Latest Greek Crisis News

  • Wall Street drops as tech shares sell off; U.S. bonds jump
    Wall Street drops as tech shares sell off; U.S. bonds jump Thu, Apr 10, 2014

    By Michael Connor NEW YORK (Reuters) - Wall Street stocks tumbled on Thursday as investors exited technology and biotech shares, extending recent weakness and knocking the Nasdaq down by more than 3 percent. The technology-heavy Nasdaq stock index posted its worst single-day drop since 2011, and yields on the benchmark 10-year U.S. Treasury note fell to their lowest since February 27 as investors sought shelter in government debt. Across the Atlantic, Greece returned to world credit markets for the first time since its financial crisis by selling junk-rated bonds to global investors chasing fat yields. After a broad rally on Wednesday, U.S. tech shares led the way lower on Thursday as investors questioned whether high-flying momentum stocks such as TripAdvisor are overvalued. More »

  • Greece returns to bond markets with a bang
    Greece returns to bond markets with a bang Thu, Apr 10, 2014

    Buoyant Greek officials hailed the country's return to the international debt market after four years as an overwhelming success Thursday, with investors snapping up the five-year bond in a sale that was ... More »

  • Greece ends market exile with triumphant bond auction
    Greece ends market exile with triumphant bond auction Thu, Apr 10, 2014

    Shareholders enter the Bank of Greece headquarters in Athens as Bank of Greece governor delivers his annual report on the state of the economy on February 25, 2013 More »

  • Athens Bomb Fails To Dent Greek Bond Sale
    Athens Bomb Fails To Dent Greek Bond Sale Thu, Apr 10, 2014

    A bomb blast outside a Bank of Greece building preceded the debt sale. The Greek deputy prime minister Evangelos Venizelos said it was over eight-times oversubscribed. More »

  • Greece bounces back to bond market with 3.0-bn debt sale
    Greece bounces back to bond market with 3.0-bn debt sale Thu, Apr 10, 2014

    Shareholders enter the Bank of Greece headquarters in Athens as Bank of Greece governor delivers his annual report on the state of the economy on February 25, 2013 More »

  • Greece: strong demand for first bond in 4 years
    Greece: strong demand for first bond in 4 years Thu, Apr 10, 2014

    ATHENS, Greece (AP) — Buoyant Greek officials hailed the country's first bond sale in four years as an overwhelming success, with the auction more than eight times oversubscribed and garnering a lower interest rate than expected. More »

  • Greece: strong demand for 1st bond in 4 years
    Greece: strong demand for 1st bond in 4 years Thu, Apr 10, 2014

    Buoyant Greek officials said the government had received strong interest for its first bond issue in four years, with Thursday's auction of five-year debt being about eight times oversubscribed — a sign ... More »

  • Greek milestone bond sale a 'huge success', deputy PM says
    Greek milestone bond sale a 'huge success', deputy PM says Thu, Apr 10, 2014

    Shareholders enter the Bank of Greece headquarters in Athens as Bank of Greece governor delivers his annual report on the state of the economy on February 25, 2013 More »

  • Russia cannot afford 'collapsing state' in its backyard
    Russia cannot afford 'collapsing state' in its backyard Sat, Apr 5, 2014

    Europe issued fresh calls Saturday for dialogue with Russia over Ukraine, warning Moscow it faces having a failed state in its backyard just as it tightens the economic noose on Kiev. More »

  • UK asks EU to prepare more sanctions options Fri, Apr 4, 2014

    ATHENS, Greece (AP) — Britain's foreign secretary on Friday urged European Union partners to develop possible further sanctions against Russia "if they become necessary," while the top Russian diplomat ridiculed Ukraine's interim government as a Western puppet. More »

  • Hague: EU must ready tougher Russia sanctions
    Hague: EU must ready tougher Russia sanctions Fri, Apr 4, 2014

    ATHENS, Greece (AP) — The European Union must have stronger sanctions ready to impose against Russia if they "become necessary," British Foreign Secretary William Hague said Friday, as he arrived for a meeting of EU foreign ministers in Athens. More »

  • Greek PM's aide quits over purported Golden Dawn video Wed, Apr 2, 2014

    A senior aide to Greece's prime minister resigned on Wednesday after the far-right Golden Dawn party said a video showed him suggesting the government had tried to press judges to jail its members. Government Secretary General Takis Baltakos did not refer directly to the comments he was reported to have made in the video, but said he was stepping down because of the furore caused by the video released online and shown on television. Police and magistrates have been investigating charges that Golden Dawn, its members and supporters were involved in a series of violent attacks, including the killing of a left-wing rapper in September. Golden Dawn's leader and other senior members have been detained pending trial on charges of belonging to a criminal organisation. More »

  • Greek PM's top aide quits over Golden Dawn remarks Wed, Apr 2, 2014

    ATHENS, Greece (AP) — A top aide to Greece's conservative Prime Minister Antonis Samaras resigned Wednesday over a video in which he appeared to accuse Samaras of influencing a criminal investigation into a Nazi-inspired party to gain votes. More »

