The $6.6 billion bailout of Portugal’s largest bank poses a warning on exposure to “fragile” emerging markets, analysts have cautioned.» Read More
And their one main victim: You.
It was pretty wild out there. But instead of chalking this up as simply panic in the market, we should see it as a huge wake up call. All is not well.
As the market dropped our team was watching. A car wreck is a much too pleasant analogy. I was at my desk in 1987, 1989, 9/11, 2008, and I’ve never witnessed what I witnessed yesterday.
For the market to plunge 1000 or so points and then rebound a good bit of the way back is rattling.
Panic has gripped stock markets worldwide over the Greek debt crisis and the threat of a debt-deflation contagion through banks in Europe (primarily) and the U.S. that own the bonds of Greece, Portugal, Spain, and so forth. If these bond asset prices collapse totally, lending facilities would be badly crimped for both the short and long term.
A mood of resignation pervaded the crowd outside the Greek parliament building on Thursday, after lawmakers passed far-reaching three-year budget cuts to deal with Greece’s teetering economy.
Lazard has been hired to assist Greece with its finances. The speculation is Lazard has been hired to assist Greece with a restructuring of its debt. That, of course, has been denied. These guys always deny, deny, deny until it's done.
Once passed, the bill will be signed into law and then presented to the Euro Zone meeting on Friday night. There is likely to be a constitutional challenge to the agreement, but this will not impede the flow of money to Greece.
He thinks they’re close. Read on for his two favorites in the group.
The U.S. economic recovery "will be hampered" by the continuing European debt crisis, chief economist John Silva of Wells Fargo told CNBC Wednesday.
Investments in debt-stricken Europe are “undervalued,” “unloved” and “now oversold,” Barton Biggs, the managing partner at Traxis Partners hedge fund, told CNBC Wednesday.
The ink was barely dry on the $150 billion EU/IMF bailout of Greece when world stock markets tanked on two major fears.
Last Friday, I stated that the vote this week on Friday in Germany was analogous to what occurred in the US Congress leading up to the TARP vote. The uncertainty would drive down the Euro and raise questions over the viability of the union. Now, we’re seeing another aspect arise: attempting to scare the German politicians into voting yes.
The market is already beginning to ask if the German public and the EU have the stomach for a rescue package for Portugal, Spain, Ireland and even for Italy.
Despite the agreement over the weekend to aid Greece, stocks are down sharply again today on similar fears as other nations, especially Portugal and Spain, are also facing severe debt issues. The whole situation also brings into question the strength of the euro currency.
Huge moves up in the yield of Greek paper and a growing concern about other EU members and their ability to grow out of large budget deficits has investors thinking twice.
Financial regulations could significantly influence UBS' profitability in both the near and long term and they will constrain the Swiss bank from resuming dividend payments, CFO John Cryan told CNBC Tuesday.
For now, Greece has been saved but at what cost? The sums involved are staggering and could have been much lower if the euro zone's governments had appreciated the size and scale of the problem earlier and learned the lessons of history.
Despite yields on Greek debt falling after the bailout deal, analysts and investors warn that there are still pitfalls that could threaten the single European currency.
Greece announced Sunday a long-delayed rescue package that will require years of painful fiscal belt-tightening, but the deal probably will not defuse the potential threats to other European countries, The New York Times reports.