
Greece’s finance minister Yannis Stournaras says the three parties in the country’s governing coalition have reached a “basic agreement” on the austerity package for 2013-14. The measures are likely to be presented to Greece’s international lenders on Monday before going before parliament. The cuts are necessary if Greece is to continue receiving bailout funds. Earlier, [...]

French President Francois Hollande has urged Greece to prove it can pass reforms demanded by international creditors, after talks with PM Antonis Samaras. Greek PM Antonis Samaras has been appealing for more time to introduce the reforms. But Francois Hollande said no further decision could be taken until European ministers consider a major report on [...]

European Council President Herman Van Rompuy has announced that EU leaders want Greece to remain in the eurozone but to “respect its commitments”. Herman Van Rompuy, speaking at an informal EU summit, said continuing “vital reforms” were essential for Greece to overcome its economic problems. The eurozone crisis has overshadowed the talks, amid fears that [...]

World markets are down as Greece’s continuing political uncertainty undermines confidence. Greece failed to form a coalition government through talks on Sunday and will continue discussions with political leaders on Monday evening. Bank shares are worst hit, particularly in Spain and France, with Madrid’s IBEX index down 3% and the CAC down 2.7%. The Dow [...]
May 14 2012 | Posted in
Finance,
Front Page |
Read More »