Wall Street falls as Greece concerns weigh again
Indiatimes - 3 hours 37 min ago
US stock fell after a five-week rally on concerns Greece may be unable to avoid a chaotic default as it struggles to reach terms on a new bailout package.

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BBC - VIDEO: Greece restarts debt crisis talks - 3 hours 46 min ago

The BBC's Aaron Heslehurst on the resumption of Greece's debt crisis talks and China's refusal to pay a new EU airline tax.

Wall Street Journal - Strike Looms as Greek Leaders Push for Deal - 3 hours 56 min ago

Signs of popular protest loomed over Greece's political leaders as they raced to agree on painful reforms, including private-sector pay cuts, needed to win a new bailout agreement.

BusinessWeek - Greece Seeking Second Rescue Faces Battle to Stay in Euro - 6 hours 9 min ago

Greece’s fight to win its second international bailout may only open a new chapter in its struggle to remain in the euro area.

Indiatimes - Greece already 'past deadline' for debt deal: EU - 6 hours 15 min ago

The European Commission warned Monday that Greece is already late in meeting Brussels demands for a political deal to re-shape its economy.

AP - Sarkozy: Greece should create fund to pay debt - 6 hours 54 min ago

PARIS (AP) -- French President Nicolas Sarkozy says France and Germany agree that Greece should place state revenues into a separate fund to pay down its crushing debt and avoid bankruptcy....

Wall Street Journal - U.S. Futures Drop - 7 hours 2 min ago

U.S. stock futures dropped as party leaders in Greece struggled to agree on another dose of painful austerity measures and the threat of default loomed large once again.

Indiatimes - Will Greek deals default with their country? - 7 hours 29 min ago

Fitch expects Greece to undertake an orderly debt restructuring, which would ensure that a payment system is in place.

France24 - European markets drop awaiting Greek debt deal - 8 hours 3 min ago

Europe's main stock markets dropped and the euro fell versus the dollar Monday as investors waited to see whether Greece would strike a crucial debt deal.Indices were down after closing sharply higher on Friday in the wake of upbeat US jobs data.Early on Monday, the benchmark FTSE 100 index slipped ...

Indiatimes - Greece debt level spikes, but Italy's dips - 8 hours 30 min ago

The EU's statistics office says Greece's debt spiked to 159.1 percent of gross domestic product in the third quarter of 2011.

Indiatimes - Greek parties face EU bailout deadline - 9 hours 17 min ago

Alarmed by the prospect of yet more budget cuts, Greece's two main trade unions said they would call a 24-hour strike for Tuesday in protest.

Indiatimes - Euro zone strugglers lack innovative knack - 10 hours 1 sec ago

To get an idea of the economic mountain euro zone strugglers Greece and Portugal have to climb, consider this: per million inhabitants, they each filed fewer than eight applications with the European Patent Office in 2010.

Indiatimes - Intense Greek talks for debt deal continue - 10 hours 2 min ago

Parties backing Greece's coalition government will hold a second day of emergency talks Monday on an austerity deal with rescue creditors.

Reuters - Analysis: Euro zone strugglers lack innovative knack - 10 hours 3 min ago

LONDON (Reuters) - To get an idea of the economic mountain euro zone strugglers Greece and Portugal have to climb, consider this: per million inhabitants, they each filed fewer than eight applications with the European Patent Office in 2010.

BusinessWeek - European Stock Futures, Euro Drop Before Greece’s Debt Deadline - 10 hours 29 min ago

European stocks fell for the first time in five days and the euro weakened before a deadline for Greece to reach a deal with its creditors. Asian stocks climbed after data showed higher-than-expected U.S. jobs growth.

Indiatimes - Greece poised for further spending cuts - 10 hours 48 min ago

Greek Prime Minister Lucas Papademos and leaders of the country's political parties have agreed to further cut spending by 1.5 percent of GDP, the Greek government's press service said.

Indiatimes - European shares fall on Greek uncertainty - 11 hours 10 min ago

European shares fell back from a six-month high early on Monday, with investors worried about whether Greece can avoid a messy default.

Wall Street Journal - European Stocks Down - 11 hours 19 min ago

European stocks opened lower as investors paused for breath following Friday's bumper gains and turn their attention to Greece's debt restructuring talks.

Indiatimes - Vodafone abandons Greek talks with Wind Hellas - 11 hours 43 min ago

Vodafone said in August that it was exploring a potential cooperation with Greece's third-biggest telecoms operator in a move that would have reduced the overall market from three players to two.

Reuters - Asian stocks rise, U.S. jobs gain outweighs Greece - 13 hours 20 min ago

TOKYO (Reuters) - Asian shares rose on Monday as surprisingly robust U.S. jobs data bolstered investors' risk appetite, but the euro sagged on worries over a lack of progress in Greek debt restructuring talks which are vital to containing the euro zone crisis.

