Greece bailout

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Greece, Creditors Near Deal
 Greece, Creditors Near Deal 
Jan 29, 2012 6:34 AM CST

Greece, Creditors Near Deal

After long impasse, creditors lower demands, increasing bailout chances

(Newser) - After weeks of deadlocked talks , Greece again appears to be teetering toward a deal with its creditors, a key condition toward Greece getting its vitally needed $170 billion bailout, reports the New York Times . On top of a 50% loss already agreed to, creditors now appear willing to have interest...

Critical Greek Debt Talks Hit Impasse

Creditors, rescuers clash over rates, write-downs, and sweeteners

(Newser) - Greece is trying to cut about $129 billion from its gargantuan $350 billion debt, but as creditors and rescuers face off, the complex deal appears stuck and time is running out, reports the Wall Street Journal . With $19 billion in Greek debt coming due March 20, European authorities had hoped...

S&P Downgrades Eurozone Bailout Fund

Says it could return it to AAA if sacrifices are made

(Newser) - Rating agency Standard & Poor's says it has downgraded the creditworthiness of the eurozone's bailout fund by one notch to AA+. The downgrade, which follows ratings cuts for AAA-rated France and Austria , could hurt the European Financial Stability Facility's ability to raise cheap bailout money.

Get Ready for &#39;Eurogeddon&#39;
 Get Ready for 'Eurogeddon' 
OPINION
Nov 27, 2011 7:23 AM CST

Get Ready for 'Eurogeddon'

Jeremy Wagner warns of riots, 'biggest mass default in history'

(Newser) - With the euro crisis spreading even to mighty Germany last week—when investors ignored a bund auction and sovereign debt yields grew more expensive than the UK's—it is clear now that the euro crisis is not just about the debts of the poorer, peripheral countries like Greece and...

Greece Names New Cabinet
 Greece Names New Cabinet 
Nov 11, 2011 8:54 AM CST

Greece Names New Cabinet

Evangelos Venizelos keeps finance minister post

(Newser) - Greece's new cabinet has been named, with Evangelos Venizelos retaining the key position of finance minister. The new coalition government, formed today, includes ministers from the country's two main parties—the Socialists who have governed for the past two years, and the conservatives—along with some from a...

Papademos Named New Greek PM

Four days of talks finally lead to official decision

(Newser) - Greece has a new prime minister—presumably for real this time. The AP reports that Lucas Papademos, former VP at the European Central Bank, has been officially named the PM of the new interim coalition government. T he president's office made the announcement today, Reuters adds. Papademos had been...

Greek PM Deal Falls Through
Greek PM Deal Falls Through
Nov 10, 2011 2:50 AM CST

Greek PM Deal Falls Through

Former European Central Bank VP Papademos once again the top choice

(Newser) - So much for the new Greek prime minister: Yesterday’s deal with parliament speaker Filippos Petsalnikos fell through after more intra-party fighting, leading to a fourth day of meetings to determine a new coalition. Former European Central Bank VP Lucas Papademos is once again the top choice and is at...

Greece Settles on New PM
 Greece Settles on New PM 
Nov 9, 2011 12:20 PM CST

Greece Settles on New PM

Parliament speaker Filippos Petsalnikos will lead unity government

(Newser) - Greece has a new leader, as long as no last-minute obstacles pop up: parliament speaker Filippos Petsalnikos, who founded the ruling socialist PASOK party. Sources confirm that the parties settled on Petsalnikos to lead a unity government after three days of feuding. "We have agreed on Petsalnikos, but things...

Is This Man Greece's Next Leader?

Both parties look to Lucas Papademos to head unity government

(Newser) - With George Papandreou set to step down in favor of a unity government , officials from both parties have a new leader in mind: Lucas Papademos, former vice president of the European Central Bank. Many insiders see Papademos as an appropriate choice for compromise between the parties, but some remain skeptical....

Papandreou to Quit After New Govt Forms

'Everything will take its course' after he steps down, opposition says

(Newser) - Greek PM George Papandreou will step down as soon as a new coalition government is formed, CNN reports. As the Greek Cabinet met a second day today in a last-ditch effort to avoid bankruptcy, the government issued a statement saying the meeting would be the last presided over by the...

