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European Debt Crisis

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IMF: Don't See Any New Official Sector Greek Debt Restructuring Now

Potential negotiations to restructure European holdings of Greek government debt won't come until after details about Athens's 2013-2014 budget are known, an International Monetary Fund spokesman said Thursday.Euro-zone officials have said they are open to cutting the value of Greece's debt if Athens lives up to its vows for more budget cuts, higher revenues and a restructuring of the country's broken economy as part of a massive joint European-IMF bailout."Our projections show that further debt relief will be needed for Europe to meet its commitment to reduce Greek debt significantly to the program level," IMF spokesman Gerry Rice said.The joint bailout program targets cutting Greek debt to 124% of gross domestic product by 2020 and "substantially below" 110% by 2022. Euro-zone officials said they expect to review debt restructuring by the beginning of 2014."We don't envision any new [debt restructuring] discussions at this juncture," Mr. Rice said.He also said that there's no talk of...

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  1. Credit Agricole First-Quarter Profit Jumps After Greek Exit

    Credit Agricole SA (ACA.FR) Tuesday said first-quarter net profit jumped 51%, as the French bank draws a line under its disastrous foray into Greece, and slims down ...

  2. EU sees deeper euro zone recession in 2013, slower deficit cuts

    The euro zone economy will contract by more than expected this year and budget deficits will decline more slowly, the European Commission said on Friday as it set ou...

  3. Riskier European Bank Debt Beckons as Bond Sales Tumble

    Investors in bank bonds, facing dwindling options for buying new European debt and under pressure to boost returns, are warming to riskier types of bonds that regula...

  4. Europe Bond Market Busy as Borrowers Tap Investors' Hunt for Yield

    Deals keep coming in the European primary bond market Tuesday as borrowers continue to take advantage of investors' search for yield, while the cost of insuring Euro...

  5. Insight: Why did Cypriot banks keep buying Greek bonds?

    One day last October, a memory stick containing special software for deleting data was placed into a desktop computer at Bank of Cyprus.Within minutes, 28,000 files ...

  6. Austerity Roiling European Economics and Politics

    Europe is seeking a balance between austerity and growth that is thin as a razor and about as easy to traverse.Since the onset of the European debt crisis several ye...

  7. Sell in May and Go Away — No Way!

    You've probably heard the old adage: "Sell in May and go away." It's a nice little rhyme, and it does have a basis in the market's seasonal patterns. Historically, t...

  8. More Stimulus to Kick In Before Japanese Election

    Japan's economy is about to get another boost from an infusion of government spending, as Prime Minister Shinzo Abe's government aims to maintain financial--and poli...

  9. Insurers, long squeezed by low rates, now brace for a rise

    Insurance companies are still very concerned about low interest rates pinching their investment profits. But for the first time in years, their second biggest concer...

  10. Pimco Cuts Spain, Italy Government Bond Holdings

    Pacific Investment Management Co., home to the world's biggest bond fund, is cutting holdings of Italian and Spanish government bonds amid a sharp rally in the two m...

  11. Canon, Nintendo find solace in Abenomics as weaker yen boosts outlook

    Super Mario creator Nintendo Co Ltd forecast a return to the black after two years of losses and camera maker Canon Inc raised its profit forecast by nearly 10 perce...

  12. Buba's Dombret Sees Gradual German Economic Growth This Year

    Andreas Dombret, an executive board member of Germany's Bundesbank, said Wednesday he expects gradual but positive growth for Germany this year.He added that provide...

  1. European Utilities' CEOs Slam Lawmakers Over Energy Policy

    The chief executives of eight leading energy utilities Tuesday slammed the European Union's political leaders for the continent's fragmented energy policy and sought...

  2. European Credit Market Holds Steady; EFSF Sells 10-Year Bonds

    A spare smattering of new bonds were sold in Europe on Wednesday as credit markets spent the session hovering near unchanged.A quasi-sovereign borrower, a bank, and ...

  3. Charles Schwab April Trading Volume Falls From March

    Charles Schwab Corp.'s (SCHW) daily trading volume fell 3% in April from March but climbed 2% from the year-ago period.Like its peers, Schwab has been grappling with...

  4. Spain Pulls in Hefty Demand for New 10-Year Bonds

    Spain pulled in massive demand for the sale of new 10-year government bonds Tuesday, as investors continued to look to the euro zone's riskier markets in the hunt fo...

  5. Is 'Big Deal on Twitter' Resume Gold?

    Tweets of the week: When is the right time to celebrate progress? And some good news for professionals “in it” for more than the money: here are some of the LOL-inducing, insightful and character-limited words of wisdom that helped me run my business this week.

  6. Weak Yen Offers a Chance to Sell Australian Dollar

    It finally happened. The Aussie dollar failed to rebound versus the U.S. dollar Thursday to break below the US$1.00 parity level, thereby fulfilling the wishes of a ...

  7. ArcelorMittal: Infrastructure Program To Raise Brazil Steel Demand

    ArcelorMittal: Brazil per-capita steel consumption to rise on infrastructure plan-ArcelorMittal Brasil CEO sees weaker Brazilian real "inevitable" in coming years-Ar...

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