Default – The European Union Times ⚡ Shocking Hidden News Reports ⚡

Sri Lanka Declares Financial Bankruptcy as Food and Fuel prices Skyrocket

EU Times — Thu, 14 Apr 2022 15:04:45 +0000

Crisis-hit Sri Lanka has announced that it will halt payments on its foreign debt as its dwindling reserves of dollars are needed to purchase food and fuel. “We have come to a situation where the ability to service our debt is very low. That’s why we decided to go for a preemptive default,” the newly […]

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Germany confiscates 20 Tons of Gold from impoverished Venezuela after default on swap agreement

EU Times — Thu, 06 Jun 2019 11:46:37 +0000

Germany’s biggest lender, Deutsche Bank, has basically stolen 20 tons of gold belonging to Venezuela as collateral after Caracas defaulted on a gold swap agreement valued at US$750 million. The seizure comes as part of a deal clinched between the Bolivarian Republic and the lender as early as 2016, Bloomberg reports. Under the terms of […]

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Trump Puts The Idea of a US Government Debt Default On The Table

EU Times — Wed, 11 May 2016 12:02:09 +0000

On Thursday, Donald Trump told CNBC that his solution to dealing with the $19 trillion-plus national debt involves a form of default such as repurchasing existing bonds at a discount. The media jumped all over him calling his idea “insane” and warning that it would tank the economy or set off an “unprecedented financial crisis.” […]

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Russia demands $683,333 daily interest on Ukraine’s $3bn overdue debt

EU Times — Sun, 27 Mar 2016 17:03:40 +0000

Moscow wants Kiev to pay interest daily on its $3 billion defaulted bond, Bloomberg reports after viewing court documents. Ukraine failed to pay the debt on December 20 and the penalty fee has grown to about $66.3 million as of Friday. The Kremlin refused to take part in the $15 billion debt restructuring Ukraine reached […]

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Ukraine Officially Declares Default

EU Times — Fri, 18 Dec 2015 14:04:25 +0000

Ukrainian Prime Minister Arseny Yatsenyuk declared a moratorium on the payment of three-billion-dollar debt to Russia. The Cabinet of Ministers of Ukraine supported his decision. In addition, the official Kiev is not going to pay the debt of $507 million to Russian banks (the debt was amassed by two Ukrainian companies that collaborated with Russian […]

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Greece becomes first developed nation to default on international obligations

EU Times — Thu, 02 Jul 2015 10:49:48 +0000

The International Monetary Fund has confirmed that it didn’t receive the €1.6 billion payment from Athens that was due by the end of June 30, Brussels time, making Greece the first developed country to default on its international obligations. IMF spokesman Gerry Rice said in a statement that Greece had asked for a repayment extension […]

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Argentina economy not in default - Economy Minister

EU Times — Sat, 02 Aug 2014 12:25:27 +0000

Argentina’s Economy Minister Axel Kicillof says his country is not in default amid an ongoing debt row with US hedge funds. Ratings agency Fitch declared Argentina in “restrictive default” on Thursday after Buenos Aires failed to clinch a deal with representatives from the funds. Kicillof, however, said his country has not defaulted and that the […]

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Argentina placed into ‘default’ rating as debt deal deadline expires

EU Times — Wed, 30 Jul 2014 22:24:46 +0000

Argentina’s credit rating was downgraded to “selective default” by Standard & Poor’s as the South American country missed Wednesday’s deadline for a grace period during ongoing negotiations with holdout debt holders. Wednesday is the cutoff for Argentina to make good on a $539 million payment to bondholders, which was placed on hold by US judge […]

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Fitch Ratings downgrades Argentina on default concerns

EU Times — Wed, 28 Nov 2012 22:15:40 +0000

The Fitch ratings agency has downgraded Argentina five notches, saying the country could default on its obligations to US creditors. That’s after a US judge ordered Argentina to set aside $ 1.3bn for debt repayment by December 15. The rating agency cut its long-term rating for Argentina to “CC” from “B,” with the short-term rating […]

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EU-skeptic Ireland votes on austerity

EU Times — Fri, 01 Jun 2012 22:05:32 +0000

Ireland is voting in a referendum on an EU austerity pact. If Dublin does not accept tough budget deficit obligations, it would be a kiss goodbye to EU rescue money, which could be followed by default and a eurozone exit. The mooted European Fiscal Pact was initiated by Germany and France. If approved, it would […]

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EU stocks fall amid Greece default fears

EU Times — Mon, 19 Sep 2011 22:58:54 +0000

European stock markets have plunged once again amid fresh fears of Greece defaulting and more signs of economic weakness in the region. Frankfurt’s DAX 30 index fell by 3.20 percent, while in Paris the CAC 40 dived 2.73 percents on Monday, AFP reported. The London FTSE 100 index plunged 2.12 percent and markets in Madrid, […]

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