Greece's purported deal with its creditors will only last until a new government takes over following the spring elections, hedge fund manager Dennis Gartman said Tuesday.
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.
Japan’s trade deficit surged to a record high in January underscoring the grim outlook for the world’s third largest economy. However, equity strategists believe the weak economic data will compel the Bank of Japan to further expand its asset purchase program, offering a boost to the country’s undervalued stocks.
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.
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.
Yet another week has gone by without a final resolution of the terms of Greece’s second bailout deal within two years.
If the World Bank is correct, 2012 will see the second slowest year of global economic growth in a decade, at a level consistent with a world recession that, like the 2008/2009 financial crisis, would not spare Asia.
"We are facing destruction. Our country, our home, has become ripe for burning, the center of Athens is in flames. We cannot allow populism to burn our country down," one lawmaker told parliament as protesters took their rage to the streets.
After appearing to be resolved, Greece's bailout is unraveling again. Renewed fears of a Greek default sparked a broad selloff in financial markets Friday.
For all the struggles that Greece has gone through to satisfy its demanding lenders, Europe’s troubles are not going away, the New York Times reports.
Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but euro zone finance ministers demanded more measures and a parliamentary seal of approval before providing the aid.
Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.
The euro is rallying on fresh hopes that Greek politicians can agree to austerity measures that could secure them a much-needed second bailout from their euro zone peers.
Greece’s leaders and representatives of the troika responsible for its bailout failed yet again to reach agreement on the terms of a second bailout by Tuesday morning leaving European markets facing another day’s uncertainty over the Mediterranean country.
The situation in Greece went seriously weird this morning, when European Union officials and Greek officials couldn’t seem to agree whether Greece had missed a deadline to agree to austerity measures required to secure another rescue package.
Down to the wire again in Greece, and the dollar looks like a refuge - it's time for your FX Fix.
There have been almost as many new acronyms slipping into business news as there have been euro zone summits in recent months.
Crisis talks on a debt deal for Greece among the three leaders of parties supporting the coalition government were suspended and will continue Monday.
Euro zone and U.S. growth rates will probably diverge this year, with the euro zone contracting while U.S. growth accelerates, but U.S growth will be similar to that in the euro zone next year, Legal & General Investment Management said in a new report.
U.S. markets lose early gains after a surprise drop in consumer confidence. Homebuilders are down today after home prices fall again. RadioShack shares plunge after the company severely lowers its Q4 forecast. And the bull run in gold appears to remain intact.