Europe
Forex traders shrug as Greece bailout has come and gone
The euro zone crisis has been the leading headline for more months than I care to count, but now that the second round of Greek bailouts is officially underway, the world can now return to business as usual, right? If it was only that simple.
Bailout secured, Greece gets rating cut
A day after euro zone finance ministers agreed to a $170 billion bailout for Greece and private debt holders agreed to take at least a 53.5% loss on Greek bonds, Fitch has downgraded the country’s sovereign debt rating to “C” from “CCC.” The ratings agency explained that default is “highly likely in the near term.”
Greek bailout a sham?
Euro zone finance ministers have agreed to a $170 billion bailout for Greece following 13 hours of late night negotiations in Brussels. Athens has in turn pledged to reduce its debt to 120.5% of its GDP by 2020 and to accept “enhanced and permanent” EU monitoring of its economic reforms.
Euro crisis takes a big bite out of Gol’s transatlantic flights
Major Brazilian airline Gol (GOL, quote) saw a rebound in domestic demand at the end of 2011, but transatlantic flights fared poorly.
Oil hits eight month high after Greece talks, Iran moves, & China easing
Crude oil prices briefly hit over $121 a barrel in trading today as Iran halted exports to Britain and France ahead of an EU embargo, alongside optimism over the outcome of today’s euro zone meeting of finance ministers that many now expect will grant Greece its vital second bailout package.
Investing in emerging markets is investing with Warren Buffett
The fundamental basis of investing is the time value of money, and the investment that returns the most money in the shortest period of time will always be the favorite. That is why investing in emerging markets should form the foundation for all portfolios.
Euro zone ministers meet in Brussels, Greek bailout deal in sight
A bailout deal for Greece appears set as euro zone ministers meet in Brussels today to finalize a $170 billion package, according to French Finance Minister Francois Baroin. The news from Europe, as well as moves by China to stimulate its economy, boosted markets across Europe and Asia.
Emerging Markets Week Ahead: Is Optimism over a Greek Deal Just a Trojan Horse?
The wait may be over for a formalization of the 130-billion-euro aid package for Greece to avoid a default in March. Bloomberg reports on Saturday that the Greek government has found the additional cuts to bring spending down to $427 million, a requirement led by Germany as part of further aid.