PIIGS Becoming IGS? (minus Portugal, Ireland)

PIIGS Becoming IGS? Portugal, Ireland Look Better CNBC.com The markets have gathered the most heavily indebted euro zone members - Portugal, Ireland, Italy, Greece and Spain – under the acronym PIIGS. Portugal and Ireland, both previous holders of the "next to fail" badge in the euro "We are seeing positive ...

5 Figures That Will Ensure a Greek Default Occurs msnbc.com Will Greece default on its billions in debt and, if so, will its default send a ripple effect throughout the world? While it's tough to say if a Greek default is enough to cripple the worldwide economy, it's pretty clear that even an orderly default ...

Surge in default notices portends more REOs Inman.com A total of 228098 properties nationwide received foreclosure filings (including defaultnotices, auction sale notices or bank repossessions) last month, down nearly 33 percent from August 2010, but up 7 percent from July, the report said. ...

Fears of Greek default sparked bank response Financial Times By Peter Spiegel in Brussels If opponents of allowing Greece to default on its sovereign debt needed any more ammunition to argue that it is a wrong-headed strategy, this was the week that provided them ample firepower. ...

Ecofin meet on Euro debt hopes euronews The economic and financial affairs council, Ecofin met in Wroclow in Poland amidst mounting concern over a Greek default, when to release the next eight billion euros to Athens and the effect the debt crisis is having on the global markets. ...

Risk on Europe's Junior Bank Bonds Posts Record Weekly Decline BusinessWeek 16 (Bloomberg) -- The cost of insuring against default on Europe's junior bank bonds posted the biggest ever weekly decline after politicians met in Poland to discuss efforts to contain the sovereign crisis. The Markit iTraxx Financial index of ...

Foreign Treasury holdings fell during debt debate The Associated Press But overall foreign holdings fell for only the second time in more than two years, a sign that some investors worried about a possible default. The Treasury Department's monthly report issued Friday showed that China, the biggest buyer of US Treasury ...

Default Swaps Say Subprime Mortgage Bonds Losing Gains -Fitch Wall Street Journal "The summer-long rally for US subprime credit default swaps (CDS) has come to a screeching halt," the firm said in a statement Friday. The 2007 vintage saw the biggest drop in performance because the mortgage loans packaged to create the securities ...

Citibank credit card defaults rise again in August BusinessWeek Citibank on Thursday said that its credit card default rate rose for the second straight month, even as late payments fell. The credit card division of Citigroup Inc. said in a regulatory filing that itsdefault, or charge-off rate, ...

Greek Notes Outperform as Default Concern Eases on Merkel, ECB Bloomberg 2, indicating investors are less concerned that the nation will default. The difference in yield, or spread, between the two securities narrowed by 1876 basis points, or 18.76 percentage points, to 3005 basis points as of 1:11 pm in London. ...

Latest in Deficit Terrorism: Postal Service Default Wall Street Pit The notion that an agency of the federal government can default on its obligation to – gasp, another agency of the same federal government – indicates a wholesale collapse in mental capacity. Deficit terrorists, small government conservatives and other ...

White House worried about Solyndra default Forbes By MATTHEW DALY , 09.15.11, 11:08 PM EDT WASHINGTON -- White House officials discussed the political ramifications of a possible default by a troubled solar energy company that received more than $500 million in federal loans, newly released emails ...

PIIGS Lifeline Rallies Stocks — For Now Smartmoney.com (blog) If the coordinated action works, it should provide relief to the troubled PIIGS economies (Portugal, Ireland, Italy, Greece and Spain). But more importantly — at least for American investors — it could help those banks in surrounding countries that ...

Financial crisis has 'paralysed' politicians says Ken Clarke BBC News Political leadership in Washington and Western Europe has suffered "paralysis" in the face of the financial crisis, former chancellor Ken Clarke has said. He told BBC Two's Newsnight that governments had been "overwhelmed" by the scale of the crisis. ...

Fitch: 65.2% Recovery Rate on US HY Defaults Through August, Fundamentals Show ... MarketWatch (press release) The trailing 12-month (TTM) US high yield default rate slipped to 1.2% from 1.3% in July, with the August year-to-date default tally of $4.7 billion remarkably close to the $4.6 billion recorded in the first eight months of 2010. ...

