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By God, the Greeks will suffer for profligacy. If the IMG and Eurozone nations give them a dime, they will take it out in blood. The rescue package which was once 40 billion euros or 50 billion will...
12 years ago
Last Updated: 12 years ago
Spanish unemployment was higher than estimated in the first quarter which means that its credit crisis may be getting worse more quickly then believed. Information from Spanish newspaper ABC.es and...
12 years ago
Last Updated: 12 years ago
Update: The German opposition Green Party said that the Greek bailout could cost 120 billion euros.The yield on Greek two-year bonds rose to 13.5% as S&P cut the credit rating of the nation’s...
12 years ago
Last Updated: 12 years ago
In another sign that the sovereign debt problem in Europe could spread beyond Greece, S&P downgraded the debt of Portugal by two levels to A- from A+. Greece’s debt was simultaneously cut to...
12 years ago
Last Updated: 12 years ago
The ministers attending the G20 conference urged the IMF and Eurozone nations to handle the debt situation in Greece as quickly as possible. There is understandable concern that if the capital...
12 years ago
Last Updated: 12 years ago
Angela Merkel, Germany’s Chancellor, is about to walk away from offering aid to Greece. That will almost certainly lead to Greece’s default on its sovereign obligations. Greece does not have the...
12 years ago
Last Updated: 12 years ago
Greece petitioned Eurozone nations and the IMF for the funds necessary to keep it solvent, according to several media sources. The Eurozone countries have made a “promise” to join the...
12 years ago
Last Updated: 12 years ago
The International Monetary Fund is out with its latest World Economic Outlook. The document goes to great lengths to contradict itself, leaving the reader to wonder if the global financial situation...
12 years ago
Last Updated: 12 years ago
The good news from the IMF April Global Stability Report is that worldwide bank write-down should be $2.3 trillion and not the $2.8 trilion that the agency estimated last October. The IMF said...
12 years ago
Last Updated: 12 years ago
The IMF said that the growth of the global economy is heating up and that worldwide GDP will be 4% this year. Last October the estimate was as low as 3.1%. China, of course, is at the lead with...
12 years ago
Last Updated: 12 years ago
George Papandreou, the besieged prime minister of Greece, told his parliament that the southern European nation is not bankrupt though the IMF may have to join Eurozone nations in a...
12 years ago
Last Updated: 12 years ago
Regulators in the US and Europe are still sifting through a variety of programs that would create a tariff on large banks to create a pool of money that could be used if one of the firms fails....
12 years ago
Greece will have to raise 12 billion euros in the next two months to relieve its sovereign debt obligations and cover deficits. That is a relatively small part of the 54 billion euros it will need...
12 years ago
Last Updated: 12 years ago
The most remarkable thing about the 30 billion euro bailout package for Greece by the euro-zone nations is the interest rate–5%. The yield on Greek sovereign debt was well over two points...
12 years ago
Last Updated: 12 years ago
Greece needs 53 billion in euros to cover its deficit and debt service this year. Germany and France are dragging their feet rather than providing Greece immediate aid, for reasons that are not...
12 years ago
Last Updated: 12 years ago