Greece has $11.3 billion in bonds come due next month and borrowing costs are surging. There's no way to roll over the debt coming due. There will be an EU-IMF bailout, or there will be a sovereign debt default. . Euro-region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency's 11-year history from spreading through the rest of the bloc. The first payment will be made before

Sovereign debt default will not end as a story until the USTreasurys and UKGilts default, even if technical defaults. All four PIGS nations will be removed from formal Euro currency participation. Economics and nationalism dictate it. . In their formal announcement, Fitch stated belief that the unemployment rate in Spain over 20%, along with the reversal of fortune tied to the construction boom, will weigh heavily on their economy struggling under extremely high debt

After Fitch downgraded Spain's long term foreign and local currency issue default ratings from “AAA” to “AA+” on Friday, May 28th, Hungary added additional weight onto the euro the following Friday. Prime Minister Orban said that talks of a As a result, credit default swaps on sovereign bonds rallied to a record amid speculation that Europe's debt crisis will worsen after Hungary stated that the region is in a “very grave situation.” However, it is noteworthy that

After months of blaring reports on the Greek sovereign debt crisis, and the imploding Euro, suddenly, we are told that the situation is stabilized? But how? What measures were taken and how did they affect a balancing of the EU economy?

Note how rapidly credit default spreads are widening. Greece's CPD (Cumulative Probability of Default) is already conservatively estimated at close to 50%, and it would spark a wave of sovereign defaults as all PIIGS get cut off from bond markets. About 70 percent of Greek debt is estimated to be held by foreigners, most of them within the euro zone, notably German and French financial institutions. European Union officials will try to avoid an outright default.

Although many investors fear European policymakers will stop short of testing the banks over the possibilities of a Greek or sovereign default, they warn that this is becoming an issue, particularly in France. People close to the tests

Brian Coulton, managing director and head of Europe, Middle East and Africa sovereigns at Fitch Ratings, said it was possible to have a sovereign default within the euro currency bloc, but that would not necessarily mean the break up of

Fitch ratings has rekindled fears of a sovereign default within the EU bloc. According to Brian Coulton, Fitch's head of Europe, Middle East and Africa.

We already know that the eurozone money markets seized up violently in early May as incipient bank runs spread from Greece to Portugal and Spain, threatening the first big sovereign default of our era. By Ambrose Evans-Pritchard

The Euro has ceded all of its earlier gains Friday (May 28th) once the news broke of the Fitch credit rating downgrade to Spain, after which the euro fell roughly 0.8% to $1.227. “ However, the news that Hungary is a sovereign default