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Reuters (November 16)

2023/ 11/ 18 by jd in Global News

“Restructuring a restructuring isn’t good news. Alibaba scrapped the spinoff of its prized cloud computing business, blaming U.S. curbs on advanced chips,” causing its shares over 10% lower. “The U-turn dashes market expectations of stability among technology companies after the end of Beijing’s years-long regulatory crackdown. The country’s weak economy and bad geopolitics mean the sector hasn’t yet hit a bottom.”

 

Financial Times (January 28)

2022/ 01/ 29 by jd in Global News

“Oaktree Capital is risking a showdown with Beijing over control of one of ailing property developer Evergrande’s most-prized projects in mainland China.” Seizing “the Venice development could have a profound effect on the wider restructuring of Evergrande, the property developer that has scrambled to reassure its creditors since its finances started to unravel last year.”

 

Reuters (August 16)

2018/ 08/ 19 by jd in Global News

“Banks still have to work to rebuild public trust, despite years of restructuring and paying fines and compensation for misbehaviour.” A YouGov survey found that “66 percent of adults in Britain do not trust banks to work in the best interests of society.”

 

Euromoney (November Issue)

2014/ 11/ 16 by jd in Global News

With returns on some Ukraine sovereign debt exceeding 16%, there are obviously concerns over a possible default. “Ukraine’s policymakers, however, are adamant that default or even restructuring is out of the question. The main reasons given are national pride and, more cogently, a desire to maintain access to international capital markets.”

 

Financial Times (June 22)

2011/ 06/ 23 by jd in Global News

“Bond investors are already pricing Greece’s government debt as though it has defaulted.” The Financial Times presents the four scenarios most likely to play out in the ongoing Greek saga: Disorderly default, Orderly default, Staggering on and Leaving the euro. None of them are pretty and the actual course will likely be revealed in the next few weeks.

“Bond investors are already pricing Greece’s government debt as though it has defaulted.” The Financial Times presents the four scenarios most likely to play out in the ongoing Greek saga: Disorderly default, Orderly default, Staggering on and Leaving the euro. None of them are pretty and the actual course will likely be revealed in the next few weeks.

 

The Economist (June 9)The Economist (June 9)

2011/ 06/ 10 by jd in Global News

By postponing difficult decisions about “the Greek mess,” Europe’s leaders are only creating future problems. “The rescuers think buying time reduces the risk of contagion from a Greek debt restructuring to other euro-zone countries. But the pall of an unsolved Greek mess will continue to hang over the euro zone, just as it has done for the past year.” Instead they should begin “an orderly restructuring of Greek debt now. That remains the only solution.”

By postponing difficult decisions about “the Greek mess,” Europe’s leaders are only creating future problems. “The rescuers think buying time reduces the risk of contagion from a Greek debt restructuring to other euro-zone countries. But the pall of an unsolved Greek mess will continue to hang over the euro zone, just as it has done for the past year.” Instead they should begin “an orderly restructuring of Greek debt now. That remains the only solution.”

 

The Telegraph (May 22)

2011/ 05/ 26 by jd in Global News

Half the world thinks Greece should restructure its debt. The other half doesn’t. Prime Minister George Papandreou has come down firmly against any debt restructuring, but Greek citizens may think otherwise. Continued belt tightening could risk “further civil unrest. A poll published on Sunday showed 80pc of Greeks would refuse to make any further sacrifices to ensure continued EU and IMF support for the bail-out.”

 

New York Times (May 13)

2011/ 05/ 16 by jd in Global News

A year after Europe’s leaders put together a $140 billion bailout packaged for Greece, they are now expected to propose “a further $86 billion dose of the same failed medicine.” They shouldn’t. Delaying the inevitable simply inflates the final bill. Greek debt needs to be restructured. “The longer Europe’s leaders hide from this fact, the bigger the eventual bill will be, and the longer Greeks will have to wait for renewed growth.”

 

Economist (May 12)

2011/ 05/ 15 by jd in Global News

“If the stakes were not so high, Europeans’ incompetence in the euro-zone debt crisis would be comic.” A year after the Greek rescue began, there is still no end in sight. A new plan is long overdue, but instead “Europeans are bickering like children in a playground.” Call it what you will, it is time for a reprofiling or orderly debt restructuring.

“If the stakes were not so high, Europeans’ incompetence in the euro-zone debt crisis would be comic.” A year after the Greek rescue began, there is still no end in sight. A new plan is long overdue, but instead “Europeans are bickering like children in a playground.” Call it what you will, it is time for a reprofiling or orderly debt restructuring.

 

Economist (March 31)

2011/ 04/ 01 by jd in Global News

A “big step forward” is how Germany’s chancellor Angela Merkel characterized the March 24-25 euro-zone summit. The Economist thinks otherwise. ”Something between a fudge and a failure would be more accurate.” Europe’s leaders must face up to the fact that Greece, Ireland and Portugal are bust and their debts need to be restructured. Delaying the inevitable only makes things worse.

A “big step forward” is how Germany’s chancellor Angela Merkel characterized the March 24-25 euro-zone summit The Economist thinks otherwise. ”Something between a fudge and a failure would be more accurate.” Europe’s leaders must face up to the fact that Greece, Ireland and Portugal are bust and their debts need to be restructured. Delaying the inevitable only makes things worse.

 

[archive]