Greece has survived for nine months without access to the final 7.2 billion euro ($7.9 billion) tranche of its 240 billion euro bailout. But only by forcing ...
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How the world sees Greece
Thursday, June 4, 2015
Wall St ends up; financials gain with bond yields
U.S. stocks rose on Wednesday, helped by optimism that Greece was close to an agreement to avoid default and as further gains in bond yields lifted financials.
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| READ THE ORIGINAL POST AT www.business-standard.com |
Syriza MPs furious with creditors proposal, some call for rupture
Lawmakers from Syriza reacted with fury on Thursday to a package of reforms which creditors offered to the Greek Prime Minister Alexis Tsipras in return for cash. First Deputy Speaker Alexis Mitropoulos painted a picture of “absolute deadlock” in the negotiations, following Wednesday’s meeting ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
Tsipras, Merkel Hollande in nightly teleconference
Prime Minister Alexis Tsipras is to hold a teleconference with German chancellor Angela Merkel and French president Francois Hollande at 11:30 p.m. Athens time (2030 GMT), according to Greek media.
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| READ THE ORIGINAL POST AT en.enikos.gr |
FTSE LIVE: Footsie tumbles as European markets drop with Greek debt default seen just a day away
10.00: The Footsie took a tumble as the morning session progressed, tracking big falls by European markets as investors grow increasingly anxious over the prospect of Greece running out of cash, with the eurozone country facing more debt repayments tomorrow.
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| READ THE ORIGINAL POST AT www.dailymail.co.uk |
ATHEX: Stocks slide after rally on Wednesday
The Greek bourse reacted with disappointment on Thursday after investors’ hopes for a deal between Athens and its creditors, which spurred a mini-rally on Wednesday, once again failed to materialize, with some of the traders reaping capital gains.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Athens promises to complete most sell-offs
The privatization program presented by the Greek government to the country’s international creditors as part of ongoing talks between the two sides includes all of the projects previously agreed on – with the exception of the Elliniko development – as well as the preservation of state sell-off fund TAIPED in its original form.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Greek credit market is virtually dead due to the uncertainty
The credit market has been in a comatose state since March, when the disbursement of new loans started to nose-dive and demand for new loans plunged to historic lows.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Finance Ministry officials put Germany's WWII debt at 280 to 340 bln
Members of a special committee at the Finance Ministry’s General Accounting Office told the parliamentary inquiry into Germany’s unpaid reparations to Greece that Athens is owed between 280 and 340 billion euros by Berlin.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Costa Navarino eyes boost from sports events
The Costa Navarino resort in the southwestern Peloponnese is investing in the development of sports tourism by introducing annual events to attract both Greek and international visitors, enriching its thematic offerings in the process.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
STOCKS CRUSHED BEFORE THE JOBS REPORT: Here's what you need to know (SPY, DJI, IXIC, USO, WTI, OIL, VDE, AVP, UST)
Global bonds recovered from a sharp selloff overnight but US stocks continued sliding and saw their worst day this week. The selloff in stocks came ahead of Friday morning's big May jobs report in the US, the last one before the Federal Reserve's June policy meeting. First, the scoreboard: Dow: 17,905.58, -170.69, (-0.94%) S&P 500: 2,095.84, -18.23, (-0.86%) Nasdaq: 5,059.12, -40.11, (-0.79%) And now, the top stories on Thursday: There was chaos in global markets. German bund and treasury prices fell overnight, sending their yields above year-to-date highs that were crossed yesterday. The sell off paused during day trading, with the benchmark 10-year treasury note finishing near a session low of 2.30%. In a morning note before the open, Brean Capital's Peter Tchir wrote: "It is time to reduce US equity holdings for the near term and look for a 3% to 5% move lower. The Treasury weakness is NOT a 'risk on' trade it is a 'risk off' trade, where low yields are viewed as a risk asset and not a safe haven." And Tom di Galoma, head of fixed-income rates and credit at ED&F Man Capital Markets, told Bloomberg, "This is sheer panic in the market from the standpoint of what's been happening in Europe ... Most of Wall Street is guarded here as far as taking on new positions." The International Monetary Fund slashed US growth forecasts, and urged the Federal Reserve to delay its first interest rate hike until 2016, in a statement that crossed as the stock market opened. The IMF forecast that price or wage inflation is not likely to reach a level that warrants wage hikes until sometime in the first half of 2016. Greece got a new deadline on its €300 million-payment due to