U.S. stocks were mixed Friday, a day after finishing the previous session at multi-year highs. But the moves were minor as investors hesitated ahead of a key vote on a second bailout for Greece.
Hedge fund titan John Paulson is predicting that Greece may default by the end of next month causing the euro to break up, according to Bloomberg News.
Rumors about the European Central Bank exchanging holdings of Greek bonds with Greece for less than face value are back today.
The latest buzz from Europe is that in order for Greece to get a bailout, the leader of the super-right LAOS party will need to sign a letter saying he endorses the latest reform plan.
Good morning. Here's what you need to know.
Stocks are selling off sharply across Europe
Back in the hot days of July 2011, European leaders demanded austerity from Greece.
The persistent European debt crisis, the messy U.S. fiscal situation, and the slowing Chinese economy all continue to pose threats to the global economy in 2012
A quick look at 10-year Italian yields reveals... they've stopped improving. In fact, rather than moving towards 5%, they're going back to 6%.
Greece is being raped and pillaged
How the IMF Got Its Keynesian Groove Back ... Two events in recent years put the IMF back on the Keynesian track:
As debt-plagued Greece struggles to meet Europe’s strict terms for receiving its next round of bailout money, the lesson of Portugal might bear watching. Unlike Greece, Portugal is a debtor nation that has done everything that the European Union and
Greece is becoming the test site for an extreme case of neoliberal social engineering.Entered By: Robert Lee
The great myth of the last few decades is that people can establish sustainable savings by investing in other people’s debt.
As anticipated in November 2011, Moody's Investors Service has today adjusted the sovereign debt ratings of selected EU countries in order to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area c
The European Union is likely to take action against Spain's newly installed government by May for delaying austerity measures. European Commission believes the new government overstated the deficit figures for 2011 so the current year's data would lo
Rating agency Moody's warned it may cut the triple-A ratings of France, Britain and Austria and it downgraded six other European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis.
Greek people being consigned to serfdom and deep poverty
...CUTS OUTLOOK ON Aaa RATED FRANCE, AUSTRIA AND UK
Protesters in Athens are clashing with police, some throwing stones and Molotov cocktails. Greece's coalition government managed to agree on a new austerity deal their creditors demanded.
Stocks rose Monday as Greece's parliament approved strict financial reforms needed to obtain its latest international bailout package.
ATHENS -- Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after rioters in central Athens torched buildings, looted shops and clashed with riot police.
Rating agency Standard & Poor's downgraded 34 Italian banks on Friday, including heavyweights UniCredit (CRDI.MI) and Intesa Sanpaolo (ISP.MI), citing a reduced ability to roll over their wholesale debt and expected weak profitability.
Although hopes for a positive outcome in Greece were buoyed by news that Greek politicians had come to an agreement on austerity measures yesterday, that enthusiasm has quickly vanished.
If the global economy is not heading for a recession, then why is global shipping slowing down so dramatically? Many economists believe that measures of global shipping such as the Baltic Dry Index are leading economic indicators.
Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.
At this point everyone is so habituated to worthless updates from Greece that we are shocked Bloomberg even noticed. Either way, here is latest Greek headline tape bomb, via BBG, which looks at a leaked Troika draft report obtained by Bloomberg.
At 2,717 feet, the Burj Khalifa is the tallest building in the world, but since its opening two years ago, it has struggled to profit from its grand reputation.
Yesterday, the WSJ reported that the European Central Bank may have conceded to return Greek sovereign bonds to Greece in exchange for less money than the bonds' face value. This is probably the start of something big.
Last month, German bank WestLB rolled out a new “Islam-compliant” investment product named the Islamic Strategy Index Certificate. The value of the certificate is based on the value of the WestLB Islamic Deutschland Index, consisting of shares of ten