Saturday August 23, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
IIF: Danger of 1 trln euro fallout from Greek default

A disorderly default in Greece would likely necessitate outside support for Spain and Italy to stop the threat of contagion, and could cause more than 1 trillion euros of damage to the eurozone, a group of bondholders warned.

"There are some very important and damaging ramifications that would result from a disorderly default on Greek government debt,» a document from the Institute of International Finance said. «It is difficult to add all these contingent liabilities up with any degree of precision, although it is hard to see how they would not exceed 1 trillion euros."

The document was obtained by Reuters from a market source. It was dated Feb. 18 and marked «IIF Staff Note: Confidential».

The IIF wants bondholders to sign up for a bond swap deal by a deadline on Thursday, aimed at saving Greece more than 100 billion euros and putting the country on a more stable footing.

[Reuters]

ekathimerini.com , Tuesday March 6, 2012 (10:53)  
Perceptions and praying for our peers
New banking measures aimed at tackling nonperforming loans
Smaller firms wiped out by the crisis
Bank shares on wild ride amid test fears
Baltakos rejects reports of plans to form own party
Ex-cabinet secretary and prime-ministerial adviser Panayiotis Baltakos says he is not poised to form his own party but believes New Democracy should be doing more to attract right-wing voter...
Athens finalizes Paris talks goals
The Greek government has begun finalizing its negotiating strategy for the imminent talks with troika officials in Paris, setting four clear priorities for the September meeting. Kathimerini...
Inside News
Soccer refereeing investigation goes into final stage
A judicial probe into alleged corruption in Greek soccer is entering its final phase, with 11 top officials due to give depositions to Court of First Instance deputy prosecutor Aristidis Kor...
West Brom sign Greek international striker Samaras
West Bromwich Albion have signed Greece striker Georgios Samaras on a two-year contract following his release from Scottish champions Celtic, the English Premier League club said on Friday. ...
Inside Sports
COMMENTARY
Purification rituals
The collection of higher-than-expected state revenues (which exceeded the target set for the seven-month period by 555 million euros) from income taxes and the terrible introduction of the n...
EDITORIAL
Building a solid state apparatus
The conservative-led government is making a valiant effort to modernize the country’s public administration. Bringing the system up to a decent standard is of course a painstaking process th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Perceptions and praying for our peers
2. New banking measures aimed at tackling nonperforming loans
3. Smaller firms wiped out by the crisis
4. Bank shares on wild ride amid test fears
5. Baltakos rejects reports of plans to form own party
6. Soccer refereeing investigation goes into final stage
more news
Today
This Week
1. Purification rituals
2. Greek police in easiest drug arrest ever
3. Athens finalizes Paris talks goals
4. Kavala man left 6 dogs at home without food or water for 2 weeks
5. Athens police seek hit-and-run driver after pedestrian dies
6. Baltakos rejects reports of plans to form own party
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. The magical mountain
3. Brussels warns Greece over plans to allow construction near Korinos beach
4. Merkel cites euro’s ‘construction flaws’ as economy sputters
5. Greek stock recovery fading away as ASE falls 21 pct on valuations
6. Second man held over double murder in Mani
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.