Euro Debt Crisis

An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...

The move came after the Greek parliament approved another round of spending cuts and tax increases demanded by international creditors.

Greece's euro zone creditors, notably Germany, have ruled out a writedown but are willing to consider other forms of restructuring such as a lengthening maturities.

The deal, which came after 23 hours of talks that continued through the night, must still be adopted by Greece's parliament and by euro zone countries.

Germany, which has taken a tough line on Greece, has profited from the country's crisis to the tune of 100 billion euros (109 billion US dollars), according to a new study today.

Greece and international creditors sought to put final touches to a multi-billion euro bailout accord on Monday to keep the country financially afloat and meet an important debt repayment to the European Central Bank within days.

The updated debt sustainability analysis (DSA) was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout programme of up to 86 billion euros in return for tougher austerity measures and structural reforms.

Asian shares and the euro were tentatively higher on Tuesday on hopes that Greece's conditional bailout agreement would bring to an end that country's debt crisis, though caution kept broad gains in check.

If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan.

A senior EU source said such a temporary exit from the euro was illegal and would not survive in the summit statement.

An EU source in Brussels said on Friday that the latest debt proposals from Athens -- which closely resemble the last offer from its creditors before talks stalled -- were "positive" enough to form the basis of a massive new bailout worth 74 billion euros ($82 billion).

In the latest proposals, Greece has asked for 53.5 billion euros ($59 billion) to help cover its debts until 2018, a review of primary surplus targets and "reprofiling" the country's long-term debt.

Such sales occur every month in Greece as part of a rollover of treasury bonds.

The euro fell Wednesday after Europe slapped Greece with a deadline to submit fresh bailout reform proposals or face a eurozone exit, while a Chinese stock market rout also spooked traders, sending them into the yen.

With withdrawals from cash machines rationed to a maximum of 60 euros a day and the banks shut since last week, supplies of banknotes have been dwindling fast.

An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...

The move came after the Greek parliament approved another round of spending cuts and tax increases demanded by international creditors.

Greece's euro zone creditors, notably Germany, have ruled out a writedown but are willing to consider other forms of restructuring such as a lengthening maturities.

The deal, which came after 23 hours of talks that continued through the night, must still be adopted by Greece's parliament and by euro zone countries.

Germany, which has taken a tough line on Greece, has profited from the country's crisis to the tune of 100 billion euros (109 billion US dollars), according to a new study today.

Greece and international creditors sought to put final touches to a multi-billion euro bailout accord on Monday to keep the country financially afloat and meet an important debt repayment to the European Central Bank within days.

The updated debt sustainability analysis (DSA) was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout programme of up to 86 billion euros in return for tougher austerity measures and structural reforms.

Asian shares and the euro were tentatively higher on Tuesday on hopes that Greece's conditional bailout agreement would bring to an end that country's debt crisis, though caution kept broad gains in check.

If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan.

A senior EU source said such a temporary exit from the euro was illegal and would not survive in the summit statement.

An EU source in Brussels said on Friday that the latest debt proposals from Athens -- which closely resemble the last offer from its creditors before talks stalled -- were "positive" enough to form the basis of a massive new bailout worth 74 billion euros ($82 billion).

In the latest proposals, Greece has asked for 53.5 billion euros ($59 billion) to help cover its debts until 2018, a review of primary surplus targets and "reprofiling" the country's long-term debt.

Such sales occur every month in Greece as part of a rollover of treasury bonds.

The euro fell Wednesday after Europe slapped Greece with a deadline to submit fresh bailout reform proposals or face a eurozone exit, while a Chinese stock market rout also spooked traders, sending them into the yen.

With withdrawals from cash machines rationed to a maximum of 60 euros a day and the banks shut since last week, supplies of banknotes have been dwindling fast.