Debt Relief the News

• Greek plan could mean exile from investors
  The private debt relief plan negotiated for Greece may make it impossible for the nation to borrow money for years to come and leave the country dependent for that much longer on its neighbors or the International Monetary Fund, the IMF warns in an analysis of the new rescue program. Read full article >> […]
• Greek Parliament to debate debt writedown deal
  Greek lawmakers will start debating emergency legislation to approve the country's private debt relief deal, as unions plan a new anti-austerity rally outside Parliament. […]
• Mortgage relief faces a tax-law nightmare
  The Mortgage Forgiveness Debt Relief Act — under which a reduction on mortgage principal as a result of a loan modification, short sale or foreclosure is not subject to federal income tax — will expire in 10 months, and there are early indications that Congress might not renew it by then. […]
• The Nation's Housing: Tax break for mortgage relief may disappear
  By KENNETH R. HARNEY Tuesday, February 21, 2012 Mortgage tax relief plan may disappear WASHINGTON — The Mortgage Forgiveness Debt Relief Act is set to expire in 10 months, and there are early indications on Capitol Hill that it might not make the cut. The law, first enacted in 2007, allows homeowners who have received principal reductions on their mortgages […]
• Exclusive: Greek debt load may get heavier, euro zone study says
  BRUSSELS (Reuters) - Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows. The baseline scenario in the […]
• Greeks greet debt deal with relief, but dread sacrifices ahead
  The EU agreed to give Greece a $170 billion bailout, rescuing the country from a default next month. But after five years of recession, the economic outlook is still not promising. […]
• In Greece, elation at new debt relief is tempered by prospect of new sacrifices
  at the cost of years of economic hardship. […]
• 8 questions answered on Greece's bailout deal
  A vital debt relief deal has been struck by Greece, saving the country from defaulting on loans. […]
• Some questions and answers on the bond swap deal Greece negotiated with private creditors
  Greece has struck a vital debt relief deal with representatives of private investors to avoid a disastrous default. The agreement will help shield Europe's already weak financial system, even though banks, pension funds and other bond investors have to accept multibillion-dollar losses. […]
• Icelandic Anger Brings Record Debt Relief in Best Crisis Recovery Story
  Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger. […]