The agreement by private sector holders of Greek government debt to take losses of 53.5 percent as part of the 130 billion euros ($172 billion) second bailout will actually see real losses of more than 70 percent, Charles Dallara, managing director of the Institute of International Finance told CNBC.
Stock index futures pointed to a rise in U.S. equities on Tuesday after euro zone finance ministers finally sealed a bailout for Greece. European shares steadied on Tuesday after hitting seven-month highs on Monday, with strategists saying the focus would now turn to the bleak outlook for Greece's economy after the country secured a bailout package.
It's 10.30 on a chilly winter's morning in central Madrid and retailer Emanuela Scena is opening up for business. But unlike the others, it doesn't take cash. It's part of a barter economy in goods and services that is gaining ground as the country tips into recession and already sky-high unemployment rates inch up.
The mood is growing surly in the south of Europe as austerity measures take hold. With unemployment at 20 percent in some countries – and youth unemployment as high as 50 percent – warnings are growing sharper about a troubling rise of populist feeling. The Christian Science Monitor reports.
The next year is likely to bring a period of tepid growth for businesses, and investors should stick to defensive plays even though they are not that sexy, Barry Dixon, head of research at Irish wealth management company Davy told CNBC.
Greece’s second bailout deal is expected to finally be sealed later Monday at a meeting of the Eurogroup of euro zone finance ministers, but the troubles of the heavily indebted Mediterranean country will stay on the markets' agenda, analysts believe.
We count down our five most popular videos from the past week, February 10 to February 17, 2012. You'll see Liz Kate Upton, Liz Ann Sonders, Jim Cramer, Jim Rogers, and a very bearish stock market chart.
European finance ministers are set to decide by Monday whether to give a new loans to Greece. But if you want to improve Greece’s debt-to-GDP ratio, don’t give them any more debt.
"Let Greece go bankrupt, let all the people who bankrupt go bankrupt, and then you can start over, you reorganize the assets and start over," Jim Rogers, CEO of Roger Holdings, told CNBC. "Until that happens, this is going to be an on-going endless discussion," he said.
Yet another week has gone by without a final resolution of the terms of Greece’s second bailout deal within two years.
Volkswagen and PSA Peugeot Citroën are looking at tapping a European Central Bank loan program designed to aid euro zone banks in a move that could help ease funding costs for the region’s carmakers, the Financial Times reports.
Stocks had their third best day of the year Thursday, and now traders are watching to see if the S&P 500 can retake its 2011 high.
The dollar is pushing higher and the euro is hovering around 1.30 amid mounting concerns over the Greek bailout package, with Andy Busch, BMO Capital Markets.
CNBC's Silvia Wadhwa has the story on Portugal's plans for a reform process.
Greece is being rewarded for failing to live up to its commitments and every time they fail to do so, they get more concessions out of the EU or private sector lenders, says Wilbur Ross, RL Ross & Co.
Discussing why investors should make room in their portfolios for Treasurys because of the liquidity out of the ECB, with Gina Sanchez, Roubini Global Economics and CNBC's Rick Santelli.
Although there are similarities with what the United States went through at the onset of the financial crisis, the issues in Europe are are more complex and will take years to resolve, Henry Paulson, former Treasury Secretary and founder of the Paulson Institute told CNBC on Wednesday.
Unlike Greece, Portugal is a debtor nation that has done everything that the European Union and the International Monetary Fund have asked it to, in exchange for the 78 billion euro (about $103 billion) bailout Lisbon received last May. The NYT reports.
The cancellation of Wednesday’s special meeting of euro zone finance ministers, which was planned to rubber-stamp Greece’s latest bailout deal, shows that other euro zone members are increasingly bargaining harder with Greece, economists told CNBC.
US Futures point to a higher open for Wall Street after a mixed trading session yesterday. European stocks rose on Wednesday following better-than-feared GDP figures for Germany and France, and as debt-stricken Greece appeared to be nearing a political consensus on painful budget cuts. In Asia markets rose on Greece while comments from China's central bank governor saying Beijing would continue to invest in euro zone government debt aided sentiment.