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 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. […]
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. […]
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 […]
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 […]
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. […]
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. […]
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. […]