About: default

Natalie Ann Jaresko is not part of the new cabinet [Georgi Gotev]
Economy & Jobs 21-08-2015

Ukraine anticipates default-saving debt deal

Ukraine is expecting the announcement today (21 August) of a crucial debt restructuring agreement that could save the pro-Western, but strife-torn country, from a devastating default.
Euro & Finance 07-07-2015

Greek ‘No’ vote backs Angela Merkel into a tight corner

The resounding "No" uttered by the Greeks on Sunday offers yet more proof of their rejection of the vicious cycle of austerity. Angela Merkel now finds herself trapped between the will of the Greek people and the inflexibility of her finance minister. La Tribune reports.
Euro & Finance 03-07-2015

EU declares Greece in default just before referendum

Greece was officially declared in default today (3 July), injecting even more urgency into a make-or-break weekend referendum that new polls suggest is too close to call.

Greece defaults on IMF loan, referendum hangs in doubt

Greece's last-minute overtures to international creditors for financial aid yesterday (30 June) were not enough to save it from becoming the first developed economy to default on a loan with the International Monetary Fund. The situation remains so uncertain that even the Sunday referendum, on whether to accept the aid, hangs in doubt.
Euro & Finance 30-06-2015

Greece to lose €16.3 billion at midnight

Assuming that there is no last-minute deal between Athens and its creditors, Greece will lose €16.3 billion of financing at midnight Washington time today (30 June), EU officials told the press in Brussels.
Euro & Finance 15-06-2015

Talks with Greece collapse as default looms

Default by debt-wracked Greece loomed dangerously closer after last-ditch talks between Athens and its EU-IMF creditors collapsed on Sunday (14 May), bringing the threat of a Greek exit from the euro closer than ever.
Euro & Finance 16-10-2012

Merkel rules out Greek default

Chancellor Angela Merkel has ruled out letting Greece default on its debt, in the latest sign Berlin is softening its stance towards Athens ahead of an eagerly awaited report on its reform progress from the "troika" of international lenders.
Greek soldiers Athens, undated.[Shutterstock]
Euro & Finance 09-03-2012

Greece secures debt swap and escapes default

Greece claimed a major success for its bond swap offer to private creditors today (9 March) after it won heavy acceptance for a deal that averts the immediate risk of an uncontrolled default on its massive public debt.
Euro & Finance 16-02-2012

Socialist MEP leader: Troika ‘locusts’ cannot save Greece

Socialist members of the European Parliament have set up an "alternative Troika" to find solutions for Greece beyond austerity measures, with their group leader going as far as likening the current task force to "locusts". The socialists' concerns about Greece were largely echoed by other political group leaders in the Assembly, EURACTIV France reports from Strasbourg.
Euro & Finance 09-02-2012

Greece to present incomplete bailout deal

Greek leaders failed yesterday (8 February) to agree on a reform and austerity programme, the price of a financial bailout to avoid a messy default, forcing Finance Minister Evangelos Venizelos to go to the country's financial backers with an incomplete deal.
Euro & Finance 07-11-2011

Berlusconi struggles to hold coalition together

Italian Prime Minister Silvio Berlusconi has one day left to win over party and coalition rebels threatening to bring down his government in a backlash over its failure to adopt reforms.
Euro & Finance 11-10-2011

Nobel prize winner: Europe needs a fiscal union

Two Americans were awarded the Nobel prize for economics yesterday  (10 October) and said they had no easy answers for the debt crisis plaguing Europe, but stressed a fiscal union can avoid the collapse of the euro.
Euro & Finance 05-10-2011

Moody’s slashed Italy credit rating

Moody's lowered its rating on Italy's bonds by three notches on Tuesday (4 October), saying it saw a "material increase" in funding risks for euro zone countries with high levels of debt and warning that further downgrades were possible.
Euro & Finance 21-09-2011

Greece pledges more austerity to avoid default

Greece pledged to bring forward painful austerity measures yesterday (20 September), convincing international lenders to return to Athens early next week for talks that it hopes will secure the aid it needs to avert bankruptcy.
Euro & Finance 15-09-2011

EU faces risk of credit crunch

European finance ministers have been warned confidentially of the danger of a renewed credit crunch, as a "systemic" crisis in eurozone sovereign debt spills over to banks.
Future EU 18-07-2011

Merkel draws red lines ahead of eurozone summit

As eurozone heads of state prepare for a summit on Thursday (21 July) to put together a second bailout package for debt-laden Greece, German Chancellor Angela Merkel said she wanted clear commitments from private investors that they would contribute to further funding.
Euro & Finance 13-07-2011

Euro zone enters new firefighting phase with Italy, Ireland

Ireland's debt has been downgraded to junk status by rating agency Moody's, which said the country was likely to need further rounds of financing before it could return to international capital markets. Meanwhile, Italy's borrowing costs soared to their highest level in more than a decade, sparking new doubts about the euro zone's ability to right itself.
Euro & Finance 29-06-2011

EU warns Greece rejecting austerity may lead to default

The European Union warned Greek lawmakers yesterday (28 June) that their country faced immediate default unless they approve a hated austerity plan, as strikers began new mass protests against the EU/IMF-imposed measures.
Euro & Finance 28-06-2011

EU officials mull ‘plan B’ for Greece

European Union officials are working on a contingency plan for Greece if its parliament rejects an austerity programme and the country cannot receive the next instalment of EU/IMF emergency loans, three eurozone sources said yesterday (27 June).
Euro & Finance 15-06-2011

Businessmen underline Greece’s moral bankruptcy

As Greece struggles to avoid default despite repeated attempts by George Papandreou's government to restructure the country's debt, business leaders and policymakers meeting in Athens last week voiced their concern about ineffective policies and political corruption. EURACTIV reports from Greece.
Euro & Finance 14-06-2011

Greece on brink of default after downgrade

Greece has become the lowest-rated country in the world, according to Standard & Poor's, which downgraded the country yesterday (13 June) and warned that any attempt to restructure its debt would be considered a default. The burning issue will be discussed at an emergency meeting of EU finance ministers on 14 June.
Trade & Society 28-04-2010

Spain calls 10 May summit over Greece

Eurozone leaders are discussing the possibility of holding a special summit in Brussels on 10 May to activate an aid package for Greece, a spokesman for the Spanish government said on 27 April.
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