors have resumed, with "some progress" made towards agreeing a deal to reduce Greek debt. The Institute of International Finance, representing creditors, said talks had focused on "legal and technical issues" and would continue on Friday. The two parties have so far failed to agree an interest rate on new bonds that would

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-41504916695383804912012-01-27T12:52:00.000+02:002012-01-29T12:52:41.826+02:00

Economist January 28, 2012 Greece, progenitor of the euro zone’s debt drama, is back at centre-stage. The reason is a battle between the Greek government, its European and IMF rescuers, and the holders of Greek bonds over the terms of a “voluntary” reduction in its private debts. Greece’s economy is in far worse shape than when the outlines of a deal were put together last October, so there is a

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-77418569364144041912012-01-27T11:11:00.003+02:002012-01-28T20:31:36.688+02:00

by Stephanie Flanders BBC News January 27, 2012 They are trying, really trying, to get that deal done to cut the value of Greek debt - one that accepts the new realities I described in my last post. The key is that all sides now accept that, for the numbers to add up, the public sector has to take a hit. There's a limit to the losses that the private sector debt holders will accept, and they

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-66959038151696058402012-01-27T09:24:00.000+02:002012-01-28T20:25:07.094+02:00

Reuters January 27, 2012 Euro zone members may have to increase their financial support for Greece if Athens and the private sector do their part to address the country's debt crisis, Eurogroup head Jean-Claude Juncker told a newspaper. "If Greece's ability to sustain debt is proven and there is an overall understanding with the private sector, then the public sector will also have to ask

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-73298929792822680142012-01-27T08:27:00.001+02:002012-01-28T18:28:24.619+02:00

by Eva Cosse New York Times January 26, 2012 When I tell people in Athens, my hometown, that I am doing research on racist violence in Greece, I am met with disbelief. There’s no problem, they say, and even if things sometimes happen it’s a temporary blip linked to the economic crisis. The Greek government seems to share their view. It recorded only two hate crimes in the whole country in 2009

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-52842733101839292502012-01-27T08:27:00.000+02:002012-01-28T16:27:59.781+02:00

by Simone Foxman Business Insider January 27, 2012 European markets are mostly in the red after early trading, led by losses in the periphery. The Italian FTSE MIB is already down over 1% in an hour and a half, while the DAX struggles to climb into the green. U.S. futures are slightly positive. The only unambiguously bullish equities news here is comes from Athens, where investors are

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-64109158954275646162012-01-27T08:23:00.000+02:002012-01-28T18:23:57.406+02:00

New York Times January 26, 2012 Even as Greece tries to convince creditors that its debt-reduction efforts are on track, gloomy new International Monetary Fund forecasts about its long-term economy are threatening to derail talks meant to secure the nation’s next big installment of bailout funds. The concerns, stemming from an analysis that the I.M.F. has been quietly sharing with European

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-49126793575706843252012-01-27T08:15:00.000+02:002012-01-28T19:15:25.535+02:00

Wall Street Journal January 27, 2012 A senior European policy maker said euro-zone governments may have to increase their contributions to Greece's debt deal, and said he was hopeful agreements could be struck soon to increase euro-zone bailout funds and International Monetary Fund resources. European Union economics commissioner Olli Rehn also appealed to the U.S. and other countries not to

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-61588867918503166682012-01-26T22:26:00.000+02:002012-01-27T21:24:12.359+02:00

by Lorenzo Bini Smaghi Financial Times January 26, 2012 After each major financial crisis, from Latin America in the 1980s to Asia in the late 1990s, the International Monetary Fund experienced several reforms aimed at strengthening its ability to deal with the new challenges. The most recent crisis in advanced economies, in particular Europe, does not yet seem to have triggered a comparable

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-41109313029365605662012-01-26T22:22:00.000+02:002012-01-27T21:32:05.217+02:00

by Philip Stephens Financial Times January 26, 2012 Italy is back. Germany’s Angela Merkel sits at the top of Europe’s power list. France’s Nicolas Sarkozy can lay claim to be the continent’s most energetic leader. Mario Monti is its most interesting. After an absence lasting a couple of decades Italy has returned to the stage. Mr Monti’s fate may turn out to be Europe’s. The other day the

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-3223831558242149652012-01-26T21:42:00.001+02:002012-01-29T13:46:20.618+02:00

by Dominique Doms Examiner.com January 26, 2012 Greece plans an orderly exit out of the Eurozone according to two sources close to Mr. Papademos, Greek Prime Minister, who spoke on condition of anonymity earlier today. The sources confirmed that plans are ready to return to a legacy currency given the current circumstances and that such exit would be dealt with, quote “in as orderly a fashion