BusinessWeek - Europe Leaders Maintain Pressure on Greece to Complete Deal - 13 hours 43 min ago

European leaders maintained pressure on Greece to accept terms demanded by international lenders during a weekend of talks to avert a financial collapse.

BBC - VIDEO: Greece talks to resume - 14 hours 56 min ago

Party leaders in Greece are to resume talks on backing a 130bn euro bailout plan

New York Times - Greece Agrees to Harsh New Spending Cuts - 15 hours 28 min ago

The interim government agreed to cut spending this year by 1.5 percent of Greece’s gross domestic product, but members are yet to agree on details of austerity measures.

Indiatimes - Asian markets rise on strong US jobs data - 15 hours 30 min ago

Asian shares rose Monday, tracking gains on Wall Street after strong US jobs data but worries about Greece's unresolved debt crisis.

France24 - Strain shows in Greek coalition ahead of debt talks - 16 hours 14 min ago

Leaders of Greece's ruling coalition were steeling themselves for fresh talks Monday after objections to another round of spending cuts stalled progress on clinching a critical debt rescue package.Despite the looming threat of a disastrous debt default in March, Prime Minister Prime Minister Lucas ...

BBC - Bailout talks to resume in Greece - 17 hours 4 min ago

Party leaders in Greece's governing coalition are to resume crisis talks on backing a 130bn-euro rescue plan needed to avoid a debt default.

Reuters - Greek parties face Monday EU bailout deadline - 19 hours 8 min ago

ATHENS (Reuters) - Greece's coalition parties must tell the European Union on Monday whether they accept the painful terms of a new bailout deal as EU patience wears thin with political dithering in Athens over implementing reforms.

BusinessWeek - European Leaders Maintain Pressure on Greece to Complete Deal - 19 hours 32 min ago

European leaders maintained pressure on Greece to accept terms demanded by international lenders during a weekend of talks to avert a financial collapse.

Indiatimes - Jean-Claude Juncker warns of possible default - 20 hours 48 min ago

The possibility of a sovereign default by Greece cannot be ruled out, Jean-Claude Juncker, head of the Eurogroup of finance ministers.

Indiatimes - Greece on a 'knife-edge' as bailout deadline nears - 21 hours 8 min ago

Greek prime minister Lucas Papademos summoned political allies to an emergency meeting on Sunday after hours of negotiations with EU-IMF bailout.

Indiatimes - Greece forces overtime in critical debt talks - 22 hours 13 min ago

Prime Minister Prime Minister Lucas Papademos said the talks would continue on Monday, and that agreement had been reached on many issues.

New York Times - Greece Fights on Two Fronts to Secure New Bailout - 22 hours 40 min ago

Greece’s efforts to secure a second, €130 billion international bailout and avoid a default next month stalled on Sunday.

BusinessWeek - Greece’s Papademos, Leaders Agree on Framework for Talks - 22 hours 56 min ago

Greek Prime Minister Lucas Papademos and the three political party leaders supporting him agreed to take spending cuts this year equal to 1.5 percent of GDP, according to an e-mailed statement from the premier’s office in Athens.

COMMENTARY:

Zero Hedge - Greece has No Idea What It's Gotten Itself Into - 32 min 30 sec ago

Zero Hedge - Greece Should Take Control and File Chapter 11 - 1 hour 32 min ago

by S J Morton macroandcheese.org Greece is surrounded by the banker Barbarians at the Gate.

BusinessInsider - LIVE: Negotiations And Crisis In Greece - 2 hours 12 min ago

Multiple sets of negotiations are still dragging on in Greece. Government officials are trying to reach a deal with the country's private creditors on losses the latter will take in a controlled Greek restructuring. Meanwhile, the troika (European Central Bank, representatives of the European ...

Morningstar - Stocks Lower on Greece Concerns - 2 hours 24 min ago

Read full story for details.

Der Spiegel - Delayed Austerity Talks: Merkel Demands that Greece Take Quick Action - 2 hours 27 min ago

Patience with Greece is wearing thin in Europe. On Monday, Chancellor Merkel became just the latest EU leader to demand quick action from Athens. But talks on additional austerity measures there continue to go nowhere despite the looming threat of bankruptcy. Greek politicians, after all, must ...

Seeking Alpha - Monday Market Madness: What's This Greece Thing? - 3 hours 24 min ago

NOW Greece is going to matter? Just when we were planning to get bullish, the Futures are off half a point as concerns about Greece, of all things, come back to the forefront as pretty much the entire country is poised to strike this evening on the expected news that even stricter austerity ...

Zacks - Feb 6: Greece back in the news Again - Economic Highlights - 5 hours 29 min ago

Greece back in the news Again

Wall Street Pit - Absence of Greece Debt Deal Weighs on Market - 5 hours 42 min ago

US stock futures are lower Monday morning in the absence of a Greek debt deal. Last week European officials expressed optimism that resolution was imminent, but there are still major hurdles to overcome as another deadline passes. Greek politicians are hesitant to impose another round of harsh ...

