Russia sees a high probability that neighboring Ukraine will default. Standard & Poor’s says that outcome is likely. Even Ukraine’s acting president calls the country’s plight a “pre-default situation.”
Portugal’s two-year notes rose for a third day after the nation said yesterday it will buy back debt as it works toward exiting its bailout program, adding to evidence the euro area is putting the debt crisis behind it.
Finance Minister Pierre Moscovici denied he has sought more time to comply with European Union budget rules even as the European Commission said France is behind in reducing its budget shortfall and reviving competitiveness.
Italy’s next government should pursue growth policies to avoid debt cuts of as much as 50 billion euros ($68.6 billion) starting next year, Davide Serra, a hedge fund manager and supporter of designated Premier Matteo Renzi, said in an interview today.
Dutch Finance Minister Jeroen Dijsselbloem dashed Greek government hopes of gaining debt relief before European elections in late May, saying the euro area would likely wait until August to take up the matter.