A week later, Moody's cut its rating on MF Global to a notch above junk, pointing to
the European debt holdings.
Not exact matches
What we don't know the state of credit default swaps
held by banks against sovereign
debt and against
European banks, nor do we know the state of CDS
held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign
debt problems.»
With most of these
debts being
held by Chinese entities, it's unlikely we'll see a banking crisis in the same way we could have seen if Greece or Spain went belly up, said Lau — many foreign banks
hold European bonds — but we've seen markets panic on far less worrisome Chinese news in the past.
In October, the
European Union pledged to write off 100 billion euros ($ 127.8 billion) of Greece's
debt if bondholders would agree to voluntarily accept 50 percent losses on their Greek
holdings.
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Next Wednesday,
European finance ministers will
hold a conference call to discuss ways to deal with Greece's high
debt level.
From a financial standpoint, the impact is also very limited because most, if not all, of the
debt Greece owes is
held by public and governmental entities: the International Monetary Fund, the
European Union and the
European Central Bank (ECB).
Banks»
holdings of Italian sovereign
debt fell to 377 billion euros in June from 397 billion euros a month earlier, according to
European Central Bank data.
Professor Nick Bloom shows that the dramatic failures of banks, the
European debt crisis and geopolitical concerns have left people more uncertain about what the future
holds.
The U.S. credit downgrade and the
European debt crisis have divided investors into three camps: in the first investors are selling their stocks, in the second they're hunting for safe money havens, and in the third they're
holding their breath, hoping to wait out the storm.
These funds might
hold some U.S. bonds in their portfolios, but they focus primarily on foreign government
debt, such as bonds issued by
European and Asian countries.
% of world GDP, Andrew Langford, COR, default, Emerald Isle, Europe,
European sovereign
debt crisis, Event Driven, Fairfax, FBD
Holdings, Greece, home bias investing, Ireland, Irish value investing, ISEQ, Prem Watsa, Price / Book, Return on Equity, taxes, Thatcher, Total Produce, Trinity Biotech, UK, Wilbur Ross