Argentina, holdout creditors reach $4.6 bln agreement

Argentina and its main holdout creditors have reached a $4.653 billion agreement in principle to settle a 15-year-old sovereign debt default dispute, a deal that could help the country to return to international capital markets and revive its economy.

Greece told to accept debt deal or 'head towards default'

European Council President Donald Tusk told Greece to accept a debt deal with its international creditors or face defaulting.
An emergency summit will be held on on Monday to address Athens' future in the eurozone.

IMF breaks off negotiations with Greece over debt deal. Bundesbank president warns over rising insolvency risk

The International Monetary Fund has dramatically raised the stakes in Greece's stalled debt talks, announcing that its delegation had broken off negotiations in Brussels and flown home because of major differences with Athens.

Argentina defaults as "vulture talks" fail

Argentina was in default Thursday for the second time in 13 years after the failure of last-ditch talks with US hedge funds it has branded "vultures."

After hours of meetings Wednesday in New York, Economy Minister Axel Kicillof emerged to confirm that no deal had been reached, leaving Latin America's third largest economy unable to meet repayment obligations by the midnight deadline.

"Unfortunately, no agreement was reached and the Republic of Argentina will imminently be in default," said Daniel Pollack, the lawyer appointed by a US court to oversee the talks.

Gas supplies may be affected, Putin warns Europe. -- Russia may begin requiring advance payment for natural gas from Ukraine

President Vladimir Putin on Thursday sent a letter to EU leaders, expressing his "extreme concern" over Ukraine's debt for Russian gas and warning them that supplies to Europe may be affected, his spokesman said.

"Indeed, such a letter signed by Putin was today delivered to heads of state of Eastern and Western Europe through diplomatic channels," Putin's spokesman Dmitry Peskov told the state RIA Novosti news agency.

"Putin expresses extreme concern over the critical situation around Ukraine's debt and supplies of Russian gas related to it," Peskov said.