  • Protests Break Out in Athens During Greek Bailout Meeting
    Protests Break Out in Athens During Greek Bailout Meeting Wed, Apr 2, 2014

    Despite a ban on protests during the meeting of European Union finance ministers in Greece, anti-austerity protesters staged three separate demonstrations in Athens. More »

  • Greeks Claim Germany Owes €162bn in Nazi Reparations as Austerity Measures  …
    Greeks Claim Germany Owes €162bn in Nazi Reparations as Austerity Measures  … Wed, Apr 2, 2014

    Greeks are claiming that Germany still owes billions of euros in reparations for crimes committed under the Nazi regime during World War II - as the country reacts to a long haul of austerity measures.   Campaigners have taken to the streets, lashing out at the financial authority imposed by Germany and the Troika, comprising the European Union (EU), International Monetary Fund (IMF) and European Central Bank (ECB). Greece has been subjected to a programme of austerity measures in return for billions of euros in bailout funds. However, Aristomenis Syngelakis is leading a campaign to get Germany to "pay back" €162bn (£134bn, $223bn) to compensate for hundreds of villages destroyed by the Nazis and the killing of thousands of citizens between 1941 and 1944. More »

  • Greek Parliament passes omnibus reform bill
    Greek Parliament passes omnibus reform bill Mon, Mar 31, 2014

    The Greek Parliament passed an omnibus reform bill early Monday containing the latest measures agreed upon between Greece and international lenders, with the slim government majority holding despite suffering ... More »

  • Greek parliament passes reform bill
    Greek parliament passes reform bill Sun, Mar 30, 2014

    The Greek Parliament passed an omnibus reform bill early Monday containing the latest measures agreed upon between Greece and international lenders, with the slim government majority holding despite suffering ... More »

  • Greek MPs adopt controversial bill tied to EU-IMF loans
    Greek MPs adopt controversial bill tied to EU-IMF loans Sun, Mar 30, 2014

    People demonstrate outside the parliament in Athens on March 30, 2014 More »

  • Greek market overhaul angers retailers, opposition
    Greek market overhaul angers retailers, opposition Fri, Mar 28, 2014

    Greek associations of bakers, pharmacies, booksellers, and milk farmers expressed angry opposition to plans to overhaul trading rules, fearing they will wipe out independent stores and producers — as unions ... More »

  • Greece: Market overhaul as retailers furious
    Greece: Market overhaul as retailers furious Fri, Mar 28, 2014

    ATHENS, Greece (AP) — Greek associations of bakers, pharmacies, booksellers, and milk farmers expressed angry opposition to a proposed reform that would overhaul trading rules and, they fear, wipe out independent stores and producers. More »

  • Euro zone not preparing third Greek bailout so far - official
    Euro zone not preparing third Greek bailout so far - official Fri, Mar 28, 2014

    By Jan Strupczewski and Martin Santa BRUSSELS (Reuters) - The euro zone is not making any preparations for a third bailout for Greece and will consider it only if expressly asked by Athens, which has not happened so far, a senior euro zone official said on Thursday. Instead, the euro zone is now focusing on the timing and size of disbursements of badly delayed tranches of loans that have already been promised under the first two rescue packages, the official, directly involved in the Greek bailouts said. Euro zone countries have come up with aid of 240 billion euros for Greece to help it reform and put its public finances back in order after since the country was cut off from markets in 2010 because its public finances have spun out of control. The second euro zone bailout programme for Greece expires at the end of this year. More »

  • Greece to break 'encirclement' by creditors, president says
    Greece to break 'encirclement' by creditors, president says Tue, Mar 25, 2014

    Greek President Karolos Papoulias attends a press conference on September 16, 2013 at the Slovakian Presidential Palace in Bratislava after an official meeting with the Slovakian President More »

  • Milk row threatens to sour Greece's latest bailout deal
    Milk row threatens to sour Greece's latest bailout deal Mon, Mar 24, 2014

    By Karolina Tagaris ATHENS (Reuters) - Greece's government risks another rebellion over bailout terms this week after milk producers lobbied against a move to free up prices as part of efforts to make the economy more competitive. But Greek dairy producers and lawmakers representing farming constituencies are fighting the move to call milk up to 11 days old 'fresh' - the latest in a long line of last-minute disruptions to Greece's bailout reviews with the European Union and International Monetary Fund. Six lawmakers from within the ruling coalition - three from Prime Minister Antonis Samaras's New Democracy party and three from the Socialist PASOK - have opposed the proposal that will be submitted to parliament on Friday as part of an omnibus reform bill that Greece must pass to secure bailout aid. More »

  • IMF too optimistic on growth before big bailouts - auditor
    IMF too optimistic on growth before big bailouts - auditor Tue, Mar 18, 2014