Europe, US face 10 years of slow growth-UK's Brown Reuters A growing number of policymakers, as well as market economists, are convinced it is only a matter of time before Greece, which keeps falling behind on fiscal targets agreed with its international creditors, will have to default. ...

Tánaiste refuses to speculate on Greek default Irish Examiner The Tánaiste Eamon Gilmore is refusing to say what plans are in place for the Irish economy in the event of a Greek debt default. Mr Gilmore said that while there are several plans the Government does not want to speculate on what might happen if the ...

Germany Overtakes Spain in Debt Wagers Amid Crisis: Euro Credit San Francisco Chronicle The net amount of German debt covered by credit-default swaps surged 20 percent this year to $18.2 billion, making it the third most-referenced European sovereign after France and Italy, according to the Depository Trust & Clearing Corp. ...

Greece Should Stay in Euro Even in Default, Montenegro Says Bloomberg “It's even better to go through a sort of a default or whatever that will be a managed one rather than going back to the drachma,” Luksic, 35, said in a telephone interview today from the capital, Podgorica. “The true long-term response is to keep the ...

Financial Crisis Affects Swazi Orphans, Vulnerable Children SOS Children's Villages Canada (press release) Swaziland's financial crisis is continuing to have implications for most vulnerable young segments of society. On Tuesday, some principals in Swaziland protested the lack of school fees to pay for some of the children. According to education officials, ...

Harris-Stowe, Fontbonne Notch Worst Student Loan Default Rates Locally Riverfront Times (blog) 16 2011 at 12:00 PM Nationally, the rate of former college students defaulting on their federal student loans shot up this year -- with 8.8 percent of borrowers now in defaultas opposed to just 7 percent last year, according to the US Department of ...

Economic Daily News: Will BRICs save troubled PIIGS nations? Focus Taiwan News Channel Since the global financial crisis erupted in 2008, a series of satirical dramas have unfolded one after another. The latest one is the BRICs nations, led by China, coming to the rescue of Europe's troubledPIIGS members. If we look deeper, ...

President Bush Explains the Financial Crisis to a Nation of Third ... By Tim [Back to the subject of "root cause" for the 2008 financial crisis after yesterday's rumination about gold we find former President George W. Bush explaining the situation to a confused and bewildered public in a dumbed down way that seemed ... The Mess That Greenspan Made

World Bank warns fiscal crisis could jeopardize recent gains | Green ... By IRIN The Palestinian Authority (PA) in the occupied Palestinian territory (oPt) has made substantial progress in implementing its institution-building agenda in preparation for possible future statehood, but a severe fiscal crisis and lower economic ... Green News | Sustainability News...

Chart of the Week: Student Loan Default Rates By Jonathan Robe According to data released by the U.S. Department of Education on Monday, the student loan default rate nationally climbed to 8.8% for fiscal year 2009, the highest the national default rate has been since 1997 (the default rate was just 7% in ... The Center for College Affordability...

Loan default seen as election issue - Spokesman.com - Sept. 16, 2011 WASHINGTON – White House officials discussed the political ramifications of a possible default by a troubled solar energy company that received more than $500 million in federal loans, newly released emails show. Emails released ... Spokesman.com: Latest stories

Papasavvas Says Greece Likely to Default on Debt in 2012 - YouTube By Bloomberg Sept. 16 (Bloomberg) -- Thanos Papasavvas, head of currency management at Investec Asset Management Ltd., talks about the likelihood of default by Greece on ... Uploads by Bloomberg

Mortgage default warnings surged in August - Yahoo! Finance LOS ANGELES (AP) -- Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a. finance.yahoo.com/.../Mortgage-default-warnings-apf-157937...

Greek Default Insurance Costs Rise, Others Drop | Fox Business The spread on five-year Italian credit default swaps, or CDS, narrowed by 27 basis points to 480 basis points, according to data provider Markit. That means it ... www.foxbusiness.com/.../greek-default-insurance-costs-rise-ot...