Debt Management
European Commission to consider euro bond options
European Commissioner José Manuel Barroso says options for common eurozone bond will be reviewed; Bundesbank's Jens Weidmann says bond would lead to "socialisation" of debt
Bank of Israel paper reviews bond market reforms
Bank of Israel study shows success of reforms to local secondary government bond market were mixed
Greece may not opt for debt swap
Greek authorities say they will not agree to private-sector involvement unless 90% of eligible government bonds are included in transaction
ECB extends swap line agreement with BoE
The Bank of England and European Central Bank prolong swap line; new end date is September 28
Vote now: Should Greece leave the euro?
CentralBanking.com is running a poll to gauge readers' thoughts on the breakdown of the eurozone
Germany denies eurobond option
Talk of a common bond for the euro area dominates discussions ahead of meeting with European leaders on economic governance reform; Germany says topic will not feature on agenda
Three strikes and you’re out
Standard and Poor’s downgrade of US debt is just one of a handful of errors made by credit rating agencies, writes Robert Aliber
Dollar falls on S&P downgrade
Standard and Poor’s makes unprecedented move by becoming the first ratings agency to downgrade the US credit rating; gold hits record high as dollar falls
ABS markets influential on composition of international debt markets: ECB report
European Central Bank study on asset-backed securities markets provides valuable insight into the currency composition of international debt markets
Greece inches closer to default status
Fitch downgrades Greece’s long-term credit rating to CCC, one notch above default, in an active week for ratings agencies
China insists local government debt is ‘manageable’
People’s Bank of China dismisses claims local government financing vehicles owe 14 trillion yuan; says risks from the debts are manageable
European debt concerns spark bond market sell off
European bond markets tumble amid growing concerns over Italy’s ability to tackle its fiscal deficit; uncertainty over Greek rollover adds to market uncertainty
US will resolve debt crisis by August 2: Obama
President Barack Obama says failure to raise the US debt ceiling would be “not acceptable”
Eurogroup agrees to extend Greek loan
Eurogroup agrees to disbursement of €12 billion tranche for Greece from European Union and IMF; Fund will have final say
Greece austerity measures pass vote
Greece averts default as parliament passes €28 billion austerity bill; government set to receive €12 billion lifeline from EU and IMF
Euro area heads endorse Vienna Initiative-style agreement
European governments back official and private sector involvement to roll over Greek debt
Fitch upgrades Colombia and Philippines
Fitch upgrades Colombia and Philippines one notch each as emerging markets bolster public finances; outlook reflects solid macroeconomic policies and strong public finances
Barroso confirms European finance ministers agree to EFSF fund rise
European Council set to meet in Brussels to discuss economic policy change and the Greek crisis; Barroso reveals finance ministers agree to raise European Financial Stability Facility fund
Euro finance ministers delay Greece deal
Eurogroup says second tranche for Greece will be delayed until at least early July as European finance ministers flesh out new deal for sovereign
Vienna Initiative agreement sets in motion Greece deal
German Chancellor Angela Merkel takes softer approach to Greece; says Vienna Initiative could form part of bailout deal
Wellink wants European Financial Stability Facility funds doubled
ECB governing council member wants fund boosted to €1.5 trillion
Ireland proposes haircuts for Anglo Irish bondholders
Irish finance minister Michael Noonan says Anglo Irish Bank senior bondholders should receive haircuts; pits the Irish government against the European Central Bank
Greece debate grips European markets
Dutch finance minister Jan Kees de Jaager says private credit holders of Greek debt should bare 30% of losses on paper; Fitch says any exchange of distressed debt would constitute a default
Bernanke warns Congress on fiscal deficit
Fed chairman warns limiting debt ceiling self defeating, says US must choose between “careful and deliberative process” of financial policy change or “much more painful” crisis response