the IMF tomorrow. It has asked to bundle its four payments due this month into one lump sum it will pay in full at the end of the month. Greek newspaper Kathimerini reported the news, adding that the IMF is expected to approve the request. Greece owes a total of 1.5 billion euros. The SEC has sued PTG Capital and a Bulgarian trader over the bizarre buyout offer made to Avon last month. Avon's stock rocketed nearly 20% on May 14 after a filing on the SEC's Edgar website indicated that PTG Capital Partners was offering to buy Avon for $18.75 per share. Avon said it didn't receive any offer. The SEC alleges that PTG Capital used a fake notarized signature to apply for its Edgar login ID. It also claims Nedko Nedev, 37, profited unduly from the plunge through derivatives he owned. Crude oil prices fell more than 2% ahead of the June meeting of the Organisation of Petroleum Exporting Countries on Friday. West Texas Intermediate crude, the US benchmark, tanked to a one-week low of around $58.16 per barrel. The market doesn't expect the 12-member cartel to make any changes to production levels, which it has increased to fight for market share. Initial jobless claims fell to 276,000 last week, versus 278,000 expected. That was the 13th straight week of a reading below 200,000. The 4-week moving average of claims rose to 274,750, still near a 15-year low, and the prior week's average was revised upwards to 284,000. Shares of Bio-Reference Laboratories surged by up to 40% on news it's being acquired by Opko Health for $1.47 billion. Opko Health said it would pay 2.75 shares for each Bio-Reference Labs share, which comes to about $52.58 per share. Opko is interested in boosting sales of its 4Kscore test, a blood test used to establish a "personalized risk score" for prostate cancer. Deutsche Bank has the most bullish forecast we've seen for Friday's jobs report: +275,000, with the unemployment rate falling to 5.3% from 5.4%. The consensus, according to Bloomberg, is a 227,000 gain in nonfarm payrolls, and an unemployment rate of 5.4%. In a note to clients Thursday, chief US economist Joseph LaVorgna wrote, "the labor market inputs we use to project employment have strengthened meaningfully over the past month." He also cited the low reading on initial jobless claims in the survey week for the jobs report. We'll have full coverage in the morning. DON'T MISS: How everything will change when bonds enter a bear market »Join the conversation about this story » NOW WATCH: Here's how Floyd Mayweather spends his millions
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Greek unemployment stops declining
The Hellenic Statistical Authority (ELSTAT) announced on Thursday that the country’s unemployment rate in March was marginally lower than a year earlier, but also at the same level as in February 2015, according to the seasonally adjusted figures.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Athens, Skopje to work on improving trust
A Greek Foreign Ministry official will travel to Skopje in the next few days to discuss confidence-building measures with the government in the Former Yugoslav Republic of Macedonia (FYROM), Foreign Minister Nikos Kotzias revealed on Thursday.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Almost 2,500 migrants repatriated in May
A total of 2,469 migrants detained in Greece without proper travel documents were returned to their homelands in May, the Greek Police said Thursday.
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| READ THE ORIGINAL POST AT www.ekathimerini.com |
Greece's debt talks are falling apart
BRUSSELS (Reuters) - Greek Prime Minister Alexis Tsipras will not come to Brussels on Friday to continue talks with the country's creditors, an EU official said, complicating an agreement in the cash-for-reforms negotiations. Talks of international creditors with Greece on new funding have been dragging on for four months but have now entered a new, more urgent phase, as Athens is quickly running out of cash without which it may default and leave the euro zone. To speed up talks, Tsipras flew into Brussels on Wednesday evening to meet European Commission President Jean-Claude Juncker but the meeting ended without an agreement although some progress was made, Juncker said. More talks were to tale place on Friday evening, officials said. "There will be no meeting tomorrow. The Greeks last night agreed to send a compromise on how to solve the few outstanding issues. They did not. So tomorrow no meeting is possible," the official said. Greece was supposed to repay a 300 million euro an installment of loan from the International Monetary Fund on Friday, the first of four installments due in June, but told the IMF it would pay everything at the end of the month. "The bundling of payments is not a good sign, it will be difficult from here on," the EU official said. (Reporting By Jan Strupczewski)Join the conversation about this story » NOW WATCH: Here's what 'Game of Thrones' stars look like in real life
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Greek Talks Make Progress, But Key Divisions Remain
Greece and its creditors have agreed on some aspects of a deal to unlock urgent bailout aid, but differences remain on its soaring debt and the amount of fiscal pain the country will have to swallow.
