David Walker, ex- comptroller general and head of the Comeback America Initiative, said the time left for the United States to reach similar debt levels as those of Greece was just a few years. In the past 2 years, Greece has roughly failed to pay its debt 2 times, with the ratio of its debt [...]

Moody’s Investors Service slashed the credit rating of Greece by three steps, saying that bailout provided to the debt-laden nation by EU (European Union) will result in significant losses for the investors and ultimately a default. Long-term foreign currency debt of Greece was relegated to Ca from Caa1and this was their second lowest rating, as [...]

Next week may see the US dollar plummeting on concern that the US may no more be able to pride itself on the AAA credit rating that it used to enjoy earlier with the politicians still being indecisive on an agreement on raising the cap on debt ceiling. Now that the second rescue operation for [...]

10 years longer work duration for the Americans than they had thought, if they want to get rid of the US debt heap, has been reported by a former advisor to the Bush administration. If someone questions whether or not the US would fall into a technical default, the answer would be yes, it is [...]

Friday saw the approval of somewhat more than $4.2 billion for Greece by the International Monetary Fund, the most recent installment of a rescue package which targets assisting the country recover from an imminent debt default. It was an expected move of the executive board, especially after the decision of the finance ministers in the Euro [...]

Tuesday saw the announcement of the total annual compensation of Christine Lagarde, the next head of the International Monetary Fund, as $550,000 p.a., as per the organization. The after-tax salary of France’s former finance minister ;amounts to $467,940, in addition to an annual allowance for living expenses amounting to $83,760, as revealed by the IMF. [...]

Lately, the problems relating to the deficits and national debt of the United States have been difficult to ignore with the Greek imbroglio acting as a top-up. The papers are filled with pictures of burning Athens streets and stories covering fiscal austerity. In such situations a comparison between the two becomes so very natural, however [...]

The chance of a declaration of the debt crisis by Greece, reinforced by the approval of Greek lawmakers to a comprehensive austerity plan, has pushed investor spirits. After seeing a drop for most part of the previous two months, the reason partially being concern for Europe’s debt troubles, every day of the previous week saw [...]

Senior International Monetary Fund officials cautioned Wednesday that though the experience of the U.S. banking system with the Greek sovereign negative Bop (Balance of Payment) resulting in a crisis is comparatively modest, but if it grips core European banks, the mutual funds in the U.S. money market might have to take a slap. Gian Maria [...]

In the department of reverberations-of-2008, the World Bank has lately appointed an ex- Lehman Brothers risk manager for running its finances. As a proposal to reduce poverty, the bank which performs the function of lending money to developing countries, said that the responsibility for maintenance of high repute of the World Bank in financial markets would [...]