Why Greece Could Be the Next Dubai
The parlous state of Greece's public finances has hit the country's credit rating and its stock market. Will Greece be the next to go?
Time Magazine,
Wed Dec 09 12:09:43 PST 2009
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Greece vows action on debt as peers pile on pressure
Greece vowed on Wednesday to do whatever it takes to check its vast deficit but took yet another beating on markets, as EU partners piled pressure on Athens to take action after its rating ...
Reuters via Yahoo! News,
Wed Dec 09 08:16:21 PST 2009
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Topix.net
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CORRECTED: Greece vows action on debt under peer pressure
Greece's prime minister vowed to do whatever it takes to check the country's vast deficit as European partners piled pressure on Athens to take action, a day after its credit rating was cut...
Reuters via Yahoo! News,
Wed Dec 09 08:05:19 PST 2009
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Fears over Greece and Dubai weigh on nervous markets
(FT) -- Weak Japanese economic data combined with continued concerns about debt-laden Greece and Dubai to keep global bourses in cautious mood on Wednesday.
CNN,
Wed Dec 09 08:43:09 PST 2009
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Greece admits crisis, promises quick budget action
Greece revealed on Wednesday that it is working on radical action to reverse a deepening financial crisis which is straining eurozone cohesion and focusing market anxiety on emerging econom...
AFP via Yahoo! News,
Wed Dec 09 04:57:23 PST 2009
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Greece downgraded over high debt
London, England and Athens, Greece (FT) -- Greece saw its credit ratings downgraded to the lowest level in the eurozone on Tuesday as fears mounted over its deteriorating public finances.
CNN,
Wed Dec 09 01:49:07 PST 2009
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Greece struggles with credit rating cut
ATHENS, Greece, Dec. 9 (UPI) -- A lower credit rating prompted a sharp drop in Greece's stock market and a call from the European Commission for the government to reduce its deficit.
UPI,
Wed Dec 09 11:14:53 PST 2009
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After rating cut, Greece vows action on deficit
Greece's new socialist government promised Wednesday to step up efforts to reduce the growing deficit after a ratings agency downgraded the country's debt rating.
AP via Yahoo! Finance,
Wed Dec 09 08:52:10 PST 2009
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Emerging-Market Stocks Fall on Dubai, Greece, Spain Concern
Dec. 9 (Bloomberg) -- Emerging-market stocks fell for a fourth day, their longest losing streak in more than two months, as Dubai struggled to restructure debt, Greece
Bloomberg,
Wed Dec 09 08:59:35 PST 2009
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Greece Government Bond Tumble Fails to Entice Pictet (Update2)
Dec. 9 (Bloomberg) -- The biggest drop in Greece bonds in more than a decade isn
Bloomberg,
Wed Dec 09 06:21:30 PST 2009
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Israeli Bond Yields Climb as Greece Woes Crimp Risk Appetite
Dec. 9 (Bloomberg) -- Israeli government bonds fell for a sixth day, pushing yields to their highest in almost two months, as concern over a possible default in Greece lowered investors
Bloomberg,
Wed Dec 09 07:46:05 PST 2009
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Greece under pressure to take budget action
Greece is set to face mounting pressure from markets looking for aggressive government action to curb the country's overspending in the wake of a credit downgrade and violence in the street...
AFP via Yahoo! News,
Tue Dec 08 18:16:49 PST 2009
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German Government Presses Greece to Address Budget Deficit
Dec. 9 (Bloomberg) -- Chancellor Angela Merkel
Bloomberg,
Wed Dec 09 06:06:09 PST 2009
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Emerging-Market Stocks Fall on Dubai, Greece Concern; Yen Rises
Dec. 9 (Bloomberg) -- Emerging-market stocks fell for a fourth day, their longest losing streak in more than two months, as Dubai struggled to restructure debt and Greece
Bloomberg,
Wed Dec 09 05:51:35 PST 2009
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Greece Downgrades May Hinder Banks Seeking ECB Loans (Update1)
Dec. 9 (Bloomberg) -- Greek government bonds may not be eligible as collateral at the European Central Bank if the ECB reverts to pre-crisis rules in 2011, making it more difficult for Gree...
Bloomberg,
Wed Dec 09 04:36:42 PST 2009
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Stocks Retreat on Dubai, Greece Debt Concern; Yen, Gold Advance
Dec. 9 (Bloomberg) -- Stocks fell in Asia and Europe, with the benchmark index for emerging markets sinking for a fourth day, as Dubai struggled to restructure debt and Greece
Bloomberg,
Wed Dec 09 04:29:36 PST 2009
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German Government Urges Greece to Consolidate Finances: Steegman
Dec. 9 (Bloomberg) --
Bloomberg,
Wed Dec 09 05:21:17 PST 2009
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Ireland to Appease
Dec. 9 (Bloomberg) -- Ireland is poised to show Greece a way to cut ballooning budget deficits. Finance Minister Brian Lenihan will today announce plans to cut spending by 6 percent in the ...
Bloomberg,
Wed Dec 09 03:21:35 PST 2009
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Greece Downgrades May Hinder Banks Seeking ECB Loans (Correct)
(Corrects to show figure refers to ECB collateral, not Greek debt, in twelfth paragraph.) Dec. 9 (Bloomberg) -- Greek government bonds may not be eligible as collateral at the European Cent...
Bloomberg,
Wed Dec 09 03:35:26 PST 2009
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