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| READ THE ORIGINAL POST AT www.wsj.com |
Markets fall amid Greek anger over latest debt demands
Update: Markets nursed losses in afternoon trading, anxiously awaiting news on the Greek debt crisis, as details of the country's creditors' demands ...
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| READ THE ORIGINAL POST AT citywire.co.uk |
Wall St. falls ahead of payrolls report
NEW YORK (Reuters) - U.S. stocks fell on Thursday, hit by nervousness ahead of Friday's jobs report and lingering uncertainty over a Greece aid deal with creditors.
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| READ THE ORIGINAL POST AT feeds.reuters.com |
SOCAR Turkey plans to open huge Aegean container port in September
The Turkish branch of Azeri energy giant SOCAR will open the Petlim Container Port in the Aegean Sea this September to become an alternative to Greece’s Piraeus Port for container shipments
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| READ THE ORIGINAL POST AT www.hurriyetdailynews.com |
Merkel: Greece needs to make 'harsh reforms'
Greece needs to return to the path of tough economic reforms to secure its future in the eurozone, German Chancellor Angela Merkel said Thursday.
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As Greece Teeters, Fallout for Europe Uncertain
Most economists seem fairly certain a Greek departure from the euro would be a disaster indeed. For Greece. But for the rest of Europe? Some think a ...
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| READ THE ORIGINAL POST AT abcnews.go.com |
Greece would get hammered, but would Europe? Some say not so much
Greece's new left-wing government is struggling to convince its international creditors, which includes its eurozone partners and the International ...
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| READ THE ORIGINAL POST AT www.startribune.com |
Greece refuses to make €305m IMF payment in show of defiance
Greece will skip its €305m (£218m) payment to the International Monetary Fund (IMF) on Friday in a show of defiance as a deal between Athens and ...
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| READ THE ORIGINAL POST AT www.telegraph.co.uk |
Greece Keeps Its Creditors Guessing
With that throwaway line in the early hours of Thursday, Prime Minister Alexis Tsipras of Greece seemed to indicate that meeting a Friday deadline to ...
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| READ THE ORIGINAL POST AT www.nytimes.com |
An offer that Greece should not refuse
Greece should take the deal. The country's creditors have tabled what has all the appearances of a final offer. Alexis Tsipras's government should ...
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| READ THE ORIGINAL POST AT www.ft.com |
Greece delays 5 June IMF debt payment
Greece has told the International Monetary Fund it will delay Friday's €300m (£216m) debt repayment and bundle all four of its June payments ...
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| READ THE ORIGINAL POST AT www.bbc.com |
Greece misses a €300 million payment to the IMF and gets a new deadline
Alexis Tsipras REUTERS/Francois LenoirGreece's Prime Minister Alexis Tsipras addresses a news conference after an European Union leaders ...
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Jim Cramer: Can We All Just Stop Worrying About Greece?
NEW YORK (Real Money) -- Do we focus on Greece too much? Do the media overplay its importance? Are the 11 million people in this small country ...
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| READ THE ORIGINAL POST AT www.thestreet.com |
Greece delays €300m payment to IMF
Countries are only supposed to bundle up their debts if they face administrative problems from making multiple payments, but Greece's decision not to ...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Greece at loggerheads with creditor nations
High-ranking members of Greece's governing radical left Syriza party say they cannot accept a deal proposed by the country's creditors during a ...
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| READ THE ORIGINAL POST AT www.sltrib.com |
Lagarde confident Greece will make Friday payment
International Monetary Fund Managing Director Christine Lagarde said Thursday she has been assured by Greek's prime minister that the country will ...
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| READ THE ORIGINAL POST AT www.usatoday.com |
Greece Defers IMF Payment as Merkel Warns Crisis Far From Over
Greece became the first country to defer a payment to the International Monetary Fund since the 1980s as its game of brinkmanship with creditors ...
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| READ THE ORIGINAL POST AT www.bloomberg.com |
IMF: Greece to miss Friday's scheduled payment
ATHENS, Greece — The International Monetary Fund says Greece won't make a scheduled loan repayment on Friday. The debt-ridden European ...