Zero Hedge - JPM Buys Greece For $2? - 6 hours 9 min ago

From Peter Tchir of TF Market Advisors JPM Buys Greece For $2 While we wait for the antics in Greece to result in some announcement, I can’t help but think about how different the Greek situation is from when JPM bought Bear Stearns (shortly after the last time the Giants won the super ...

Minyanville - Pre-Market Primer: Greece Bailout Concerns Throw Off Rally - 6 hours 9 min ago

If Friday was too euphoric for you fear not. Greece is here to put a damper on the start to the week. Greek Prime Minister Lucas Papademos is struggling to convince his government to approve the budget cuts required to get the 130 billion euro EU rescue fund. The ruling coalition is still working ...

Zero Hedge - On China, Greece Playing Chicken, US Ponzinomics and the Inevitable Fall of Manhattan Real Estate - 6 hours 41 min ago

A 7 minute video of my opinions on Greek haircuts, US and Manhattan real estate overvaluation, China bubble busting and hard landings, Case Shiller shortcomings and Germany's penthouse suite in the EU roach motel.

Credit Writedowns - Euro Dragged Lower on Greece Uncertainty - 6 hours 48 min ago

The dollar looks set to begin the week higher against the majors and EMs over lack of progress in Greece. European stocks are down 0.6%, with the EuroStoxx 600 trimming its 6-month high; EZ banks down 1.3%. German manufacturing orders higher in December; soft Australian retail sales support further ...

Zero Hedge - A Shift In European Sentiment - Is Germany Prepared To Let Greece Default? - 6 hours 56 min ago

Something quite notable has shifted in recent weeks in Europe, and it originates at the European paymaster - Germany. While in the past it was of utmost importance to define any Greek default as voluntary (if one even dared whisper about it), and that the money allocated to keep the Eurozone whole ...

24/7 Wall St. - A Tie Between the Fates of Greece and China - 7 hours 37 min ago

Greece is on the “razor’s edge” of default, its financial minister Evangelos Venizelos said. The International Monetary Fund said China’s GDP growth could collapse if the eurozone’s troubles increase. The IMF reported its forecast of China’s 2012 GDP increase could drop by 4% from ...

Seeking Alpha - Greece: Another Experiment? - 8 hours 24 min ago

In the fall of 2008, US authorities conducted a financial market experiment. They allowed a large and heavily interconnected firm, Lehman Brothers, to file for bankruptcy, apparently under the belief that the consequences should be limited as everyone knew this was coming. I think that, in ...

Der Spiegel - Euro Group President Jean-Claude Juncker: If Greece Doesn't Reform, 'It Can't Expect Solidarity' - 9 hours 7 min ago

In a SPIEGEL interview, Luxembourg Prime Minister Jean-Claude Juncker, head of the Euro Group, talks about the need for Greece to push ahead with economic reforms. If the country doesn't meet Europe's demands, it will have to declare bankruptcy in March, he says.

BusinessInsider - Here's Who Gets Clobbered If Greece Defaults - 9 hours 16 min ago

All eyes are on Greece again as the country continues its negotiations with private creditors and foreign leaders. The parties must agree to reforms that Greece must take before the debt-laden country can get access to desperately-needed bailout funds. On March 20, Greece will have to make a ...

BusinessInsider - At The Last Moment Greece Seems To Have Canceled Its Own Deadline For Austerity Negotiations - 10 hours 2 min ago

Greece was expected to report by noon (5 EST) whether its political parties have agreed to accept austerity proposals, according to a deadline set by Prime Minister Lucas Papademos. Less than an hour before the deadline, however, a Greek official told Reuters that there is no deadline today. Via ...

Morningstar - European Markets Down; Greece in Focus - 10 hours 42 min ago

Read full story for details.

BusinessInsider - There's One Key Phrase To Help You Understand Where Greece Is At - 22 hours 39 min ago

Okay, so any hope of a Greece deal before the Asian markets close is off. According to the FT, talks will resume on Monday. There's really one key dynamic to understand here... You know the phrase: "If you owe your bank a thousand dollars, then you're in trouble, but if you owe your bank a ...

VIDEO:

Reuters Video - Trading at Noon: Wall St. eases as investors eye Greece - 1 hour 50 min ago

Feb. 6 - U.S. stocks edged lower after a five-week rally on concerns Greece may be unable to avoid a chaotic default.

CNN Video - Greece may need Eli Manning - 4 hours 12 min ago

On the brink of default, Greece needs late fourth quarter heroics and strong leadership.

Reuters Video - Markets fall on critical Greece - 5 hours 10 min ago

Feb.06 - European stocks slipped from a six-month high on Monday in response to renewed concerns about debt-troubled Greece which prompted investors to book some profits. Sonia Legg reports