"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Wednesday, February 22, 2012

Eurozone agrees to second Greek bail-out

Eurozone agrees second Greek bail-out
Financial Times
By Peter Spiegel and Alex Barker in Brussels Eurozone finance ministers reached a long-delayed €130bn second bail-out for Greece early on Tuesday after strong-arming private holders of Greek bonds to take even deeper losses than they had accepted last ...

Financial Times

Experts react to Europe's bailout package for Greece
Washington Post (blog)
Late Monday night, the euro zone agreed to a $170 billion bailout package for Greece in exchange for certain budgetary oversight measures and economic reforms. We asked a group of experts and economists to weigh in on the deal — and whether it's ... 

Eurozone deal: Greek default could still happen
BBC News
eurozone finance ministers finally reached an agreement in principle on a second Greek bailout, this one worth 130bn euro plus a 50%+ write-down of private lenders holdings of Greek sovereign debt. Since it's less than two years since Bailout 1 of ...

BBC News

Eurozone approves new $173B bailout for Greece
CNN International
By Kevin Voigt, CNN (CNN) -- Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including €130 billion ($173 billion) in new financing. The finance ministers from the 17 nations that use the euro, ...

Gold up one percent on Greek deal, economic uncertainty
Reuters
Gold rallied to its highest in more than two weeks after Euro zone finance ministers agreed a 130-billion-euro ($172 billion) rescue for Greece. Analysts said the deal bought time for the single-currency bloc but left deep doubts about Greece's ability ...

Europe seals new Greek bailout but doubts remain
Reuters
By Annika Breidthardt and Jan Strupczewski | BRUSSELS (Reuters) - Euro zone finance ministers agreed a 130-billion-euro ($172 billion) rescue for Greece on Tuesday to avert an imminent chaotic default after forcing Athens to commit to unpopular cuts ...

Financial News: Greek Contagion Contained (For Now)
Wall Street Journal
The terms of the bailout were less favorable than expected for private investors - they are now being asked to accept a haircut of 53.5% on their bonds rather than 50% - but fears about acontagion effect elsewhere in the region have not been borne out ...

Comments from meeting of EU finance ministers
Reuters
| BRUSSELS (Reuters) - Euro zone finance ministers and private sector representatives finalized a deal early on Tuesday morning to provide 130 billion euros of new financing to Greece in return for cuts and reforms. The deal relies on private creditors ...

Euro hits nearly 2-week high vs dlr on Greek deal
Reuters
Gains, however, could fade due to hurdles about the deal's implementation and its wide-ranging implications for the struggling euro zone economy, Euro zone finance ministers agreed on a 130-billion-euro ($172 billion) bailout for Greece on Tuesday to ...

AT A GLANCE: Euro Zone Seals A Greek Bailout Deal
Wall Street Journal
Euro-zone finance ministers early Tuesday agreed an ambitious EUR130 billion rescue deal that will see Greece's private creditors take an even larger loss in order to put the debt-laden country on a sustainable footing and avert a catastrophic default.

Euro Zone Votes to Stick Together
Wall Street Journal
By taking this catastrophic risk off the table, at least for now, the euro zone will have given another boost to market confidence. Even now, a bad outcome can't be ruled out. The bailout depends on Greece completing the bond swap with private ...

Eurozone government bonds rally
Financial Times
By David Oakley Eurozone government bonds rallied yesterday as the threat of a disorderly Greek default receded after European finance ministers agreed on the terms of a second Athens bail-out. Investors were heartened by plans for the second rescue of ...

Eurozone Ministers Approve New Greek Bailout
Voice of America (blog)
Eurozone finance ministers have approved a new $172-billion bailout for Greece, the second for the debt-ridden country in two years. The financial-rescue package could reduce the Greek government debt from about 160 percent of the country's economic ...

Greece steps back from brink of default as eurozone stitches together $170 ...
Washington Post
The eurozone and the International Monetary Fund, which will be providing the money for the new bailout, hope the new program will eventually put Greece back into a position where it can survive without external support and secure its place in the euro ...

Greek Deal Greeted With Relief Outside Euro Zone,But Risks Remain
Wall Street Journal
Uncertainty swirling about Greece's ability to avoid a disorderly default on its debts and the related financial difficulties experienced by other euro-zone nations has weakened economies outside the currency area. Speaking on his way into a meeting of ...

