Last week, Moody’s cut Greece’s credit rating deeper into junk territory due to uncertainty over whether the country will be able to reach a deal with its international lenders in time to meet upcoming debt repayments. Today’s graphic lists the long-term sovereign debt ratings for some of the world’s major economies.
Reuters was first to report the market-moving submission by Greece of a loan extension request to the European Union. Reuters correspondent Renee Maltezou reported ahead of all Greek media and our competitors that Athens submitted the request for an extension, lifting the prospects that Greece will remain in the euro zone. Renee also reported that the Greek government had dismissed the option of capital controls to shore up bank outflows. In a Reuters Best: Journalist Spotlight Q&A, Renee offers a behind-the-scenes look at how she scored the exclusive.
Q. How did you score this exclusive? (more…)
The European Central Banks’s comprehensive assessment found the biggest problems in Italy, Cyprus and Greece, but concluded that banks’ capital holes had since been plugged, leaving only a modest 10 billion euros to be raised. Today’s graphic looks at the 25 banks that failed the ECB’s test, designed to mark a clean start before the organization takes on supervision of the banks next month.
2012 was a year of change and turmoil within the business and political arenas – from the ongoing sagas of the Eurozone crisis and Libor scandal, to the first year in the life of the world’s newest nation, South Sudan. Discover some of Reuters outstanding investigative journalism and coverage of international events that made the news.
Chesapeake energy series
For years, not even the largest shareholders of Chesapeake Energy Corp knew its CEO’s secrets. Aubrey K. McClendon, who had founded the nation’s second-largest natural gas producer and served as chairman and chief executive, had taken out more than $1 billion in personal loans in exchange for pledging his share of company wells. What’s more, he had been quietly operating a$200 million hedge fund from inside Chesapeake headquarters. Both matters were exposed in an extensive series of Special Reports and scoops. As a result, Chesapeake board members stripped McClendon of his chairmanship, the IRS and Securities and Exchange Commission opened inquiries, and the price of Chesapeake stock tumbled.
Reuters has led the Greek debt story this year with a series of major scoops and special reports. Our reporting exposed a series of conflicts of interest, interconnected loans and payoffs that had not been disclosed to investors, highlighted by auditors or investigated by regulators. Our coverage has been spoken about in the Greek parliament and formed the basis of debates on Greek television.
In a gripping four-part serial narrative, Reuters reconstructed the making of the so-called new face of terrorism – Colleen LaRose, the blonde-haired, green-eyed, American-born woman who went by the nickname Jihad Jane. Based on our months-long review of confidential investigative documents and interviews with sources in Europe and the United States — including the first and only interview with Jihad Jane herself – our series of Special Reports revealed a far less menacing and, in some ways, more preposterous undertaking than what the U.S. government asserted. Indeed, at almost every turn LaRose and her accomplices bungled their plot to kill the Swedish artist Lars Vilks, Reuters found. (more…)
Highlighting the economic crisis in Greece, and the effects it’s having on the population, members of the far-right party handed out boxes of milk to residents. The ongoing Greek debt crisis has continued its spread across the Euro Zone, with fears of a dissolution of the Zone at an all time high.