    The International Monetary Fund tended to offer overly rosy growth scenarios for countries that were lining up for big loans from the organization, independent auditors said on Tuesday. Optimistic forecasts could allow the IMF to lend billions of dollars to countries such as Greece and Ukraine while still letting the organization comply with its strict standards for debt sustainability, or targets for the ratio of debt to gross domestic product. "Short-term forecasts of GDP growth and inflation ... tended to be optimistic in high-profile cases characterized by exceptional access to IMF resources," the IMF's Independent Evaluation Office said in a report. The office analyzed the fund's economic forecasts from 2002 to 2011. More »

  • Greece seeks more time to shore up ailing banks
    Greece seeks more time to shore up ailing banks Thu, Mar 6, 2014

    A man walks past the Zappeion Mansion in Athens on December 26, 2013 More »

  • China policeman tells of shooting Kunming attackers
    China policeman tells of shooting Kunming attackers Tue, Mar 4, 2014

    Chinese state television on Tuesday broadcast an interview with a police officer said to have shot five knife-wielding thugs who killed and injured scores of people in a railway station attack in Kunming. More »

  • 'Greece, IMF disagree on bank tests'
    'Greece, IMF disagree on bank tests' Tue, Mar 4, 2014

    The governor of the Bank of Greece George Provopoulos speaks in Athens on February 27, 2014 More »

  • Greek PM lays out potential oil & gas windfall Wed, Feb 26, 2014

    ATHENS, Greece (AP) — Greece's prime minister says the cash-strapped country could earn up to 150 billion euros ($206 billion) in three decades from offshore oil and gas deposits. More »

  • Ukraine faces mammoth task to stave off financial ruin
    Ukraine faces mammoth task to stave off financial ruin Tue, Feb 25, 2014

    A street vendor sells tje flags of Ukraine and EU in Independence Square in Kiev on February 3, 2014 More »

  • EU-IMF creditors back in Greece for debt talks
    EU-IMF creditors back in Greece for debt talks Mon, Feb 24, 2014

    Farmers wave Greek flags during a protest against government tax policies in central Athens on February 19, 2014 More »

  • Greek minister calls for international conference on Ukraine Mon, Feb 24, 2014

    Greek Foreign Minister Evangelos Venizelos called on Monday for an international conference with the involvement of the European Union, Russia and financial institutions in order to avoid any disorderly default in Ukraine. Venizelos told a news conference in Budapest the first priority was the appointment of a new inclusive government in Ukraine with the capacity to protect stability and public order. "The second priority, this is my own proposal ... is to organize an international conference on the economic and financial problem of Ukraine in order to avoid any type of disorderly default," Venizelos said. More »

  • Greek PM says budget surplus tops forecast, allows spending
    Greek PM says budget surplus tops forecast, allows spending Sat, Feb 15, 2014

    Greece's primary budget surplus has exceeded expectations and will allow the government to boost social spending on austerity-hit citizens, Prime Minister Antonis Samaras told a newspaper. The primary budget surplus for 2013, which excludes interest payments and other one-off items, has come in at over 1.5 billion euros (1.2 billion pounds), much higher than initial estimates and targets set by the debt-laden country's international lenders, the European Union and the International Monetary Fund. "The primary budget surplus is much higher than we had initially estimated ... I am telling you now that it exceeds 1.5 billion euros, three times as big as we initially calculated," Samaras said in an interview published in Sunday's edition of To Vima, which hit newsstands on Saturday evening. More »

  • New GM corn gets controversial EU go-ahead
    New GM corn gets controversial EU go-ahead Wed, Feb 12, 2014

    A new genetically modified corn, US firm Pioneer's TC1507, won EU approval in controversial fashion Tuesday after a large majority of member states failed to block it. More »

  • Syrian chemicals no threat to Mediterranean: Greece
    Syrian chemicals no threat to Mediterranean: Greece Thu, Feb 6, 2014

    A planned international operation to destroy Syria's chemical arsenal at sea will pose no threat to the Mediterranean ecosystem, Greece's foreign minister told an EU conference on Thursday. More »

  • Greek rescue fund worried stress test delays may deter investors Thu, Feb 6, 2014

    By George Georgiopoulos ATHENS (Reuters) - Leaders of Greece's bank rescue fund are worried that lengthy talks with foreign creditors over a health check of the top four Greek banks may put off investors looking to take part in the privatisation of one of the country's biggest lenders. Uncertainty over what capital needs the four lenders may face is holding back the privatisation of No. 3 lender Eurobank that would be a vote of confidence for the battered sector and its prospects to return to private hands. The four banks are undergoing a second round of stress tests to check if last summer's 28-billion-euro (23.25 billion pounds) capital injection has equipped them to absorb future shocks as bad loans keep rising. But protracted talks with the "troika" of European Union, International Monetary Fund and European Central Bank inspectors have pushed back the outcome of the tests, which were expected early last month. More »