Tonight's the Night: Greek PM Braces for Vote

Prospects uncertain; adviser eyed as interim leader

(Newser) - Tonight's the night for George Papandreou, and things still look pretty dismal . Though lawmakers yesterday managed to arrive at an agreement on Europe’s bailout plan, the Greek PM's chances of emerging on top after this evening's confidence vote are slim, the Washington Post notes. His Socialist...

Papandreou to Resign: Sources
 Greek PM Resigning? Or Not?
UPDATED
Nov 3, 2011 8:46 AM CDT

Greek PM Resigning? Or Not?

Announcement will come in just minutes, according to BBC

(Newser) - George Papandreou will offer to resign within minutes, sources tell the BBC —which in a live blog also reports that he insists he is not resigning. The Greek PM scheduled an emergency Cabinet meeting after Finance Minister Evangelos Venizelos broke with him today, shrinking his majority to one ; the...

Chance of Greek PM Losing Confidence Vote: High

Meanwhile, the G20 wrestles with Greece mess

(Newser) - Things aren’t looking good for George Papandreou ahead of tomorrow’s confidence vote: The Greek prime minister has lost several key supporters over his shocking plan to put the EU bailout to a vote on Dec. 4—and now has a majority of just one, Reuters reports. Greece's...

Greek Cabinet Green Lights Referendum Plan

Vote could happen as soon as December

(Newser) - After a seven-hour meeting, Greece’s Cabinet voted unanimously last night to endorse PM George Papandreou’s surprise call for a national referendum on Europe’s bailout plan for the country. The vote “will take place as soon as possible, right after the basics of the bailout deal are...

Greece Leader Faces Revolt on Bailout Mess

George Papandreou struggling to hold his own party together

(Newser) - After Greece’s prime minister shocked the world —and his own finance minister—by announcing a public referendum on the EU bailout, the government has entered crisis mode. As leaders hold emergency talks, six members of George Papandreou’s party have called for his resignation, and one has quit,...

Greek PM Shocks Europe, Puts Bailout Up for Vote
 Greek PM Shocks Europe, 
 Puts Bailout Up for Vote 
STOCKS PLUMMET
Nov 1, 2011 7:59 AM CDT

Greek PM Shocks Europe, Puts Bailout Up for Vote

Papandreou calls public referendum, Germany furious

(Newser) - Greek Prime Minister George Papandreou threw a major monkey wrench into Europe’s plan to bail out his country yesterday, announcing that he’d be putting the plan negotiated last week up for a referendum, letting all of Greece have its say. That terrified investors—who sent the Athens benchmark...

Eurozone Deal Boosts World Markets
 Dow Crosses 12K 
 on Eurozone Deal 
MARKETS
Oct 27, 2011 9:02 AM CDT

Dow Crosses 12K on Eurozone Deal

Investors optimistic after Greek debt cut, rescue fund expanded

(Newser) - Will the debt crisis deal reached by European Union leaders help get the world economy back on track? Investors around the globe seem to think so. The Dow jumped 247 points at the open, to 12,116. The S&P 500 and Nasdaq rose 32 and 68 points, respectively, reports...

EU Leaders Forge Emergency Debt Deal

Banks taking 50% haircut on Greek debt

(Newser) - European Union leaders have hammered out a deal they say will help resolve the eurozone's debt crisis. After talking late into the night, a "three-pronged deal" was reached that will see banks taking a 50% loss on Greek debt, AP reports. The eurozone and the International Monetary Fund...

Berlin-Paris Flap Delays Euro Bailout

Agreement impossible until next week, Merkel and Sarkozy say

(Newser) - This weekend's European summit was supposed to produce an agreement that would avert financial doom for the eurozone, but it has failed before it even began. Nicolas Sarkozy and Angela Merkel have issued a joint statement admitting that it will be impossible to reach a deal this weekend and...

1 Dead in Athens Protests
 1 Dead in Athens Protests 
Oct 20, 2011 11:48 AM CDT

1 Dead in Athens Protests

Victim may have suffered heart attack

(Newser) - An Athens anti-austerity demonstration turned violent today when rioters attacked peaceful protesters, and one ended up dead. Rioters threw firebombs and chunks of marble at the tens of thousands who had turned out in the Greek capital hours before lawmakers were scheduled to vote on the unpopular austerity measures creditors...

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