Austerity vote rallies Greek masses on strike day two
Day two of protests in Greece have seen demonstrators march to Parliament against austerity measures required by the IMF and the European Union.
Greece
Greece shuts down on first day of strike
Day one of Greece’s two-day strike that threatened to be the largest in years has grounded flights, disrupted public transport and shut down schools.
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Spain downgrade weighs down eurozone leaders
A double-notch downgrade of Spain’s credit rating has piled pressure on Europe’s leaders to make progress on solving the region’s debt crisis.
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Markets edgy over EU debt crisis resolution
Scepticism over Europe’s ability to deliver a proper solution to its debt troubles and a warning from Moody’s weighed on world market sentiment.
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Eurozone faces ‘most critical’ debt crisis week
The eurozone and Greece face their "most critical week" as they battle to reach a solution to the debt crisis, says George Papandreou.
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Lenders give lukewarm approval to Greek aid tranche
Troika inspectors gave a lukewarm approval for a vital aid tranche to Greece, saying Athens was lagging on reforms needed to exit its debt crisis.
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Greece: Lehman Brothers 2.0
Welcome to the new normal. Billions of pounds were wiped off the value of shares in London on October 4.
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Greek crisis could spark exodus like WWII aftermath
Many Greeks, their lives ravaged by the debt crisis, are thinking of emigrating like hundreds of thousands who left for foreign shores after WWII.
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IMF ‘confident’ blocked Greece loan will be released
The IMF says it’s "confident" of its talks with Greece on plans to trim its deficit that will lead to the release €8-billion in bailout funds
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Stocks take another dive on Greek default fears
Stocks slid again as Europe struggled to contain a debt crisis in Greece that is threatening to plunge the continent back into recession.
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Greek deficit target miss haunts European shares
Greece’s admission that it will miss its deficit targets for 2011 and 2012 hit European shares, with banking stocks among the worst performers.
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Austria confident of Greek bailout
Austria’s finance minister says Greece will more likely than not receive the next tranche of bailout cash it needs to stave off bankruptcy.
State jobs could be cut during Greek loan talks
Greek officials have held talks with EU and IMF negotiators to free up urgently needed bailout loans.
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Let them drink ouzo
King Mswati III is unhappy that Greece is being bailed out by the IMF, not Swaziland.
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Greece sharpens austerity as IMF warns on banks
Greece has adopted more austerity measures to secure a bailout instalment, and the IMF warned Europe’s debt crisis is putting banks’ capital at risk.
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Our efforts are undermined, says Greece minister
Stavros Lambrinidis says Greece’s fiscal adjustments made since revealing its debt and deficits two years ago were being undermined by stereotypes.
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SA investors fret over eurozone, US crises
A rising concern among SA investors is the growing tension between the members of the eurozone — many of whom are major trading partners.
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Greece pressed to shrink state and avoid default
International lenders told Greece it must shrink its public sector to avoid running out of money within weeks as investors dumped eurozone assets.
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Stocks, euro tumble as default fears mount
World stocks and the euro fell sharply as investors feared a messy Greek default within weeks unless Athens implements the austerity measures demanded
You can check out, but can never leave
The cost of insuring against default on sovereign Greek bonds has continued to rise and calculations now predict a 98% chance of default.
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Asian stocks rebound on Europe’s debt hopes
Asian stocks bounced after tentative steps by eurozone policymakers to tackle a crippling debt crisis, but investors remained wary.
Mswati accuses IMF, World Bank of double standards
King Mswati III says the International Monetary Fund and the World Bank must come to Swaziland’s rescue, just as they did for Greece and Portugal.
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Investors anticipate a European recession
Investors expect Europe to fall into recession in the next 12 months, according to the BofA Merrill Lynch Survey of Fund Managers for September.
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Obama urges eurozone leaders to act on crisis
The eurozone’s leaders need to show markets they are taking responsibility for its debt crisis, says US President Barack Obama.
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Banks suffer under Greek default fears
Mounting fears over the possibility of a Greek debt default and signs of division within Europe’s policymaking circles sent bank stocks sharply lower.
Germany’s ConCourt to rule on Europe’s rescue fund
Germany’s top court will decide on the legality of Europe’s rescue fund in a landmark ruling with major implications for future aid.
Greece denies split with auditors amid funding fears
Finance Minister Evangelos Venizelos insists there is no rift with EU and IMF auditors, who say Greece failed to meet conditions to unlock funding.
Greece turns the tide on fire threat
Hundreds of fire-fighters held back wildfires on several fronts around Greece after an all-night struggle.
Pressure eases off eurozone debt fears
Financial market pressure on the euro zone eased a little this week as Italy’s borrowing costs fell and bank shares stabilised.
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No bond swaps without 90% participation, says Greece
Greece says it will only go ahead with a bond swap plan, a critical part of its second bailout, if at least 90% of private creditors participate.
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Greek deal to put country in default
Greece will be ruled in default on its debt as a result of a new eurozone plan, Fitch ratings agency said on Friday.
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European debt crisis is at a perilous juncture
The country in the firing line is Italy, which accounts for 20% of the eurozone’s output, as opposed to Greece’s 3%.
