Dec 25, 2016

Eurozone clears way to resume debt relief for Greece

Eurogroup head Jeroen Dijsselbloem on Saturday said Greece had cleared up doubts and could expect a positive decision on debt relief, defusing a row over surprise handouts announced by Athens. "Happy to conclude that we have cleared the way for ESM to go ahead with ...

Nov 27, 2015

Is Portugal about to go down the same road as Greece?

An anti-austerity alliance including radical leftist parties takes power. A shaky economy and huge debts menace the national economy. The rest of Europe watches with a wary eye. Sound familiar? This is not Greece, but another eurozone country: Portugal. A nation that just months ago was ...

Aug 15, 2015

Greece's euro partners approve billions in new loans

Finance ministers of the 19-nation euro currency group on Friday approved the first €26 billion ($29 billion) of a vast new bailout package to help rebuild Greece's shattered economy. The approval came after Greece's parliament passed a slew of painful reforms and spending cuts after ...

Greece clears final reform hurdle before new bailout talks

Jul 23, 2015

Greece clears final reform hurdle before new bailout talks

Greece's radical left-led government saw off another revolt by rebels in the early hours of Thursday that should pave the way for the imminent start of bailout discussions with European creditors. The reforms to the judiciary and banking systems were the final hurdle the country ...

Jul 19, 2015

Greek banks to reopen Monday but cash restrictions remain

Greek banks were to reopen Monday after a forced 3-week closure but restrictions on cash withdrawals will remain. In a decree Saturday, the Greek government kept the daily cash withdrawal limit at 60 euros ($65) but added a weekly limit. For example, a depositor who ...

IMF believes Greece needs debt relief far beyond EU plans

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

/ 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 ...

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 nations ...

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 Alexis ...