Greece

Greece raised €1.95 billion ($2.53 billion) in a debt auction Tuesday, passing its second market test in a week ahead of a key fiscal checkup by the European Union and International Monetary Fund, the Associated Press reported. The sale came a week after ...

Daily Headline - global.abi.org - 07/21/2010 - 08:59 - 0 comments

Three subsidiaries of struggling Greek telecommunications company Wind Hellas have shifted their addresses and principal place of business to London from Luxembourg, in a move that could aid a potential debt restructuring, the company said Tuesday, Dow J ...

Daily Headline - global.abi.org - 07/14/2010 - 08:17 - 0 comments

Greece on Thursday sealed a deal with the European Investment Bank for €2 billion ($2.45 billion) in financing to turn around the country's contracting economy, as the ruling Socialist Party implemented tax increases to help slash budget deficits, ...

Daily Headline - global.abi.org - 07/02/2010 - 09:28 - 0 comments

Greek telecommunications company Wind Hellas Thursday said it has begun a strategic review, which includes the potential sale of the business and the appointment of a chief restructuring officer, as the company's performance continues to suffer in t ...

Daily Headline - global.abi.org - 07/02/2010 - 09:27 - 0 comments

Wind Hellas Telecommunications SA, the Greek mobile phone operator that restructured its debt last year, will miss 40.5 million euros ($50 million) of debt payments due in the next two weeks, according to Naguib Sawiris, its Egyptian billionaire owner. G ...

Daily Headline - global.abi.org - 06/30/2010 - 08:03 - 0 comments

The heavily indebted Greek government has adopted the International Monetary Fund's recommendation to raise some of the €320 billion ($390 billion) it owes foreign lenders through privatization. And that has transformed central Athens into a stage f ...

Daily Headline - global.abi.org - 06/30/2010 - 08:02 - 0 comments

It is time to recognise that Greece is not just suffering from a liquidity crisis; it is facing an insolvency crisis too, the Financial Times reported in a commentary. Rating agencies have started to downgrade its public debt to junk level, while spr ...

Daily Headline - global.abi.org - 06/29/2010 - 07:56 - 0 comments

Public services in Greece ground to a halt and transport was disrupted on Tuesday as thousands of workers joined a general strike, the fifth this year, to protest deeply unpopular spending cuts that the debt-ridden government has promised its internation ...

Daily Headline - global.abi.org - 07/29/2010 - 09:18 - 0 comments

There's little that shouts "seriously rich" as much as a little island in the sun to call your own. For Sir Richard Branson it is Neckar in the Caribbean, the billionaire Barclay brothers prefer Brecqhou in the Channel Islands, while Arist ...

Daily Headline - global.abi.org - 06/25/2010 - 08:15 - 0 comments

French bank Credit Agricole SA's Emporiki Bank of Greece SA unit said Tuesday that it now expects to return to profit in 2012—instead of its previously forecast 2011—because of rising loan losses, The Wall Street Journal reported. The bank said ...

Daily Headline - global.abi.org - 06/22/2010 - 09:19 - 0 comments