At a meeting of euro-area finance ministers in Brussels on Wednesday that lasted late into the night, officials struck a preliminary deal with Greece to ease the countrys debt burden, paving the way for a 10.3 billion-euro ($11.5 billion) aid payout. While finance ministers called it a breakthrough deal, Greece is still on shaky terms,…
Greek Prime Minister Alexis Tsipras arrives to welcome Cyprus’ President Nicos Anastasiades at the Maximos Mansion in Athens, Greece May 25, 2016. Reuters/Alkis Konstantinidis A deal agreed by euro zone finance ministers offers Greece some help to ease its debt payments with the prospect of longer-term restructuring of its debt mountain, stretching official loans out…
European stocks started the day in positive territory after Greece’s creditors signed up to long-delayed debt-relief measures for the Mediterranean country. In London, the FTSE 100 was recently 0.63% higher at 6,258.73, while on the mainland the Dax added 0.90% to 10,147.48 in Frankfurt and the Cac 40 gained. 61% to 4,458.67. Investors across the…
Greece’s creditors today have agreed to release the next tranche its rescue loans, amounting to EUR10.3 billion ($11.5 billion). After late-night talks in Brussels, the eurozone finance ministers and the International Momentary Fund came the deal that unlocks the aid and sets out how the country can get future debt relief. The funds will help…
Updated May 25, 2016 5:14 a.m. ET Global stocks extended a rally Wednesday as investors were encouraged by rising oil prices and the prospect of Greek debt relief. Bank shares led the Stoxx Europe 600 up 0.9% in morning trade, echoing gains in Japan and Hong Kong. Futures pointed to a 0.4% opening gain for…
Mr Tsakalotos said he was optimistic that the deal would help to return Greece to fiscal health. “It’s an important moment for Greece after so much time,” he said. “I think that there can be some ground for optimism that this can be the beginning of turning Greece’s vicious circle of recession, measures, recession, into…
Puerto Rico made Rep. Raul Labrador, but the fact he was born there, and called it home until he was 13 years old did not inspire him to help the island with its debt crisis. In his five years as a lawmaker, Labradors political capital has been so invested in his conservative constituents in Idaho,…
©Getty Graffiti in central Athens It has been a defining feature of the bailout of Greece by the eurozone and International Monetary Fund that the creditors have done the right thing years later than they should. Tuesdays meeting of the eurogroup of finance ministers has provided the chance for eurozone governments to address the questions…
NEW YORK (TheStreet) — Shares of Chesapeake Energy (CHK) are advancing 7.08% to $3.93 in early-afternoon trading on Tuesday after announcing that it has issued or agreed to issue roughly 5% of its outstanding shares in exchange for debt during the past week. The transaction is the second time this month that Chesapeake has swapped debt…
Five years after handing Greece the biggest sovereign-debt write-off in history, European policy makers have come full circle to the point they had all hoped to avoid: a real discussion on debt relief. Despite all the efforts to shrink Greeces debt since the start of the financial crisis, the countrys economy has shrunk at a…