Greece negotiates write-down on debt

Note: This section contains information in English only.
Source: XINHUANEWS
© Scanpix/AFP

On Wednesday Greek short-term PM Lucas Papademos opened talks on details regarding write-down of Greek national debt owned by private sector. According to the presidential office, today Papademos are negotiating 50% debt ''haircut'' with the leader of Institute of International Finance (IIF). Nevertheless, analysts express growing concern, as the implementation of decisions made in summit on October 26 is delaying. 

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Thu, 17 Nov 2011 08:23:00 GMT

Kiwi and Aussie hit 1-month low

New Zealand and Australian dollars have hit 1-month record lows against US peer on distress worldwide economy will decelerate as Europe struggle to solve region's debt turmoil. Kiwi attained $0.7618, the lowest since October 5 while Aussie reached $1.0022, the least since October 12.  According to Gavin Stacey Barclays Plc, chief interest-rate strategist, both currencies could slide even further in short-term.

Thu, 17 Nov 2011 08:11:11 GMT

US stocks drop on Fitch announcement

On Wednesday US equities experienced a decline during last trading hour as Fitch Ratings reported that US banking industry is exposed to contagion form Euro region debt crisis. S&P 500 dropped 1.7% or 21 points, Dow Jones industrial average lost 1.6% or 191 points, while Nasdaq composit slipped 1.7% or 47 points. During the day investors attempted dump bonds of most European countries except Germany.

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