IMF believes Greece needs debt relief far beyond EU plans

Business Jul 15, 2015

IMF believes Greece needs debt relief far beyond EU plans

Greece will need far bigger debt relief than euro zone partners have been prepared to envisage so far due to the devastation of its economy and banks in the last two weeks, says a confidential study by the International Monetary Fund seen by reporters. The ...

Greece surrenders much of its sovereignty to avoid euro exit

Business / Economy 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 talks ...

Eurozone members strive to keep Greece in fold

World 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 Alexis ...

Business | ANALYSIS 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 doubts ...

China stocks nosedive as regulator warns of 'panic'

Business 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 more ...

Greeks deeply divided heading into crucial vote

Business / Economy Jul 4, 2015

Greeks deeply divided heading into crucial vote

Tens of thousands of Greeks took to the streets on Friday in rival rallies that laid bare the deep divide heading into a referendum that may decide the country's future in Europe's single currency. Prime Minister Alexis Tsipras, elected in January on a promise to ...