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EU/IMF lenders demand asset sales, pension cuts in Greek proposal
In a five-page proposal presented to Greek Prime Alexis Tsipras in Brussels on Wednesday, EU/IMF lenders asked Athens to reduce spending on ...
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| READ THE ORIGINAL POST AT www.reuters.com |
Greek PM to meet EU officials
Greek Prime Minister Alexis Tsipras will meet again in the coming days with European Commission President Jean-Claude Juncker and Eurogroup President Jeroen Dijsselbloem to continue with the Greek debt talks, the European Commission said on Thursday.
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Greek crisis: Greece, EU to continue talks as debt payment looms
With over 300 million euros ($336 million) due to be repaid to the IMF on Friday, the radical left Greek government was under mounting pressure to ...
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| READ THE ORIGINAL POST AT economictimes.indiatimes.com |
Greek left vents fury at creditors as Tsipras nears deal
A Greek government official told reporters that Athens hoped to wrap up the talks by June 14, leaving just enough time for national parliaments in ...
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| READ THE ORIGINAL POST AT economictimes.indiatimes.com |
Greek unemployment rate stable at 25.6%
Despite the impact of the financial crisis, the Greek jobless rate was just slightly above 10% in 2010, when it was bailed out by international creditors, ...
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| READ THE ORIGINAL POST AT www.marketwatch.com |
Leftists vent fury over terms proposed for Greek debt deal
Leftists in Greek prime minister Alexis Tsipras's party vented fury on Thursday at terms proposed by Greece's creditors for a last-ditch deal to stave off ...
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| READ THE ORIGINAL POST AT www.irishtimes.com |
Greek debt negotiations waylaid by Syriza fears of conceding too much
Greece remains at loggerheads with creditors over key economic reforms after a meeting between Prime Minister Alexis Tsipras and the head of the ...
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| READ THE ORIGINAL POST AT www.cbc.ca |
Frustration in Athens over Greek debt talks
The new set of reforms creditors are listing for Greece in exchange for urgently needed cash could taste bitter to voters in Athens, after five years of ...
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| READ THE ORIGINAL POST AT www.euronews.com |
Greek opposition leader calls on PM Tsipras to avoid elections
"Elections today would be conducted in tough conditions, which would not be in the interest of the Greek people," Samaras, head of the conservative ...
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| READ THE ORIGINAL POST AT www.reuters.com |
Q&A: Greek pensions — deal or no deal
So how generous is the Greek pension plan? How does it compare to others in Europe? Until the crisis struck, Greece's pay-as-you-go state pension ...
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| READ THE ORIGINAL POST AT www.ft.com |
Greek debt talks rumble on
“I was sleeping three hours after having had a long and sportive discussion and negotiation with the Greek PM and the reason why I have to leave at ...
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| READ THE ORIGINAL POST AT www.euronews.com |
Canada Stocks Fall as Oil, Gold Decline Amid Greek Debt Talks
Canadian stocks fell, snapping a three-day advance, as crude and gold prices declined amid a standoff in Greek debt talks with a Friday deadline ...
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| READ THE ORIGINAL POST AT www.bloomberg.com |
Alexis Tsipras to convene inner circle after latest Greek debt talks fail
Greek prime minister Alexis Tsipras will convene his inner circle to plot the next move in the standoff with international creditors after another round of ...
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| READ THE ORIGINAL POST AT www.irishtimes.com |
IMF Chief Lagarde Signals Greek Debt Relief Still Necessary
WASHINGTON—International Monetary Fund chief Christine Lagarde signaled Thursday that debt relief would still be a necessary component of any ...
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| READ THE ORIGINAL POST AT www.wsj.com |
Stocks open lower as Greek deal elusive
Major market indexes are lower Thursday after a report from Organization for Economic Cooperation and Development gave the 2015 global economy ...
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| READ THE ORIGINAL POST AT www.usatoday.com |
FTSE 100 falls on Greek concerns but easyJet flies higher
But as hopes of a Greek agreement were once more dashed, with a €305m payment to the IMF due on Friday, European markets are on the slide with ...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Greek Drama Climax Proves Elusive
Greek Prime Minister Alexis Tsipras held talks over dinner with European Commission President Jean-Claude Juncker and Eurogroup Chairman ...
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| READ THE ORIGINAL POST AT www.rttnews.com |
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