This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13166589
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
London trader faces Interpol over Greek debt email | London trader faces Interpol over Greek debt email |
(40 minutes later) | |
The Greek authorities have asked Interpol to question a London trader over an email he sent which talked of the high chance of a Greek default. | The Greek authorities have asked Interpol to question a London trader over an email he sent which talked of the high chance of a Greek default. |
The email, published in a Greek newspaper, refers to "increased noise" over a Greek debt restructuring as early as Easter. | The email, published in a Greek newspaper, refers to "increased noise" over a Greek debt restructuring as early as Easter. |
Greece is highly sensitive to allegations it may not stick to strict repayment terms on its recent bail-out. | |
The finance ministry says the incident amounts to "possible criminal conduct". | The finance ministry says the incident amounts to "possible criminal conduct". |
Greek police say the email was sent from the desk of a Citibank trader in London. | Greek police say the email was sent from the desk of a Citibank trader in London. |
Citibank said in a statement: "We are co-operating with the authorities and do not consider there to have been any wrongdoing by Citi or its employees." | |
Speculation Greece will default and fail to pay back its borrowings has pushed interest rates on debts due for repayment in 10 years to 15%, meaning it has to pay almost 12% more to raise cash than its fellow eurozone member, Germany. | Speculation Greece will default and fail to pay back its borrowings has pushed interest rates on debts due for repayment in 10 years to 15%, meaning it has to pay almost 12% more to raise cash than its fellow eurozone member, Germany. |
Bonds that are due for repayment in two years were paying 23%, indicating that investors thought they were even less likely to be paid back in full. | Bonds that are due for repayment in two years were paying 23%, indicating that investors thought they were even less likely to be paid back in full. |
On Wednesday, Athens' main stock index dropped 2.6% on a new wave of fears. | On Wednesday, Athens' main stock index dropped 2.6% on a new wave of fears. |
Greece's Finance Minister George Papaconstantinou insisted on Wednesday that Greece could deal with its debt mountain. | Greece's Finance Minister George Papaconstantinou insisted on Wednesday that Greece could deal with its debt mountain. |
The country was the first of three to ask for special help from the European Union and its partners after it became clear a year ago that it could not close the gap between spending and borrowing. | The country was the first of three to ask for special help from the European Union and its partners after it became clear a year ago that it could not close the gap between spending and borrowing. |
Greece's attempts to regain international trust in its finances have already included public sector cuts that have sparked massive demonstrations. | |
Last week it announced a privatisation programme to raise 50bn euros ($71.5bn; £44bn). | Last week it announced a privatisation programme to raise 50bn euros ($71.5bn; £44bn). |
Previous version
1
Next version