In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Saturday, June 04, 2011

Greece Update: Creditors asked to accept longer maturities

by Calculated Risk on 6/04/2011 04:15:00 PM

From the WSJ: Greece Creditors Must Give €30 billion to Bailout

Euro-zone governments have reached a tentative deal ... that will seek roughly €30 billion in contributions from the country's private-sector creditors ...

[additional] financing will likely come with the condition that the banks, pensions funds and other investors holding Greek bonds agree to exchange them for new bonds with a longer maturity to help fill Greece's financing gap over the next three years
This will be "voluntary" and not trigger a "credit event", but the alternative - according to one official - is default.

Summary for Week Ending June 3rd

Friday employment posts:
May Employment Report: 54,000 Jobs, 9.1% Unemployment Rate
Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
Birth/Death Model and Unemployment by Duration and Education
Employment graph gallery