European sovereign debt crisis timeline
Greece's borrowing costs fall after inclusion in ECB's package
Greek borrowing costs fell sharply on Thursday following the European Central Bank's (ECB) decision to include Greek government bonds in an emergency assets purchases program.
The ECB triggered new bond purchases worth 750 billion euros ($816.90 billion) at an emergency meeting late on Wednesday to stop a pandemic-induced financial rout from shredding the euro zone's economy.
Greek economy heads toward investment grade
Two international agencies have upgraded the Greek sovereign credit rating in the last few days, taking Greece closer to investment grade after a nearly decade of economic crisis and international bailouts.
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Draghi: Greece selling debt at negative rates is a success
Greece's foray into the markets in October, when investors bought its short-term debt at a loss, shows the country's painful efforts to shore up its finances and economy were a success, the outgoing president of the European Central Bank (ECB), Mario Draghi, said on Thursday.
Moody’s keeps outlook for Greece stable, rating at B1
Despite expectations that Moody's would declare Greece's debt outlook positive, the credit rating agency has kept it stable. As expected, Moody's kept Greece's debt rating at B1, four notches below investment grade.
Moody’s not expected to change rating
Citibank expects credit rating agency Moody's to keep its rating on Greece's debt steady at B1 while improving its outlook from stable to positive.
Moody's, along with Standard & Poor's, rates Greece's debt four levels below investment grade, while Fitch rates Greece a level above.
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Greece announces bond issue, first under new government
Authorities in Greece say the country is planning tap financial markets with the issue of a 7-year bond, the first under the new conservative government of Prime Minister Kyriakos Mistotakis.
In a notice released Monday, Greece's Public Debt Management Agency named banks in charge of managing the auction. PDMA announcements are typically made on the eve of the auction.
EU court rejects investor calls for PSI compensation
The General Court of the European Union said on Thursday that the European Central Bank does not have to compensate private holders of Greece's sovereign debt who were forced to take losses during the country's 2012 international bailout.
EU court rejects investors' calls for ECB compensation over Greek bailout
The General Court of the European Union said on Thursday the European Central Bank does not have to compensate private holders of Greece's sovereign debt who were forced to take losses during the 2012 international bailout of the country.
Greek austerity policy ‘proven to be right,’ says Merkel
German Chancellor Angela Merkel has defended austerity policy in Greece and other debt-hit countries in the eurozone, however acknowledging that the people had to shoulder a "considerable" burden.
"What counts is that the currency union and the euro were maintained," Merkel said in an interview with Germany's Suddeutsche Zeitung.
S&P refrains from raising Greece's credit rating citing election risks
Standard & Poor's stopped short of raising Greece's sovereign rating on Friday, affirming it at B+ with a positive outlook, although the market had widely anticipated an upgrade.