Ho hum, the markets say: another day, another episode in the Greek debt crisis
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To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Possible third junk rating for Greek debt isn’t a surprise but hits euro anyway
The euro fell yesterday to $1.3070 on news that Fitch Ratings has put Greek debt on review for possible downgrade to junk bond status.
Hot air won’t support the euro
An expression of confidence in Ireland from European finance ministers instead of an announcement of a concrete bailout for Ireland and its troubled banks is going to leave the euro vulnerable for a fall November 17. And to make matters worse, November 16, ended with a rather public airing of squabbles inside the monetary union.
Will Ireland take a bailout deal before Greece implodes?
Why is the European Union so anxious to get an Irish deal done?Look to today’s news that the Greek budget is in worse shape than anyone thought—again. Revised numbers show that Greece’s 2009 deficit wasn’t 13.6% but actually 15.4% of GDP.
A year later and we still don’t know how much Greece owes
Four months after a $140 billion bailout “solved” the Greek crisis the European Union still doesn’t trust Greek accounting. A team from Eurostat, the European Union’s statistics watchdog, is headed to Greece to put together it calls a “solid estimate” of total Greek debt. Better late than never, I guess.
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