Trader Talk
- Spring Home Buying Season: Good, But Not Good Enough?
- Where’s the French?
- Do the Europeans Really Want a Deal With Greece?
- Draghi’s Kiss: Putting a Bow On the Greek Bailout
- Brinksmanship: Is the EU Negotiating With the Wrong Parties?
- An Escrow Deal for Greece, or Just a Private Sector Deal?
- Housing Stocks Hit New Highs—Too Much Optimism?
- Still No Certainty on Greece, but the Chinese Help
- Greek Debt Drama: Current Act Is Ending
- More Greek Deadlines Today and Tomorrow
TRADER TALK RSS FEED
MOST SHARED
- RBS Hurt by Greek Charges But Pays Bonuses
- China Internet Firm Qihoo Says Citron Allegations False
- T-Mobile USA Wants to Grow Again
- European Shares Rise; Natixis, RBS Up on Results
- Nissan to Recall 250,000 Cars Globally
- German February IFO Index Rises 4th Month in Row
- More Asset-Buying Depends on Economy: Bank of England
- Greek Writedown Hits Commerzbank Earnings
- Japan's Okada Says Yen Still Strong, Hopes it Weakens
- Herbalife Shares Gain on Obesity Play
- Wandering Through Toy Land
- Dell Is Done, But Don't Discount HP: Analysts
- Comcast Deal Could Spell Trouble for Netflix: Analyst
- Reading the Tea Leaves in RIM Shake-Up
- Sam Adams Brewer Crafts Beer for the Granddaddy of All Marathons
- Stocks to Give Up for Lent
- You Want Retail Customers? Give Them Deals: Analysts
- NJ Governor Chris Christie to Warren Buffett: 'Just Write a Check and Shut Up'
- 7 Undervalued IPO Stocks That Could Rebound in 2012
- Winners and Losers in Obama's Corporate Tax Plan
- More Asset-Buying Depends on Economy: BOE
- Greece Readies Debt Swap Under Bailout Deal
- Stocks Sputter as Investors Seek Next Catalyst
- RBS Hurt by Greek Charges But Pays Bonuses
- Nissan to Recall 250,000 Cars Globally
- T-Mobile USA Wants to Grow Again
- Greek Writedown Hits Commerzbank Earnings
- Chinese Court Says Apple Can Sell iPads in Shanghai
It's Crunch Time on Greece
Text Size 
CNBC Reporter
 |
Jorg Greuel | Getty Images Greece |
The euro dropped to the lows of the morning on headlines that Greek debt talks are likely to continue over the weekend.
Prime Minister Papademos, Finance Minister Venizelos, and Charles Dallara, head of the Institute of International Finance, are, we are assured, huddling as I write to come up with a deal.
The news is very fluid: Talk that creditors may agree to a coupon of around 4 percent, with varying maturities.
There's also talk of a "grace period" of about 10 years on the principal. Really. And they call this "voluntary."
The effect of all this: It seems the "real" haircut that will be agreed upon will be well north of 60 percent for creditors, not 50 percent.
The train is leaving the station. Greek officials have repeatedly said that the outlines of a deal must be approved today in order to be formalized at Monday's meeting of euro zone finance ministers. After that, it will take several weeks to get the paperwork done. The deadline is March 20, when a 14.5 billion euro ($18.5 billion) debt payment comes due. Greece, of course, does not have the money: It is dependent on the European Union/International Monetary Fund
![[cnbc explains]](http://media.cnbc.com/i/CNBC/Sections/News_And_Analysis/_News/_CNBC_EXPLAINS/_IMAGES/CNBC_explains_icon1.gif)
, which will not release money unless, among other things, there is a debt deal.
The euro [EUR=
Loading...
()
] is up 2 percent this week.
Elsewhere:
1) China slowdown: The HSBC China Manufacturing PMI for January came in at 48.8, essentially unchanged from December's 48.7. This is three straight months of below-50 ratings, indicating contraction.
2) General Electric [GE
Loading...
()
]: OK, not great. Down 2.3 percent pre-open on a penny beat, sales of $38 billion below consensus of $40 billion. The good news: GE Capital is clearly improving — management has signaled the division will announce a dividend later this year. Remember, GE hiked its dividend last month, to 17 cents — it now boasts a healthy 3.55 percent dividend yield.
3) Schlumberger [SLB
Loading...
()
] shares rise nearly 1 percent in pre-market trade after posting fourth earnings per share excluding items of $1.11, beating the Street’s $1.09 estimate. The company warned uncertainty remains regarding its 2012 outlook as Europe’s sovereign debt
crisis could pressure economic growth and oil demand forecasts. Late yesterday, Schlumberger's board voted to hike the company’s quarterly dividend by 10 percent to 27.5 cents a share.
_____________________________
Bookmark CNBC Data Pages:
_____________________________
Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani.
Questions? Comments?
- The economy is heating up but the Fed isn’t letting up. How do you play the fixed-income market?
- With its rich oil reserves and rampant corruption, Azerbaijan poses a dilemma for U.S. policy makers.
- Business owners should occasionally consider giving their work for free. Here are several reasons why.
- GOP Governor Chris Christie wants Warren Buffett to stop talking about higher taxes on the super-rich.
- There’s a shortage of hotel rooms in London for the Olympics, so many locals are renting out their opulent private homes.
- Boston Beer will be creating a special commemorative brew, the Samuel Adams Boston 26.2, to mark this year's Boston Marathon.
- Spring Home Buying Season: Good, But Not Good Enough?
- Where’s the French?
- Do the Europeans Really Want a Deal With Greece?
- Draghi’s Kiss: Putting a Bow On the Greek Bailout
- Brinksmanship: Is the EU Negotiating With the Wrong Parties?
- An Escrow Deal for Greece, or Just a Private Sector Deal?
- Housing Stocks Hit New Highs—Too Much Optimism?
- Still No Certainty on Greece, but the Chinese Help
- Greek Debt Drama: Current Act Is Ending
- More Greek Deadlines Today and Tomorrow
Data is a real-time snapshot *Data is delayed at least 15 minutes
