Wealth Finance

Just an update .. from Reuters: Analysis: Europe groping for new Greek crisis plan

“We think that Greece does need a further adjustment programme,” [Claude Juncker, chairman of the zone's finance ministers] said, after meeting with the finance ministers of Germany, France, Italy, Spain and Greece as well as European Union monetary affairs commissioner Olli Rehn and European Central Bank President Jean-Claude Trichet.

“This has to be discussed in detail and will be taken up at the next Eurogroup meeting on May 16.”
…
A new Greek economic plan could push back the deadlines to hit budget targets … Euro zone official sources told Reuters that a new plan would probably also involve softening the terms on the 80 billion euro portion of emergency loans extended by the EU under the bailout.
…
Greek and European officials, wary of panicking the markets, insist a restructuring is not on the cards, but privately EU officials are increasingly open about the possibility.

Investors clearly expect some sort of restructuring fairly soon; either haircuts or an extension of maturities.

Earlier: Total Fannie, Freddie, FHA REO inventory declined in Q1, Fannie and Freddie REO Sales at Record Levels

Friday employment posts (with graphs): Employment Summary, Part Time Workers, and Unemployed over 26 Weeks Employment Graph Gallery

Similar Posts:

• ECB Official: Extension of Greek debt maturities possible
• Greece: Cabinet approves Austerity, European Banks pressured to accept losses
• ETFs’ European Bank Stocks May Carry Greek Risk
• Europe Update
• Commerzbank’s Greek Exposure Wipes Out Third Quarter Profit