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-57229881808574487732012-01-26T21:24:00.001+02:002012-01-28T02:23:23.349+02:00

by Gillian Tett Financial Times January 26, 2012 Last summer, some of America’s largest banks secretly stocked their cash machines with the maximum possible supply of notes. The reason? In July 2011, the bankers feared that the US might be about to suffer a technical default, because Congress could not agree on measures to raise the debt ceiling. So, they decided – after collective discussions

Aristides Hatzishttp://www.blogger.com/profile/15162122643785161564noreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-42694142826041334492012-01-26T20:37:00.000+02:002012-01-28T19:33:47.374+02:00

Financial Times January 26, 2012 David Cameron has delivered a firm rebuke to Germany at the World Economic Forum, calling on Berlin to contribute significantly more resources and guarantees to help solve the eurozone crisis. The British prime minister stressed on Thursday that although progress had been made, particularly with the European Central Bank’s funding of the European banking system,

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-45401303081565623722012-01-26T18:19:00.000+02:002012-01-28T19:03:59.763+02:00

Wall Street Journal January 26, 2012 When JPMorgan CEO Jamie Dimon told reporters earlier this month he was in the “increasingly worried category” of people about Europe, there seemed to be a slight departure from his no worries mantra of the past year. Not so, it appears today. Greece doesn’t frighten him in the slightest. “It is not going to take down the Western world,” he said of a

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-85282892808739553202012-01-26T17:36:00.000+02:002012-01-28T19:16:55.605+02:00

Wall Street Journal January 26, 2012 Greece and its private-sector creditors were set to resume negotiations in Athens later Thursday to restructure the country's towering debt load, amid concerns that Greece's funding needs might be bigger than originally thought. Euro-zone officials in October agreed to provide Greece with debt relief with a planned package to ensure that its debt equals no

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-90449333272298061462012-01-26T16:48:00.000+02:002012-01-28T19:09:35.304+02:00

Wall Street Journal January 26, 2012 WSJ's Stephen Fidler reports from the World Economic Forum in Davos, Switzerland on pointed opposition to German Chancellor Angela Merkel's budget austerity proposals. More

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-73534568012582329142012-01-26T16:28:00.001+02:002012-01-28T20:31:09.938+02:00

by Stephanie Flanders BBC News January 26, 2012 The time for reaching a Greek debt deal is fast running out. That's one thing everyone can agree on here in Davos. But what's less often noticed is that the balance of power around the negotiating table has also shifted lately; against the Eurozone institutions and politicians who most want to see a deal, and in favour of the Greeks themselves.

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-39717009599955591652012-01-26T16:12:00.000+02:002012-01-28T16:12:44.037+02:00

by Fred Bergsten and Jacob Funk Kirkegaard Vox January 26, 2012 Policy reactions to the Eurozone crisis are seen by many as short-sighted, incoherent, and driven by political expediency. This column disagrees. What we are seeing is a game of chicken among the key political and economic powers in Europe. As the crash looms ever closer, the right deals will be struck and Europe will emerge

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-64080104317537553042012-01-26T15:52:00.000+02:002012-01-28T13:52:26.584+02:00

Spiegel January 26, 2012 As fears mount that the euro crisis could trigger a global recession, all eyes are on Germany to take an even stronger lead in the rescue efforts. But Chancellor Angela Merkel has disappointed these expectations, warning against placing too many burdens on Germany. The World Economic Forum couldn't have found a more suitable keynote speaker. Leading the charge in

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-32325112747598299972012-01-26T15:07:00.000+02:002012-01-28T03:35:08.179+02:00

Το Βήμα 26 Ιανουαρίου 2012 Η επιδείνωση των οικονομικών συνθηκών και η αβεβαιότητα για τη έκβαση της δημοσιονομικής κρίσης επηρέασαν αποφασιστικά την επιχειρηματική δράση, όπως καταγράφεται στην ετήσια έκθεση του Ιδρύματος Οικονομικών και Βιομηχανικών Ερευνών (ΙΟΒΕ) για την Επιχειρηματικότητα στην Ελλάδα (2010-2011). Η έκθεση για την Επιχειρηματικότητα στην Ελλάδα αποτελεί την όγδοη περιοδική

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-71686165602964017792012-01-26T15:06:00.000+02:002012-01-28T14:07:33.625+02:00

by Robert Peston BBC News January 26, 2012 David Cameron and entourage have rolled into Davos to sell the investment potential of Olympic-year Britain to the business leaders, investors and bankers who throng the World Economic Forum's annual meeting. But in his plenary address, he also delivered something of a lecture to the eurozone on what it needs to do insure the long-term survival and

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-81787217569335289812012-01-26T14:37:00.000+02:002012-01-28T20:27:15.010+02:00

