EU officials swiftly dismiss Greek reform offer
European Union officials on Tuesday swiftly dismissed new Greek promises of economic reform, saying the proposals were not enough to unlock funds that Athens urgently needs to avoid defaulting on its debts.
Jun 09, 2015, 19:19 PM IST
Greece delivers reform plan to EU, warns on cost of failure
Greece handed its creditors new proposals on unlocking funds to keep the country from default, with Prime Minister Alexis Tsipras offering hope for a deal and warning the cost of failure would be enormous.
Jun 09, 2015, 16:59 PM IST
Cyprus GDP grows for first time since 2011
Recession-hit EU member Cyprus notched up its first positive growth in almost four years as GDP rose 1.5 percent in the first quarter, official figures showed on Tuesday.
Jun 09, 2015, 15:52 PM IST
Greece gives new reform plan to creditors: European sources
Greece has submitted a promised reform plan to its EU-IMF creditors, a day before Prime Minister Alexis Tsipras is due to discuss how to end Athens`s debt crisis with the French and German leaders, European sources told AFP Tuesday.
Jun 09, 2015, 13:53 PM IST
Greece talks of compromise as Merkel warns time is short
Three days after Prime Minister Alexis Tsipras told his parliament the latest proposal from the EU and IMF was "absurd", the Greek government said it was ready to negotiate a settlement acceptable to both sides by the end of this month - when Greece`s bailout programme expires and it faces the prospect of default on its debts.
Jun 09, 2015, 10:43 AM IST
Euro rises to $1.13 on German trade data
The euro got a boost from a widening of Germany`s trade surplus in April as exports grew by 1.9 percent, while imports fell 1.3 percent.
Jun 09, 2015, 10:32 AM IST
EU chief rebukes Greece, demands swift debt plan
He urged Athens to put its own ideas on the table swiftly to enable talks to resume on the sidelines of an EU-Latin America summit on Wednesday in Brussels.
Jun 07, 2015, 23:05 PM IST
Greek, Ukraine crises loom over G7 summit
Greece`s bailout agreement with its creditors expires at the end of June. Should Athens miss its loan payments and default, many fear this would set off a chain of events that could lead to a messy Greek exit from the euro.
Jun 07, 2015, 17:41 PM IST
Eurozone bank stress tests set for 2016: Report
"There will be a public and general stress test next year. It could only concern a part of the 123 banks that we supervise directly," Nouy was quoted as saying by German paper Die Welt.
Jun 07, 2015, 00:04 AM IST
Greek PM says will not accept deal without debt relief
Greek Prime Minister Alexis Tsipras told parliament on Friday that he would not accept an agreement with lenders that did not include the promise of debt relief that has been his government`s long-standing demand.
Jun 06, 2015, 18:17 PM IST
Greek PM rejects 'absurd' offer from lenders, delays IMF payment
Tsipras made no mention of elections in an address that focussed on attacking the aid plan offered by euro zone and IMF creditors.
Jun 06, 2015, 08:18 AM IST
Greece ramps ups pressure in debt talks after delaying loan payment
Greece has raised the pressure in the make-or-break negotiations with its EU-IMF creditors after postponing a loan repayment due Friday, playing for more time to reach a deal that meets its anti-austerity programme.
Jun 05, 2015, 19:01 PM IST
Greece ducks Friday deadline by bundling IMF payments
"The Greek authorities have informed the (IMF) today that they plan to bundle the country`s four June payments into one, which is now due on June 30," IMF spokesman Gerry Rice said, citing rules allowing debtor countries to regroup "multiple principal payments falling due in a calendar month."
Jun 05, 2015, 10:34 AM IST
Greece, EU to continue talks as debt payment looms
Greece and the EU said Thursday talks would continue towards a deal on disputed reforms needed to unlock bailout loans as Athens began to feel the heat of a wave of June debt repayments.
Jun 04, 2015, 21:58 PM IST
New Greek crisis talks likely Friday: Source
Greek Prime Minister Alexis Tsipras will likely hold fresh talks with European Commission chief Jean-Claude Juncker and creditors on Friday, European sources said, with all sides working feverishly to secure a deal.
Jun 04, 2015, 19:20 PM IST
ECB sees growth faltering as it presses on with QE
Europe has lost some growth momentum and bond market volatility is here to stay, the European Central Bank said on Wednesday, pledging to see through its money printing scheme until its job of lifting the economy is done.
Jun 03, 2015, 23:16 PM IST
ECB says no talk of exiting bond purchase programme yet
European Central Bank president Mario Draghi said Wednesday that the ECB is a "long way" from considering phasing out its controversial bond purchase programme any time soon.
Jun 03, 2015, 22:49 PM IST
Creditors` proposal, not Greek plan, basis for talks: Germany
Germany said Wednesday that talks this week on a deal to prevent a Greek debt default would be based on a proposal put forward by creditors, not by Athens.
Jun 03, 2015, 21:15 PM IST
EU says no final Greece deal expected at Juncker-Tsipras talks
Talks between Greek Prime Minister Alexis Tsipras and European Commission head Jean-Claude Juncker later Wednesday are not expected to produce a final deal on Greece`s bailout, Juncker`s spokesman said.
Jun 03, 2015, 19:34 PM IST
Greece threatens to skip IMF payment; Alexis Tsipras set for EU talks
Greece threatened to miss a loan repayment to the IMF this week, opening the way for possible default, just hours before creditors were expected to present an ultimatum offering Athens funds in return for economic reform.
Jun 03, 2015, 19:29 PM IST
