ATHENS -- Of the €382 billion committed to save Greece -- through bailouts and debt write-downs since May 2010 -- less than half will actually go to Greece itself. More than €208bn will go to banks and other bondholders or be spent on facilitation.
By 2015, when all the tranches from the first and second bailout have been paid out, eurozone taxpayers will hold as much as 85% of Greece's current €350bn debt.
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LONDON -- On Sunday the Sun will grow dark as the Moon passes in front of it. This annular eclipse of the Sun is noteworthy for the potential size of its audience: China, Japan, the Pacific and western United States will be treated to the sight.
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NEW YORK -- Facebook’s initial public offering Friday has been increased from 337.4 million to 421 million shares at $34 to $38 apiece. The IPO price range makes Facebook the third-largest initial share sale in U.S. history after Visa and GM.
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THE HAGUE -- Bosnian Serb ex-army chief Ratko Mladic goes on trial Wednesday, accused of war crimes and crimes against humanity, including genocide, in his campaign of ethnic cleansing and the massacre of Muslims at Srebrenica.
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ATHENS -- The Acropolis Rally, based in Loutraki on the east coast of Greece’s Gulf of Corinth, is one of the most taxing on the WRC calendar with searing temperatures, rocky, undulating roads and dust posing a stern test for cars and drivers alike.
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CANNES -- The 2012 Cannes film festival will see rising stars competing against established Hollywood names, with Robert Pattinson, Zac Efron, Kristen Stewart and Shia LaBeouf all appearing in highly anticipated movies.
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LONDON -- After arriving in Cornwall at Royal Naval Air Station Culdrose, near Helston, this Friday evening, the 70-day trek begins on Saturday morning from Land's End to London. 8,000 people will carry the Olympic Flame as it journeys across the UK.
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CAPE CANAVERAL -- SpaceX is preparing to launch its unmanned Dragon capsule to the International Space Station on May 19. Dragon will ride into orbit atop the company's own Falcon 9 rocket from the Cape Canaveral Air Force Station in Florida.
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WASHINGTON -- The Obama-Romney contest is expected to be tight and nasty, with so-called super PACs spending hundreds of millions of dollars on a blitz of negative advertising to win the White House and control of Congress.
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SCHEDULE & DEALS
Greek bailout money flows to banks
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