Reuters January 26, 2012 Greece's conservatives have widened their lead over their socialist coalition partners, but would not secure an absolute majority if elections were held now, a poll showed on Thursday. New Democracy would win 30.5 percent of the vote, according to an opinion poll by VPRC. A total of 12 percent would vote for the former ruling PASOK party, down from 18 percent in the

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-61101434497379733582012-01-26T12:19:00.000+02:002012-01-28T14:09:16.996+02:00

by Robert Peston BBC News January 26, 2012 On the official second day of the World Economic Forum here in Davos, I have just interviewed Baudouin Prot, the chairman of BNP Paribas, the huge French bank which is seen as one of Europe's stronger banks. He had two or three pretty interesting claims to make - though I should say at the outset that not everyone will agree with him. First he is

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-87716218840558230462012-01-26T10:33:00.000+02:002012-01-28T02:34:07.926+02:00

του Γιώργου Καρελιά Protagon.gr 26 Ιανουαρίου 2012 Ξεκινώ από την… ιερή αγανάκτηση που ξεσηκώθηκε μετά τη δήλωση του Χρυσοχοΐδη ότι δεν έχει διαβάσει το Μνημόνιο. Πού είναι η έκπληξη, παιδιά; Την αλήθεια, είπε. Εμένα με ενοχλεί περισσότερο το γεγονός ότι το λέει, για να εντυπωσιάσει, τώρα που έχει αρχίσει η κούρσα διαδοχής στο ΠΑΣΟΚ (πιστεύει, -προφανώς, αλλά αφελώς- ότι θα έχει καλύτερη τύχη,

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-18965232547517511642012-01-26T08:11:00.000+02:002012-01-28T19:12:10.382+02:00

Wall Street Journal January 26, 2012 International Monetary Fund chief Christine Lagarde said Greece's public-sector creditors may have to take a hit on their loans if private lenders can't agree on a restructuring plan that goes far enough to make the country's debt sustainable. "The bigger the private effort, the smaller the participation of public creditors will need to be," Ms. Lagarde said

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-55287558090001297802012-01-26T08:07:00.000+02:002012-01-28T19:08:01.536+02:00

Wall Street Journal January 26, 2012 German Chancellor Angela Merkel, sharply criticized for her government's prescriptions of austerity as a cure for the euro zone's sovereign-debt crisis, said labor-market reforms and greater European integration also were needed to correct flaws in the makeup of the common currency. But in a speech formally opening the World Economic Forum, she gave no sign

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-67176633429324982762012-01-26T00:35:00.000+02:002012-01-28T03:08:24.430+02:00

Guardian January 25, 2012 Angela Merkel has cast doubt for the first time on Europe's chances of saving Greece from financial meltdown and sovereign default, conceding that Europe's first ever multibillion euro bailout coupled with savage austerity was not working after a two-year crisis that has brought the single currency to the brink of unravelling. In an interview with the Guardian and five

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-9530427857540275922012-01-26T00:27:00.001+02:002012-01-26T02:40:35.109+02:00

Reuters January 25, 2012 Greece hopes to wrap up tortuous negotiations on a debt swap this week when private creditors return to Athens for a fresh round of talks to avert a chaotic default, it said on Wednesday. After weeks of bargaining, deadlocks and an intervention by euro zone ministers, Greece and its bondholders find themselves back at the drawing board as they search for a compromise

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-21190399926637124992012-01-26T00:27:00.000+02:002012-01-26T02:34:18.744+02:00

Reuters January 25, 2012 Public sector holders of Greek debt, such as the European Central Bank, may need to take a haircut if a private sector restructuring is not enough to make Greece's debt burden sustainable, IMF Managing Director Christine Lagarde said on Wednesday. Talks with private sector creditors hit an obstacle on Monday when euro zone ministers rejected their demands for a 4

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-26379307114697549932012-01-26T00:05:00.000+02:002012-01-26T02:56:55.042+02:00

Bloomberg January 26, 2012 Talks on a debt swap to avert a Greek default resume today as international policy makers squabble over the mounting cost of the rescue. Charles Dallara and Jean Lemierre, negotiating on behalf of private creditors, return to Athens today after European finance ministers insisted bondholders take bigger losses on their Greek debt. The International Monetary Fund

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-64045568005639336142012-01-25T23:47:00.000+02:002012-01-26T02:55:28.693+02:00

by James Mackintosh Financial Times January 25, 2012 When a Greek bond first yielded 100 per cent, in September, the shock value was almost lost amid the global gloom. Now the yield on its March bond is 1,100 per cent, and on Wednesday morning rose 100 percentage points. It might be the only bond (outside hyperinflation) to offer more than 1,000 per cent. It is a multiple of what Russian or

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-15276744706314683082012-01-25T23:40:00.000+02:002012-01-26T00:26:43.499+02:00

