Latest Greece Headlines
All the headlines from our Greece Topic Page, ordered by recency.
Report: Greek Bondholders – Banks and Insurers – Set for 74% Haircuts
Feb 21 2012 // Banks are set to lose almost three-quarters of the value of their Greek government bonds under a deal agreed early on Tuesday, slightly more than they had planned, people familiar with the matter said. Investors had...
Cruise Ship Industry Leaves Crash Victims Little Hope for Recovery
Feb 21 2012 // When Walter Henry Alderfer learned last month about the Costa Concordia shipwreck off Italy, it brought back bad memories. In April 2007, he, his wife and his daughter were aboard the Sea Diamond cruise ship when it struck...
Moody’s Warns May Downgrade Global Banks, Cuts Ratings on Insurers
Feb 16 2012 // Moody’s warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global...
Euro Zone Ministers Reject Private Bondholders’ Offer on Greek Bonds
Jan 24 2012 // Euro zone finance ministers on Monday rejected as insufficient an offer made by private bondholders to help restructure Greece’s debts, sending negotiators back to the drawing board and raising the threat of Greek...
World Economy Counts the Cost of Euro Zone Dithering
Nov 23 2011 // From credit bottlenecks in Eastern Europe to slower growth in China, delays in tackling the euro zone’s debt crisis are causing ever-greater economic and financial damage well beyond the borders of the 17-nation...
Is the World a Riskier Place? Insurance Industry’s Hartwig Answers
Nov 21 2011 // Is the world becoming a riskier place?” That was the question posed by Insurance Information Institute President and Chief Economist Robert Hartwig during his talk at the annual Professional Liability Underwriting...
Breaking up the Euro? Try Unscrambling an Omelet – an Analysis
Nov 17 2011 // Can you unscramble an omelet? That, in essence, is what euro zone leaders and the global monetary policy elite will have to do if the euro zone is to be reshaped in any semblance of an orderly manner, be it by letting...
IMF Head Warns World Economy Risks a ‘Lost Decade’
Nov 9 2011 // The head of the International Monetary Fund warned on Wednesday that Europe’s debt crisis risked plunging the global economy into a “lost decade” and said it was up to rich nations to shoulder the burden...
France, Germany Give Greece Ultimatum on Euro
Nov 3 2011 // The leaders of Germany and France told Greece on Wednesday it would not receive another cent in European aid until it decides whether it wants to stay in the euro zone. They also made clear that saving the euro was...
Is the World a Riskier Place? Insurance Industry’s Hartwig Answers
Nov 2 2011 // “Is the world becoming a riskier place?” That was the question posed by Insurance Information Institute President and Chief Economist Robert Hartwig during his talk at the annual Professional Liability...
Greek Referendum Plan Threatens New Euro Zone Crisis
Nov 1 2011 // Prime Minister George Papandreou’s shock announcement that he will put Greece’s bailout to a referendum threatened to intensify the euro zone crisis, and brought complaints in Germany that Athens is trying to...
Markets Cheer Euro Deal But Questions Remain
Oct 27 2011 // The euro and stocks rallied on Thursday after European leaders struck a deal to provide debt relief for Greece, but analysts warned the plan would fail to halt the euro zone’s two-year-old debt crisis unless crucial...
Germany Rebuffs France on Euro Zone Solution; Insurance for Bonds an Option
Oct 21 2011 // France’s push to use more European Central Bank money to fight the euro zone debt crisis ran into strong resistance from Germany and other EU partners on Friday, leaving Paris increasingly isolated before a crucial...
Italy Downgrade, Greek Worry Dominate Europe’s Financial Markets
Sep 20 2011 // Standard & Poor’s downgrading of Italian debt hit the euro on Tuesday, although stock investors shrugged off the move to push European stocks higher. Markets remain on edge about Greece’s rickety finances...
European Insurers’ Greek Hit Fuels Debt Concerns
Aug 5 2011 // Allianz and Generali followed rivals in aggressively writing down holdings of Greek government bonds on Friday, fuelling investor concerns about the possible impact on insurers of a worsening sovereign debt...
ING Wavers on Insurance IPO Plan
Aug 4 2011 // ING will not be launching a stock market flotation for its insurance operations any time soon and trade buyers are expressing interest, the Dutch bancassurer said on Thursday. European Commission regulators seeking payback...
When Rating Agencies Judge the World – an Analysis
Aug 3 2011 // The man who holds in his hands the fate of U.S. credit, and with it potentially the global economy, favors small tie knots, sports a bushy mustache and smokes his fair share of cigarettes. Beyond that, he is a mystery,...
Europe’s Banks, Insurers Take Greek Debt Hit in Stride
Jul 22 2011 // Major European banks have limited their losses on Greek bonds to just over €5 billion [$7.2 billion] after negotiating a 21 percent haircut on their debt holdings as part of a rescue plan. France’s BNP Paribas is...
Pirates Release Greek Tanker; All Crew Safe Says Manager
Jul 18 2011 // Pirates released a Greek-owned, Liberia-flagged tanker they had seized on Saturday 12.5 miles [20 kms] off the coast of Benin, and all the crew were safe, the vessel’s manager said on Monday. The 11,520 deadweight...
Stress Test Puts Banks’ Euro Zone Debt in Spotlight
Jul 18 2011 // Pressure on Europe’s banks to raise more capital increased on Monday after last week’s stress tests revealed their holdings of European sovereign debt, with likely losses on Greek bonds a growing concern. A...
