This is the acronym that funded part of the Ireland, Portugal and Greek bailout 2.
U.S. stock futures are slightly lower Thursday morning amid renewed uncertainty about the Greek bailout.
Built into the second Greek bailout, negotiated on 21 July, was a write-down by banks.
Euro finance ministers indicated a significant bondholder haircut would have to be part of a second Greek bailout.
The question arises because the first Greek bailout, 110bn euros, did not work.
The Greek bailout, as we saw, ended up being a lot more expensive than people thought at the time.
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In the Greek bailout, it was private bondholders who had to take a "haircut" - a slice out of their investment.
Even if the Greek bailout is finally agreed and private investors agree to take losses of more than 50%, doubts remain.
Officials struggled to explain the new Greek bailout and the bondholder losses.
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Syriza would cancel the Greek bailout agreements and presumably negotiate from scratch.
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Germany has said its involvement in the Greek bailout is predicated on either a FTT or other bank taxes to recoup the bailout funds.
Last week, eurozone leaders agreed a second Greek bailout worth 130bn euros, with banks agreeing to accept 50% losses on their holdings of Greek debt.
The notion that American taxpayers are about to subsidize another Greek bailout (via the Keystone Cops at the IMF) is way beyond economically foolish.
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The hoopla around the Greek bailout is just another can kicking.
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But Cyprus' banks held a lot of Greek debt and suffered significant losses when they took a writedown of those bonds as part of the Greek bailout.
Last week, eurozone leaders agreed a second Greek bailout worth 130bn euros as well as banks agreeing to take 50% losses on their holdings of Greek debt.
The first is about how the Greek bailout might not actually work even if the IMF and the ECB, Uncle Tom Cobbleigh and all sign up to it.
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It will be used to help with the second Greek bailout if that finally gets the go-ahead from the troika - the EU, the IMF and the ECB.
But the price will be a third Greek bailout on terms set by Francois Hollande, Jose Manuel Barroso and - if truth be told - the United States.
Wall Street is digesting a Greek bailout and slew of blue-chip earnings, including reports from Kraft Foods ( KFT), Wal-Mart ( WMT), and Home Depot (HD).
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First was the Greek bailout a year ago in May.
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The Greek bailout package has already been renegotiated twice, most recently in March of this year, to address deteriorating economic fundamentals and to force private bondholders to take losses.
Thanks to a very wrongheaded initial bailout of Greece months ago, the signal to other listing governments was that a Greek bailout meant that every government would enjoy similar treatment.
The deal was was postponed from Nov. 2 after Papandreou threatened to call a national referendum on the Greek bailout, and priced at higher interest rates than the prior EFSF offering in June, 3.591%.
The IMF had been resisting the payments until there was an agreement on a new bailout package until Thursday, amid a general debate with German authorities as to who would fund a new Greek bailout.
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Staff at the Washington-based institution are seen as bruised from having signed off on the initial Greek bailout deal in 2010 and are determined not to put their name to another accord that balloons a country's debt to levels unlikely to be repaid.
Clearly, the mere possibility of backtracking on the fiscal compact and the newly minted Greek bailout increases the volatility of the European Debt Crisis and introduces more roadblocks on the path towards fiscal union, which will not be well received in Brussels.
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Yes, the Greek bailout happened.
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The euro zone doesn't like the idea of having to pay for a Greek bailout, but it would rather that have an entity from outside Europe, like the International Monetary Fund or the U.S, , enter the fray and tarnish the credibility of the European Union and the euro.
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