FOREX-Euro hits nearly 2-week high vs dlr on Greek deal
Reuters
* Euro gains despite doubts about Greek bailout implementation * Resistance just above $1.33 seen capping euro gains * Euro zone consumer confidence rises in February * Dollar/yen hovering near 6-1/2-month high By Gertrude Chavez-Dreyfuss NEW YORK, ...

Greece averted nightmare scenario - finance minister
BBC News
The cabinet was meeting to discuss how to pass the reforms stipulated by international lenders, which include huge spending cuts and beefed-up monitoring by eurozone officials. Trade unions have called strikes and protests for Wednesday.

BBC News

Eurozone ministers approve $170-billion bailout for Greece
Los Angeles Times
Greece's leaders welcome the package meant to help their nation avoid default, though it will bring a fresh round of austerity cuts. Greek police officers carry riot shields in Athens last week. (Simon Dawson, Bloomberg / February 17, 2012) By Henry ...

Los Angeles Times

Eurozone seals 2nd Greek bailout after tortuous talks
Reuters
After 13 hours of talks, euro zone officials said ministers had finalised measures to cut Greece's debt to 120.5 percent of gross domestic product by 2020, a fraction above their original target of 120, after negotiators for private bondholders ...

Exclusive: Greek debt load may get heavier, euro zone study says
Reuters
"The results point to a need for additional debt relief from the official or private sectors to bring the debt trajectory down," said the report, which is being discussed by euro zone finance ministers at a meeting in Brussels on Monday to decide on a ...

Eurozone ministers back 130bn-euro bailout for Greece
BBC News
Eurozone finance ministers have agreed a second bailout for Greece after marathon talks in Brussels. Greece will get loans of more than 130bn euros (£110bn; $170bn) and have about 107bn of its debt written off. In return, it must slash its debt from ...

BBC News

Is eurozone out of danger after Greece rescue?
Economic Times
BRUSSELS: After months of dispute and delay, Europe's historic rescue of Greece on Tuesday spawned instant relief across the troubled eurozone, though analysts warned the debt crisis seemed far from over. The 237-billion-euro rescue, the biggest in ...

Euro Rallies From Early Losses
Wall Street Journal
By WILLIAM L. WATTS The euro recovered from early losses in the wake of a euro-zoneagreement to approve a long-awaited bailout for Greece. In afternoon trade, the euro was at $1.3249 from $1.3242 late Monday. The dollar was at ¥79.69 from ¥79.63 and ...

Greek Deal Greeted With Relief Outside Euro Zone But Risks Remain
Wall Street Journal
By Riva Froymovich and Frances Robinson BRUSSELS (Dow Jones)--A EUR130 billion rescue package for Greece agreed early Tuesday has demonstrated that euro-zone governments are prepared to stand behind their currency, finance officials from European Union ...

Greeks will suffer for five years as part of resolving eurozone crisis
The Guardian
Greeks will suffer austerity measures for another five years as the price of their government securing a €130bn (£109bn) bailout to prevent national bankruptcy and chaos within the eurozone, it has emerged. The scale of the wage and spending cuts ...

The Guardian

European Stocks Fall
Wall Street Journal
By ISHAQ SIDDIQI European stock markets finished lower Tuesday, as investors focused on Greece's underlying debt problems despite euro-zone finance ministers finally approving the terms of a bailout package for the country.

Eurozone 'seals Greek bailout deal'
Sky News Australia
Eurozone 'seals Greek bailout deal' Updated: 04:18, Wednesday February 22, 2012 Eurozonefinance ministers have sealed a deal for a massive new bailout of Greece, including a major write-down of privately held Greek sovereign debt, an EU official says.

Eurozone Ministers Approve Greek Bailout Deal
Voice of America
February 20, 2012 Eurozone Ministers Approve Greek Bailout Deal Lisa Bryant | Paris After talks that lasted through the night, eurozone finance ministers finally struck a $172 billion bailout agreement for Greece early Tuesday.

Highlights: Euro zone ministers, officials after Greek deal
Reuters
BRUSSELS (Reuters) - Euro zone finance ministers and representatives of the private sector finalized a deal on Tuesday that will provide 130 billion euros of new financing to Greece and help to cut Athens' debt-to-GDP ratio to just over 120 percent by ...

