Finance ministers of the 19-country eurozone have hammered out a deal in Brussels with Greece in the early hours of Wednesday after an 11-hour-meeting to which is described as a "major breakthrough" to start debt relief and unlock over 10 billion euros bailout cash for Greece.
As the data on local government debt in 2015 have been gradually disclosed, journalist of the 21st Century Business Herald outlines the sketch of local government debt for 2015 according to the data set out in bond issuance documents and rating reports published by local governments.
During a cabinet meeting here on Tuesday, Greek Prime Minister Alexis Tsipras hailed the "road map to debt relief" discussed at the Eurogroup meeting on Monday in Brussels.
Moody's Investors Service said in a report on Tuesday that the increase in leverage across Asia Pacific over the last five years could weigh on sovereign credit quality.
To avoid bad loans bringing more trouble to an already ailing economy, China appears prepared to allow banks to exchange bad debt for stocks in the companies concerned.
The Economist Intelligence Unit warned the world that China was set for a hard landing in its latest global risk analysis report, but closer inspection shows it to be a false alarm.
The decision of rating agency Moody's to cut its outlook on China's sovereign bonds from stable to negative has raised doubts among economists, who said Moody's "just did not get it."
Moody's downgraded its outlook on Chinese government debt to "negative" from "stable" on Wednesday (March 2), citing uncertainty over authorities' capacity to implement economic reforms, rising government debt and falling reserves.
French President Francois Hollande started a two-day official visit to Greece on Thursday, voicing a clear message of support to efforts to pull the country out of the six-year debt crisis and back on the path to economic growth.
The 16th meeting of the 12th secession of the Standing Committee of the National People’s Congress held on Aug. 29 passed the resolution on the Proposal on Quota of Local Government Debt in 2015 for Deliberation and Approval of the State Council.
China's top legislature on Saturday imposed a ceiling of 16 trillion yuan (2.51 trillion U.S. dollars) for local government debt in 2015.
Italy's public debt dropped to 2.2036 trillion euros in June, down by 14.6 billion euros on the record high reached in May, the Bank of Italy said on Thursday. But economists believed that is not a reason to be optimistic because Italy's staggering debt mountain will likely become problematic unless the country's economy can start to grow.
A leading economic think-tank forecast Wednesday that Greece's GDP will shrink this year by three percent and 2.3 percent next year. Thus it will eventually be nearly a third smaller than it was at its peak.
Five years into the Greek financial crisis, a third bailout and a much-awaited discussion on debt restructuring are on their way.
Portugal's debt issue on Wednesday shows confidence and the country is ready to take on commitments to lower the its debt, Portuguese Prime Minister Pedro Passos Coelho said.
U.S. stocks suffered big losses Wednesday, as investors were digesting the Federal Reserve's minutes and the latest development in Greek debt crisis.
U.S. Treasury Secretary Jacob Lew on Wednesday urged European officials to reach a deal with Greek government to restructure its debt in a sustainable way and keep the debt-beleaguered country in the euro zone.
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