GREECE - In the latest twist in the JP Morgan bond debacle, the firm told the parliamentary committee investigating the overpriced bonds scam that it was misled by a former employee.
The saga began when JPMorgan and North Asset Management sold €280m of structured bonds which were overpriced by €5m to the Greek government pension scheme, which it has since offered to buy back. According...
EUROPE - RBS expects Greece will experience a hard default this December in a move it says will cause "violent contagion" in global markets.
GREECE - Standard & Poor's has slashed Greece's long term credit rating from B to CCC, amid fears private sector debt proposals will amount to a default.
GREECE - The Greek parliament has narrowly voted to approve a drastic austerity package despite facing widespread opposition.
GREECE - Greece plans to sell €1.25bn ($1.78bn) of 13-week Treasury bills today as growing speculation the country will need to restructure its debt pushed bond yields to euro-era records.
GREECE - Greek telecom operator Hellenic Telecommunications Organisation (OTE) has said it will have to book a €129.8m ($179m) pensions cost charge to its 2010 accounts following an actuarial study by the Greek government.