Tag: Greece

• Tuesday, October 4th 2011 - 19:55 UTC

  Euro banks holders of Greek debt told to prepare for a further ‘shave’

  

  European finance ministers are considering making banks take bigger losses on Greek debt and have postponed a vital aid payment to Athens until mid-November, setting up a crunch point in the Euro zone's sovereign debt crisis.

• Wednesday, September 28th 2011 - 01:17 UTC

  Germany promises help to rebuild confidence in debt-stricken Greece

  

  Germany will do all it can to rebuild confidence in debt-stricken Greece as it implements reforms to meet the conditions of its international bailout package, Chancellor Angela Merkel said on Tuesday.

• Monday, September 26th 2011 - 17:15 UTC

  Greek minister denies talks with IMF and EXB for an “orderly default”

  

  Greek Finance Minister Evangelos Venizelos dismissed reports that he has discussed a scenario of an orderly default by Athens with International Monetary Fund Chief Christine Lagarde and European Central Bank head Jean-Claude Trichet.

• Wednesday, September 21st 2011 - 02:10 UTC

  Roubini suggests Greece default on its debts and follow Argentina’s 2001 example

  

  The economist who predicted the credit crunch and financial crisis has recommended that Greece leave the Euro, default on its debts and return to the drachma.

• Monday, September 19th 2011 - 16:31 UTC

  IMF/EU/ECB tell Greece to shrink public sector, otherwise expect no check

  

  International lenders told Greece it must shrink its public sector and improve tax collection to avoid default within weeks as investors spooked by political setbacks in Europe dumped risky Euro zone assets.

• Monday, September 19th 2011 - 06:31 UTC

  Greece hangs from the cliff while EU leaders can’t agree on rescue or default

  

  Greece’s ability to avoid default hangs in the balance this week as international monitors get set to assess whether Prime Minister George Papandreou can meet the conditions of rescue loans.

• Thursday, September 15th 2011 - 19:02 UTC

  IMF calls for joint political leadership to break vicious circle of weak growth

  

  The head of the International Monetary Fund today urged advanced countries to take bold, coordinated action to break a vicious cycle of weak growth and high debt that threatens the global economy and has been worsened by dysfunctional politics.

• Tuesday, September 13th 2011 - 07:26 UTC

  Fears of a Greek default spread uncertainty to world markets

  

  United States shares staged a late recovery on Monday to post only their second positive close of the month. Earlier, European and Asian markets fell on fears that Greece may default. In Latin America results were much in line with the US.

• Tuesday, September 13th 2011 - 07:23 UTC

  Germany debates “taboos” and possible “orderly insolvency” for Euro zone crisis

  

  German Chancellor Angela Merkel said on Tuesday there were generally no taboos in politics but that the Euro zone crisis would not have a mechanism for ‘orderly insolvency’ of one of its members until its permanent rescue mechanism comes into power in 2013.

• Saturday, September 10th 2011 - 06:04 UTC

  Germany prepares to support banks exposed to a possible Greek default

  

  Germany’s Chancellor Angela Merkel government is preparing plans to shore up German banks in the event that Greece fails to meet the terms of its aid package and defaults, three coalition officials said.