Archive for April, 2010

Greece Faces Unprecedented Cuts as $159 Billion Rescue Nears

April 30th, 2010 at 11:27pm Under Greek News

May 1 (Bloomberg) — Greek Finance Minister George Papaconstantinou said Greece faces unprecedented budget cuts as the euro region and International Monetary Fund near approval of a 120 billion-euro ($159 billion) bailout for the debt- stricken nation.

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Tame inflation reading, Greece keep bonds strong

April 30th, 2010 at 09:57pm Under Greek News

A tame reading on inflation and more wrangling over Greece’s debt crisis kept demand for Treasurys strong.

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World markets down ahead of expected Greece deal

April 30th, 2010 at 04:12pm Under Greek News

World stock markets eased Friday despite strong U.S. economic growth data as investors warily awaited the completion of a support package to keep Greece from defaulting on its debts.

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World markets down ahead of expected Greece deal

April 30th, 2010 at 03:00pm Under Greek News

World stock markets fell Friday despite strong U.S. economic growth data as investors warily awaited the completion of a support package to keep Greece from defaulting on its debts.

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Greece’s survival at stake, prime minister warns

April 30th, 2010 at 02:49pm Under Greek News

Greece is fighting for survival, Prime Minister George Papandreou said Friday as his debt-stricken government grappled with international demands for big spending cuts in return for a rescue package.

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Bad news for Goldman and Greece, good for bonds

April 30th, 2010 at 02:42pm Under Greek News

Treasury prices rose Friday, as investor worries grew about Greece’s aid package and a credit rating agency downgraded Goldman Sachs stock.

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World markets wait on expected weekend Greece deal

April 30th, 2010 at 02:06pm Under Greek News

World stock markets fell Friday despite strong U.S. economic growth data as investors warily awaited the completion of a support package to keep Greece from defaulting on its debts.

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Dow opens up on eased Greece woes, GDP

April 30th, 2010 at 01:53pm Under Greek News

The Dow industrials opened higher on Friday as worries over debt-laden Greece eased and data showed the U.S. economy grew in the first quarter, although at a slightly slower-than-expected pace.

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Rescue Plan for Greece Could Be Reached by Saturday

April 30th, 2010 at 01:01pm Under Greek News

The end is in sight, a spokesman for the European Commission said on Friday about a loan package for Greece.

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European Shares Mixed; Focus Remains Greece

April 30th, 2010 at 12:35pm Under Greek News

While most investors expect a bailout package for Greece to be agreed by the weekend, they remain reluctant to get too euphoric, given the previous delays in the process.

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