After Greek Default, Spain And Portugal Pose Major Risk

Markets have begun digesting Greece’s managed default, with the Hellenic Republic’s new bonds trading at distressed levels.

Greece Deal Triggers $3B in Default Swaps: ISDA

A committee of credit-default swaps traders will expedite an auction to settle about $3 billion of contracts tied to Greece after the nation took steps to force investors to participate in the biggest sovereign-debt restructuring in history.

Greek bailout gives Europe time to build defenses

WASHINGTON: Greece got the rescue. But it's the rest of Europe that's breathing easier. A $172 billion ((euro) 130 billion) bailout isn't likely to keep Greece from eventually defaulting on its debts and abandoning the euro, many economists say.

Analysis: Question of balance as euro zone crisis mutates

LONDON (Reuters) - With Greece's second bailout seemingly in the bag at last, Spain is shaping up as the next big test of whether euro zone policymakers can keep striking the right balance between carrot and stick to reconcile the very different interests of lenders, debtors and markets.

European Stocks Gain Before Greek Debt-Swap Deadline; EADS Rises on Payout

European stocks rose for a second day as Japan’s economy shrank less than the government initially estimated and a deadline on Greece’s debt swap approached. Asian shares and U.S. index futures gained.