Greece surrenders much of its sovereignty to avoid euro exit

Jul 13, 2015

Greece surrenders much of its sovereignty to avoid euro exit

Eurozone leaders made Greece surrender much of its sovereignty to outside supervision Monday in return for agreeing to talks on an €86 billion bailout to keep the near-bankrupt country in the single currency. The terms imposed by international lenders led by Germany in all-night ...

Disagreements emerge among Greece's European creditors

Jul 12, 2015

Disagreements emerge among Greece's European creditors

Skeptical European creditors raced Sunday to narrow differences both among themselves and with Athens, aiming to come up with a tentative agreement to stave off an immediate financial collapse in Greece that would reverberate across the continent. Facing a self-imposed Sunday deadline, the European ...

Eurozone members strive to keep Greece in fold

Jul 12, 2015

Eurozone members strive to keep Greece in fold

Eurozone leaders will fight to the finish to keep near-bankrupt Greece in the eurozone Sunday after the European Union’s chairman canceled a planned summit of all 28 EU leaders that would have been needed in case of a “Grexit.” In return, leftist Prime Minister ...

Greek lawmakers back bailout reform plan

Jul 11, 2015

Greek lawmakers back bailout reform plan

Greece’s parliament backed the government’s reform plan to win a third bailout early Saturday, but with the government suffering significant losses from lawmakers dissenting over the plan’s austerity measures. The motion, which sought to authorize the government to use the proposal as a basis ...

| Jul 10, 2015

Orderly 'Grexit' poses a puzzle for lawyers

A “Grexit” on Sunday? Not so fast, say the lawyers. Even if creditors pull the plug, Greece will remain legally part of the eurozone on Monday. It could hang on in a half-out, half-in state indefinitely, creating legal murk for businesses and adding to ...

How Greece might switch back to the drachma

Jul 9, 2015

How Greece might switch back to the drachma

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With each day, the likelihood is growing that Greece’s financial catastrophe will force it out of the euro currency alliance and compel it to restore its old currency, the drachma. It won’t be simple. Even in a computer age, issuing a new national currency ...

Greek crisis poses major security risk for Europe

| Jul 9, 2015

Greek crisis poses major security risk for Europe

As a key security partner for the West and the prime route for migrants arriving in Europe, Greece poses a threat to more than the financial stability of the continent if its crisis deepens. All eyes this week are on whether Athens will finally ...

Greek crisis revives Polish debate over joining the euro

Jul 9, 2015

Greek crisis revives Polish debate over joining the euro

The possibility of a Greek exit from the euro is reviving debate in Poland about the wisdom of signing on to the joint currency, so much so that Poland’s president warned this week that his country risks becoming a political lightweight if it sticks ...

China stocks nosedive as regulator warns of 'panic'

Jul 8, 2015

China stocks nosedive as regulator warns of 'panic'

Chinese stocks dived on Wednesday, as the country’s securities regulator warned investors were in the grip of “panic sentiment” and the market showed signs of freezing up as companies scrambled to escape the rout by having their shares suspended. Beijing, which has struggled for ...

Jul 7, 2015

Poor EU nations take hard-line on Greece

The eurozone’s poorer former communist nations, having themselves endured painful reforms and austerity programs, are taking a hard line on Greece after its people voted to reject creditors’ bailout terms. Estonia, Latvia, Lithuania and Slovakia have long insisted they are too poor to pay ...