debt restructuring

Marshall here. That was an impressive rally into the close in New York. Stocks ended up across the board. Yves Smith, who was off the grid today, asked “was there any news driving” the rally into the close or was it just tape painting.…

Greece’s chance of default in the next five years has soared to 98 percent. The day of reckoning is now close at hand.

The Greeks are starting to play hardball on their private sector debt swap warning the deal could crater if the 90 percent participation is not met. We think there are other reasons why it is trouble.

Postmortems of last month’s European Union summit meeting have now turned to why the Greek debt rescue failed to restore investor confidence in the country’s finances. Many reasons are advanced: the failure to communicate clearly; the…

Felix Zulauf spoke to Barron’s Alan Abelson about his thoughts on the European sovereign debt crisis now that Greece has received its second 100 billion euro bailout. Here I discuss what Abelson says about the conversation and why I think…

France and Germany have the greatest exposure to Greece and their banks are expected to be the one’s with the lion’s share of the losses in the voluntary debt exchange deal. Here is a chart from the BBC below, detailing the exposure to…

This step will calm markets – for how long is anybody’s guess. Nevertheless, the budget cuts that this deal requires must be rapid in order to try to calm markets by maintaining the fiction that Greece is not insolvent and that the…

This post is a prelude to a BBC interview on the sovereign debt crisis. I am not going to answer financial Armageddon questions about "what oif it all goes pear-shaped" here because to understand where things are headed you need to know how…

Now obviously, there are the issues of efficiency and fairness to think about. However, I want to look at this from a pure forecasting perspective. and stick to the tack I began in October 2010 with “Less Policy Advocacy and More Policy…

I want to take a look at the latest news concerning the Greek situation using the political framework I laid out earlier in the month.On the whole, things are proceeding pretty much as anticipated.