Money Snatchers

Greece raised the stakes on Thursday in its quest for EU help to tackle its debt crisis, warning it cannot achieve promised deficit cuts if its borrowing costs remain so high and may have to call in the IMF.

Partly-nationalised Royal Bank of Scotland is planning a major debt restructuring, the Financial Times reported on Tuesday.

March 14 — European Central Bank council member Ewald Nowotny said that some euro-region governments may face a “debt spiral” if they don’t starting cutting their budget deficits next year.

The debt has implications for savers and investors:

Government debt is growing, as is the deficit. The economy is struggling to get out of recession and there is talk of spending cuts or higher taxes

Centerline Capital Group said Monday it has completed a series of deals that allows the real estate asset management firm to substantially restructure its outstanding debt.

Greek Prime Minister George Papandreou confronted more anti-austerity protests Thursday and tested international support for his battle against debt with a new multi-billion-euro bond.

Greece’s debt agency announced Thursday that it would issue 8 billion euros in five-year bonds a day after its government announced new austerity measures worth 4.8 billion euros to battle its rampant deficit.

The Crow Creek Sioux Tribe has settled its tax debt with the IRS and lined up a loan that will enable it to buy back the 11 square miles of land the IRS sold at auction in December, the tribal chairman said.

China remained the top holder in the ballooning US debt last year, revised data showed, after earlier indications it had been eclipsed by Japan drew speculation about Beijing’s motives.