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Analysis: Greek default may be gift to other euro strugglers

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Greece's tortuous debt restructuring and threat of retroactive laws to compel reluctant creditors heaps regulatory risk onto investors but may make voluntary sovereign debt revamps more attractive and likely for other cash-strapped euro sovereigns and their creditors.

Analaysis: Greek default may be gift to other euro strugglers

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Greece's tortuous debt restructuring and threat of retroactive laws to compel reluctant creditors heaps regulatory risk onto investors but may make voluntary sovereign debt revamps more attractive and likely for other cash-strapped euro sovereigns and their creditors.
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Athens, creditor group turn up heat on Greek bondholders

Athens turned up the heat on its creditors on Tuesday as it sought to secure a bond swap that will cut its mountainous debt, while the main bondholders group warned a disorderly default would cause more than a trillion euros of damage to the euro zone.
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Wall Street's bonuses fell 25 percent in 2011: NYC monitor

Wall Street's bonuses fell nearly 25 percent in 2011, a New York City fiscal watchdog estimated on Monday, a less severe drop than the industry has anticipated, though still likely to deliver a blow to the economies of New York City and New York state.
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Barclays taps ECB for 8.2 bln euros of cheap cash

Barclays Plc tapped the European Central Bank for 8.2 billion euros ($10.8 billion) of cheap funding this week, marking a U-turn for the bank as it had previously been worried about the risk of political interference if it took funds.
Spain's PM Rajoy holds a news conference at the end of a European Union leaders summit in Brussels.

Spain May Miss 2012 Deficit Target

Despite agreeing to the new European Union fiscal stability pact, Spain has autonomously decided to defy the established deficit target. Spain will not reach the previously set deficit target of 4.4 percent of gross domestic product (GDP) and instead opts for more flexibility, setting a new target of 5.8 percent of GDP.
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Spain defies Brussels on deficit target

Spain set itself a softer deficit target for 2012 than originally agreed under the euro zone's austerity drive, putting a question mark over the credibility of the European Union's new fiscal pact.
Signage for Barclays bank in London

Barclays Takes $10.9 Billion from ECB on LTRO

Barclays Plc has taken 8.2 billion euros ($10.9 billion) of the European Central Bank's (ECB) long-term refinancing operation (LTRO), which offers three-year loans to banks at a rate of 1 percent, in order to manage funding gaps in Spain and Portugal.
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Leaders' comments from European Union summit

European Union leaders met on Thursday to discuss the right balance between budget austerity and reviving lost growth, at the first summit for two years in which the euro zone debt crisis did not eclipse all else.
Police charge protesters during anti-austerity demonstrations in Barcelona

European Unemployment, Inflation Up

Euro zone unemployment rose in January to 10.7 percent, the highest figure since 1999, as the ranks of the jobless continued to swell in Portugal, Italy and Spain, among others, Eurostat, the statistical office of the European Union, said Thursday.
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New Greek bonds to price in high risk of default

New bonds that Greece will issue this month as part of its debt restructuring are likely to be the highest yielding in the euro zone as creditors price in a high risk of being forced to take yet more losses.
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Spain hardens deficit stance as recession looms

Spanish borrowing costs fell at an auction on Thursday despite a grim economic backdrop that has pushed the government to step up its drive for leeway from Brussels on its difficult debt cutting targets.
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Dutch parliament backs Greek bailout, reluctantly

The Dutch parliament, which has been heavily critical of euro zone bailouts, gave grudging backing to Greece's second rescue package on Tuesday saying it was needed to stabilize the currency bloc.
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German court raises hurdle to euro zone bailouts

Chancellor Angela Merkel's room for maneuver on future euro zone bailouts, in doubt after a revolt by coalition lawmakers, shrank further on Tuesday when Germany's top court raised a hurdle to swift action in financial rescues.
German Chancellor Merkel

German Court Deals Setback to Europe Bailout Effort

Germany's Constitutional Court ruled Tuesday that a parliamentary panel formed to approve urgent action by the euro zone bailout fund is in large part unconstitutional. The decision could hamper efforts to tackle the European debt crisis.
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Analysis: Politics cushion China's economic hard landing risks

The politics of China's need for a smooth leadership succession this year provide the best protection against a hard economic landing, regardless of stuttering exports, faltering capital flows, local government debts and lingering inflation risks.
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Greek banks continue to hemorrhage deposits: ECB data

Firms and consumers continued to pull their money out of Greek banks at a rapid rate in January, European Central Bank data showed on Monday, underscoring the ongoing lack of trust the country's banking system faces.

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