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Greece calls May 6 poll that may create stalemate

Last Updated: Thursday, April 12, 2012, 15:39

PM Lucas Papademos said in a televised address to the nation after meeting the president that the parliamentary election would be held on May 6.

Greece secures biggest debt deal in history

Last Updated: Saturday, March 10, 2012, 11:07

Greece's private creditors agreed Friday to take cents on the euro in the biggest debt writedown in history, paving the way for an enormous second bailout for the country to keep Europe's economy from being dragged further into chaos.

Greece still to convince Europe over rescue deal

Last Updated: Tuesday, February 14, 2012, 09:05

The EU warned on Monday that the consequences of failure would be "devastating."

Greek lawmakers approve austerity bill as Athens burns

Last Updated: Monday, February 13, 2012, 08:53

Greece's parliament approved a deeply unpopular austerity bill Monday to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence spread around the country.

Greece set to agree bailout as Germany demands action

Last Updated: Sunday, February 12, 2012, 20:23

Greek lawmakers looked set to endorse a new and deeply unpopular austerity deal on Sunday to secure a multi-billion-euro bailout and avert what Prime Minister Lucas Papademos warned would be "economic chaos".

Greek party leaders fail to sign off on bailout

Last Updated: Thursday, February 09, 2012, 09:13

Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.

EU leaders struggle to reconcile austerity, growth

Last Updated: Monday, January 30, 2012, 17:49

European leaders will struggle to reconcile austerity with growth on Monday at a summit due to approve a permanent rescue fund for the euro zone and put finishing touches to a German-driven pact for stricter budget discipline.

Greece, creditors seek bond compromise as clock ticks

Last Updated: Thursday, January 19, 2012, 09:05

Greece meets its private creditors on Thursday for a second day of bargaining on a crucial bond swap deal, with time running out for reaching a compromise needed to avoid a default and exit from the eurozone.

Greece faces uncontrolled default without labour cost cuts

Last Updated: Thursday, January 05, 2012, 09:48

Prime Minister Lucas Papademos has said Greece faced an "uncontrolled default" in March unless unions and employers can quickly agree on labour cost cuts to boost competitiveness.

‘Early elections in Greece in late April’

Last Updated: Wednesday, December 28, 2011, 10:07

Lucas Papademos heads a government set up in November with the aim of implementing a second debt EU-IMF bailout agreed in October.

Greece braces for troika scrutiny and creditor talks

Last Updated: Sunday, December 11, 2011, 22:29

Inspectors for Greece's international lenders and private creditors kick off a round of meetings with the government on Monday to prepare for a new 130-billion euro (USD 173.75 billion) bailout plan and bond swap scheme to keep the country afloat.

Greece must stay in euro, needs drastic reform: PM

Last Updated: Thursday, December 01, 2011, 09:10

Greece needs to stay in the euro and realises its economy needs drastic reform, the country's prime minister said in a letter to international creditors in which he promised to stick to the terms of a debt reduction deal.