IMF Welcomes New Eurozone Understanding on Greece « iMFdirect ...
By iMFdirect
“I also welcome today's discussion on ensuring the adequacy of the European Financial Stability Facility (EFSF) and European Stability Mechanism (ESM), which will help bolster the firewall against financial contagion, catalyze efforts to ...
iMFdirect - The IMF Blog

Eurozone opts to keep Greece under umbrella | The Raw Story
By Agence France-Presse
Europe opted on Tuesday to keep Greece in the eurozone, agreeing a huge financial lifeline worth 237 billion euros but demandingAthens meet a long list of conditions first. The decision, reached after a marathon 13 hours of negotiations with ...
The Raw Story

Late-learner Latvia plans to join eurozone amid crisis — RT
By RT
Latvia is willing to pay its share in any future bailouts of indebted euro nations, maintaining plans to join the monetary union by 2014. Euroskeptics say the step would be nothing short of economic suicide for Riga.
News RSS : Today

Eurozone approves new $173B bailout for Greece – This Just In ...
By hollyyan
Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including €130 billion ($173 billion) in new financing. The finance ministers from the 17 nations that use the euro, known as the Eurogroup, gave ...
This Just In

Eurozone seals second Greek bailout worth 130 bn euros - World ...
Euro zone finance ministers approved on Tuesday a second bailout for debt-laden Greece that will resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.
IBN Top Headlines

Eurozone ministers back 130bn-euro bailout for Greece | Ya Libnan ...
By syh
Filed Under Euro, Greece. Eurozone finance ministers have agreed a second bailout for Greece after marathon talks in Brussels. Greece will get loans of more than 130bn euros (£110bn; $170bn) and have about 107bn of its debt written off.
Ya Libnan

Euro Zone Strikes Deal On 2nd Greek Bailout Package
By The Huffington Post News Editors
Euro zone finance ministers struck a deal early on Tuesday for a second bailout program for Greece that includes new financing of 130 billion euros and aims to cut Greece's debt to 121 percent of GDP by 2020, two EU officials said.
The Huffington Post | Full News Feed

Eurozone opts to keep Greece under umbrella - BlackListedNews.com
The Best in Uncensored News Information and Analysis.
BlackListedNews.com

Fuel Fix » Eurozone agrees second Greek bail-out
By FT.com - Energy
Tweet. Share share E-mail. Following 14 hours of talks, finance ministers reach a deal after strong-arming private holders of bonds to take even deeper losses. Read more from Financial Times · Tweet. Share share E-mail. « Previous Post ...
Fuel Fix

Greece, Eurozone Reach Bailout Agreement | Benzinga
By Lear Yann
Greece, Eurozone Reach Bailout Agreement. By Lear Yann Benzinga Staff Writer February 21, 2012 12:46 AM. Symbols: VGK. Tags: International Monetary Fund, European Central Bank. Posted in: News, Bonds, Politics, Psychology, Topics, ...
Benzinga - Stock Market Quotes,...

Student Loans and the Financial Crisis - Global Economic Crisis Issue
By admin
With the financial crisis nowhere in sight to get better would eventually hurt or jeopardize how you can borrow money for your education. Student loans from some sectors would feel the effects of this global financial crisis. With the ongoing ...
Global Economic Crisis Issue

Greece and the Eurozone
By Henning Meyer
Greece and the Eurozone. 21/02/2012 By Henning Meyer 4 Comments. I was interviewed by BBC Newsnight yesterday about – you guessed it – the Eurozone crisis. Here is what I had to say. More on the tripple crisis of the Eurozone soon in ...
Social Europe Journal

Euro zone auctions today | ForexLive
Spain to re-open 3-month Letra maturing May 18 and 6 month maturing August 24 Indicative size is 1.5-2.5 bln. (expected to go well) Results due around.
ForexLive

Eurozone seals second Greek bailout after tortuous talks - Business ...
Euro zone finance ministers sealed a second bailout for debt-laden Greece on Tuesday that will resolve its immediate financing needs but seems unlikely to ...
www.msnbc.msn.com/.../eurozone-seals-second-greek-bailout-...

.GIPSI Quote - PIIGS Index - Bloomberg
Index performance for Piigs (.GIPSI) including value, chart, profile & other market data.
www.bloomberg.com/quote/.GIPSI:IND

US Futures - Futures Slip After Euro Zone Downgrades - US ...
U.S. stock index futures edged lower Tuesday after a weaker-than-expected retail sales report and following Moody's ratings downgrade of a handful of euro ...
www.cnbc.com/.../Futures_Slip_After_Euro_Zone_Downgrad...

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