Bloomberg L.P.
‘Montenegro’ scenario of parallel currency ‘cited’ by Schaeuble for Greece
German Finance Minister Wolfgang Schaeuble reportedly “cited” a … “Montenegro” scenario for debt-laden and recession-plagued Greece on Friday, i.e. a parallel currency.
According to Bloomberg, under such a scenario the euro would be used in the country along with a new (local) currency if ongoing talks with creditors languish.
Georgios Michelis said to be next HFSF chief
Georgios Michelis, a former executive at Emporiki Bank, is on track to become chairman of Greece?s bank rescue fund, according to two euro-area officials.
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Frigoglass bonds surge on plan to sell glass unit to reduce debt
Bonds of Frigoglass SAIC surged to an eight- month high after the Greek refrigeration supplier said it will sell its glass unit to pay down debt and focus on its core cooling business.
The company?s 250 million euros ($279 million) of 8.25 percent notes due May 2018 rose 4.9 cents on the euro to 100.7 cents, according to data compiled by Bloomberg.
Greek bonds performing well amid optimism for deal
Greek bonds are the best performing sovereign securities tracked by Bloomberg?s World Bond Indexes in the last month amid optimism an agreement may be within reach.
On Tuesday, the Greek paper rebounded after Monday?s sell-off, with yields on notes due 2017 falling 122 basis points to 22.77 percent.
[Bloomberg]
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The Big Apple to the Big Olive, a hypothetical situation
Bloomberg points to big US companies that hold $1.73 in cash of which %1.1 trillion belongs to the 50 biggest companies according to Moody’s Investor Services. Most of the money is hoarded overseas but repatriating would subject it to a 35% US tax and spending it or even giving it back to shareholders is a pain.
Majority sees Greece headed for euro exit in Bloomberg user poll
By Ian Wishart
Greece, mired in a protracted financial crisis and at loggerheads with its bailout stewards, will leave the euro, according to the majority of investors, analysts, and traders in a Bloomberg survey.
Cyprus-based Mercuria seeks tie-up with private equity firms
Cyprus-based Mercuria Energy Group Ltd is looking to tie up with private equity firms to buy oil and gas production amid weak crude prices, said chief executive officer Marco Dunand.
Mercuria could spend as much as $1 billion on majority or minority stakes and will study projects in places including the US, Argentina and Nigeria, he said in an interview on Wednesday.
BloombergView asks: Why is this man laughing?
"Why is Varoufakis laughing" is the caption under the photograph of Greek FinMin Yanis Varoufakis, in an editorial by Bloomberg columnist Mark Whitehouse.
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Greece makes 448-mln-euro payment to IMF
Greece made its 448-mln-euro loan repayment to the International Monetary Fund (IMF) on Thursday. Bloomberg and the Athens Macedonian News Agency quoted Finance Ministry sources that stated that the tranche was paid on time.
The money paid back is part of a bailout installment from 2010.
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Bloomberg: Greek banks ? 'bleeding' deposits
Bloomberg reports that money is leaving Greek banks in ? bags!
According to the news agency, outflows are so high that European officials are taking notice, as the head of the Eurogroup Jeroen Dijsselbloem even refered to a "restriction on capital movements".
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