ECB may take losses to keep Greece in the Eurozone

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Source: Reuters

European policymakers are trying to keep Greece in the Eurozone, while ECB and central banks are ready to accept losses in further Greek national debt restructuring.  While the total Greece's National Debt is around 220-230 billion euros, second restructuring of national debt may be a last chance to keep Greece solvent. One of the options, offered by ECB is a writedown of 30 per cent or about 70 billion euros of total debt.

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Fri, 27 Jul 2012 18:45:41 GMT

U.S. markets edged higher on Friday

On Friday, July 27, U.S. stocks edged higher as Germany and France claimed their readiness to do whatever is needed to save the Eurozone. The Dow Jones Index jumped 0.7 per cent, to 12,978.14, the Standard & Poor 500 soared 0.9 per cent, to 1,371.70 and the Nasdaq Composite added 0.7 per cent, to 2,913.20.

Fri, 27 Jul 2012 18:23:40 GMT

U.S. economy expanding at a slower pace

As reported by the Commerce Department, the world's biggest economy expanded by 1.5 per cent in the second quarter, as Americans are getting more cautious on spending, because of the softening job market. While major forecasts were around 1.4 per cent increase in gross domestic product, still the economy grew by 0.5 per cent less, than in the prior quarter.

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