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Greece Invites Bids for Assets

1 Mar

      ATHENS—Greece Wednesday invited bids for state-owned gas company DEPA and natural-gas grid operator DESFA, moving ahead with a long-awaited privatization program aimed at raising €19 billion by 2015 to aid in addressing its huge debt crisis. (more…)

Greece cuts minimum wage as austerity drive begins

1 Mar

      ATHENS (Reuters) – Greece approved bitter new austerity measures on Tuesday, slashing the minimum wage and chopping pensions as Athens began implementing measures demanded by international lenders in return for a 130 billion euro (111 billion pound) rescue package. With creditors pressing for swift action, the cabinet approved the cuts to the […]

Grèce: réunion secrète entre banquiers

1 Mar

      Un groupe secret de représentants de 15 grandes banques, fonds d’investissements et fonds spéculatifs se réunit aujourd’hui pour décider si la restructuration de la dette de la Grèce doit déclencher des versements pour les détenteurs de titres dérivés CDS, qui joue le rôle d’assurance en cas de défaut de paiement, rapporte le […]

If Greece isn’t a ‘credit event,’ what is?

29 Feb

        The fact that Greece is not officially regarded as defaulting is ridiculous – and how anyone can say the 70% net debt “haircut” for the private sector is truly voluntary simply beggars belief. But now that Standard and Poor’s has downgraded Greece’s credit to “selective default,” that part of the fig […]

Greece must take charge and change: EU’s Hahn

29 Feb

      (Reuters) – EU donors and international companies face huge obstacles in making investment in Greece work, even if billions of euros flow back to the stricken economy, one of the EU’s top economic official said on Wednesday. The European Union aims to invest 20 billion euros in Greece by 2013 and a […]

Europe is Pouring Money Into a Bottomless Barrel

28 Feb

      A German minister has broken with the official government line by saying Greece should be encouraged to quit the euro. The comment, made to SPIEGEL, comes ahead of Monday’s parliamentary vote on the second bailout. Some newspapers, including the tabloid Bild, agree that it’s time for Greece to leave. (more…)

German Minister Calls for Greek Euro Exit

28 Feb

    German Interior Minister Hans-Peter Friedrich has said that Greece would have better chances of economic recovery if it left the euro zone. He told SPIEGEL that Athens should be offered a deal it couldn’t refuse, in order to encourage it to quit the currency union. (more…)

Bigger Debt Cut for Greece Would Set Bad Example

28 Feb

  In a SPIEGEL interview, Jens Weidmann, president of Germany’s central bank, discusses Greece’s reform efforts and the second EU/IMF bailout for the country. He argues against sweeping debt relief for Athens, saying that other crisis-stricken euro-zone members might see it as an easy way out of their problems. (more…)

Europe’s Banks Are Addicted to ECB’s Cheap Money

28 Feb

  The European Central Bank will give European banks another massive round of loans at bargain-basement rates on Tuesday, with financial institutions expected to borrow up to one trillion euros. The ECB is playing down the risks of providing so much cheap money, but critics say that banks have become too dependent on the flow […]

Il y a de l’incertitude en Allemagne vis-à-vis de l’évolution future de la Grèce

28 Feb

      La politique de l’Allemagne vis-à-vis de la Grèce est difficile à décrypter. D’un côté, elle la soutient, de l’autre, elle rechigne à l’aider financièrement. Comment expliquer cette ambiguïté ?> (more…)