Wall Street Journal January 25, 2012 German Chancellor Angela Merkel, sharply criticized for her government's prescriptions of austerity as a cure for the euro zone's sovereign-debt crisis, said labor-market reforms and greater European integration also were needed to correct flaws in the makeup of the common currency. But she gave no sign that Germany would be willing to pour more resources

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-58536737265203681942012-01-25T23:21:00.000+02:002012-01-28T02:07:40.847+02:00

Financial Times January 25, 2012 The often taciturn International Monetary Fund has had a lot to say this week about the eurozone debt crisis. Christine Lagarde, its managing director, urged the eurozone on Monday to create a much bigger rescue fund for its troubled governments, holding out the prospect that the fund might seek to increase its own firepower in return. On Wednesday she argued

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-91225993044779657252012-01-25T22:10:00.000+02:002012-01-28T03:06:33.925+02:00

Guardian January 25, 2012 Greece has played down comments by Angela Merkel which cast doubt on the debt-stricken country's ability to be saved from economic collapse, saying they had been "over-read" by the media. Within hours of the German chancellor's remarks in a Guardian interview, Greek officials said there was no indication that Berlin had "given up hope" on Athens coming out of its worst

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-87280612076140218822012-01-25T22:06:00.000+02:002012-01-26T02:32:23.669+02:00

Reuters January 25, 2012 The European Central Bank has ruled out taking voluntary losses on its Greek bond holdings but is now debating how it would handle any forced losses and whether to explore legal options to avoid such a hit, central bank sources told Reuters on Wednesday. Earlier this month, speculation that the bank was considering taking losses on its Greek bonds as part of broader

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-20321814089661848552012-01-25T20:05:00.001+02:002012-01-26T12:18:47.595+02:00

του Ι.Κ. Πρετεντέρη Τα Νέα 25 Ιανουαρίου 2012 Βαφτίζεις τον εαυτό σου «δημιουργική δύναμη του τόπου». Αποφασίζεις, δηλαδή, ότι είσαι ο καλός. Βαφτίζεις τους άλλους «λαϊκιστές». Τους ανακοινώνεις, δηλαδή, ότι είναι οι κακοί. Προφητεύεις πως αν γίνουν σήμερα εκλογές θα επικρατήσουν οι «λαϊκιστές». Άρα, η πατρίς κινδυνεύει - από τους κακούς! Το λογικό συμπέρασμα είναι συνεπώς ότι δεν χρειάζεται

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-68393956812787874642012-01-25T20:00:00.000+02:002012-01-26T02:01:17.425+02:00

by C. Randall Henning and Martin Kessler Vox January 25, 2012 In the last few months, several Vox columns have drawn parallels between Europe today and an emerging – and even less stable – United States in the eighteenth century. This column stresses that Europe’s leaders in search of a fiscal union need not seek to replicate the US experience but they should at least learn from it. The

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-37937359645886046182012-01-25T19:54:00.000+02:002012-01-28T02:54:34.031+02:00

Bloomberg January 25, 2012 Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, discusses Greece's debt woes and Europe's ability to fight the sovereign-debt crisis. He speaks with Caroline Connan in Davos, Switzerland, the site of the World Economic Forum's annual meeting. More

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-73805758699548448102012-01-25T19:19:00.001+02:002012-01-26T01:22:30.799+02:00

by David Henry Bloomberg January 25, 2012 Patience is running out. We are now in the third calendar year of Europe's sovereign-debt crisis and the region's No. 1 problem child, Greece, is looking more and more like a hopeless case. Without a new rescue package of 130 billion euros ($168 billion), the country might be bankrupt by March. Calls for Europe's northern countries, notably Germany, to

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-84240195389312555322012-01-25T19:01:00.000+02:002012-01-26T03:01:43.646+02:00

Spiegel January 25, 2012 Time is running out for reaching an agreement with private investors on a Greek debt haircut, with negotiations stalled over interest rates. Meanwhile Germany continues to reject pressure to increase its contribution to the permanent bailout fund. German commentators are pessimistic. Tensions are running high amid urgent efforts to reduce Greece's huge debt,

Yulie Fokanoreply@blogger.com0tag:blogger.com,1999:blog-6365578378374774181.post-52476337753450803262012-01-25T19:00:00.000+02:002012-01-26T02:59:17.747+02:00

Spiegel January 25, 2012 The negotiations over the Greek debt haircut are becoming increasingly suspenseful, with euro-zone finance ministers and the IMF pushing investors to accept greater losses. Hedge funds, more than any others, stand to profit, and are betting that the voluntary debt rescheduling will fail. Who will bleed for Greece? For weeks, private creditors like banks and insurers

Yulie Fokanoreply@blogger.com0