Exclusive: ECB stops operations with some Greek banks

(Reuters) - The European Central Bank has stopped providing liquidity to some Greek banks as they have not been successfully recapitalized, the ECB said on Wednesday, confirming news earlier reported exclusively by Reuters.

More Greek Creditors Back Swap

By CHARLES FORELLE , NEKTARIA STAMOULI and MATINA STEVIS

The Wall Street Journal 

More than 75% of Greece's private-sector creditors have pledged to take part in Greece's €200 billion ($262.98 billion) debt swap, according to a Greek government official.

Greece Passes Key Debt Test

The Wall Street Journal

More Than 80% of Creditors Agree to Bond Swap, Clearing Way for Historic Default

By CHARLES FORELLE, STELIOS BOURAS and ALKMAN GRANITSAS

… conditions will have been met to trigger credit-default swaps…

… investors think Greece will still be unlikely to meet all its obligations after the restructuring…

Greek PM in Brussels for talks over second bailout

29 February 2012 Last updated at 08:38 GMT

Greek Prime Minister Lucas Papademos is visiting Brussels to seek final approval for the country's second bailout deal.

Despite Pact, Unease Lingers for Greece

Agreement Staves Off Immediate Concerns, but Many Problems Remain Even Under Best-Case Scenarios

The Wall Street Journal

… Implementation risks are very high in the case of Greece…

… Greece is being asked to cut its debt burden compared with the size of its economy at the same time it is pursuing an internal devaluation…

Europe seals new Greek bailout to avert default

(Reuters) - Euro zone finance ministers sealed a 130-billion-euro ($172 billion) bailout for Greece on Tuesday to avert a chaotic default in March after persuading private bondholders to take greater losses and Athens to commit to deep cuts.

Eurozone ministers back 130bn-euro bailout for Greece

BBC

21-2-2012

… Eurozone finance ministers have agreed a second bailout for Greece…

… today is a historic day for the Greek economy…

Germany Seeks to Avoid Two-Step Vote on Greek Aid

By Brian Parkin and James G. Neuger - Feb 17, 2012 10:11 AM GMT+0200

Bloomberg

… As long as Greece meets conditions for the aid, the finance ministers meeting in Brussels will probably approve the package…

Greece and the euro

From tragedy to farce

Feb 15th 2012, 15:27 by J.R.

The Economist

… The wrangling underscores how unlikely it has become that a successful Greek bail-out can be crafted…

… Greek default may prove less damaging to the rest of Europe than previously feared…

Papademos to Ministers: Back Bailout or Quit

Bloomberg

By Maria Petrakis and Simon Kennedy - Feb 10, 2012 9:25 PM GMT+0200

… current plans would leave Greece’s debt as high as 136 percent of GDP by 2020…

… The Greek offer is not sufficient…

… Political uncertainty, Papademos said, was the main reason for finance ministers failing to approve the program…

ECB opens door to indirect Greece aid

… Greek politicians finally signed up…

…. If the ECB distributes part of its profits …, that's not monetary financing,…

… the December operation had averted a major credit crunch…

By Eva Kuehnen

FRANKFURT | Thu Feb 9, 2012 1:08pm EST

Greek Finance Minister Heads to Brussels; Loan Talks Stall

The Wall Street Journal

By NEKTARIA STAMOULI, ALKMAN GRANITSAS and STELIOS BOURAS

… slash minimum wages in the private sector by 22%...

… abolish permanent jobs in state enterprises and cut 150,000 jobs in the public sector by 2015…

… parties clashed over whether to enact cuts in primary or supplemental pension benefits…

Greek leaders face crunch talks as unions strike

… I honestly can't understand how additional days will help…

Euro zone insists no Greek rescue without reforms

… They think, that we think that the unthinkable cannot be thought. But they better think again,…

5-2-2012

Greece Seeks Second Rescue, Fights for Euro

Bloomberg

By Jonathan Stearns - Feb 3, 2012 1:48 PM GMT+0200

… We can’t pay into a bottomless pit…

… The question is whether they will also leave the euro…

EU Nears Confrontation Over Greek Rescue

Bloomberg

By James G. Neuger and Jonathan Stearns - Jan 31, 2012 10:50 AM GMT+0200

… Euro leaders left a Brussels summit late yesterday with no accord…

… Germany’s proposal for an EU-appointed overseer of the Greek budget prompted consternation in Athens…

… The permanent fund requires governments to put collective action clauses into new bond issues…

The euro crisis

What to do about Greece

Its insolvent economy needs a bigger debt reduction. A precipitous exit from the euro would be a disaster

The Economist

Jan 28th 2012 | from the print edition

… Discard the veneer of voluntarism and Greece can be tougher on its creditors…

… the real culprit is the Greek government, which has proved singularly incapable of implementing the reforms needed…

… Greece’s European rescuers should offer the country a clear choice…

Greece, Bankers Expect Debt-Swap Deal This Week

Bloomberg

By Marcus Bensasson and Maria Petrakis - Jan 29, 2012 9:56 AM GMT+0200

…bonds issued in the swap should have a coupon “well below” 3.5 percent for the period to 2020 and below 4 percent over the 30 years. As recently as Jan. 23, private investors wanted the new 30-year bonds to have an average coupon of about 4.25 percent…

Greek debt talks resume in race against the clock

By George Georgiopoulos and Lefteris Papadimas

ATHENS | Thu Jan 26, 2012 6:52am EST

… Christine Lagarde put pressure on the ECB on Wednesday, saying it and other public creditors may need to accept losses…

… The interest rate on the new bonds has been the main stumbling block…

… The ECB had ruled out taking voluntary losses on its Greek bond holdings but is now debating how it would handle any forced losses …

EU Ministers Press Greece, Creditors

The Wall Street Journal

By COSTAS PARIS, MATINA STEVIS and RIVA FROYMOVICH

… a crucial chunk of Greece's first bailout was withheld for several weeks, partly because Greece's then-opposition leader, Antonis Samaras, refused to commit to the austerity policies…

… EU ministers indicated they had lost faith in Greece's ability or will to implement the overhauls…