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Greek leaders reach deal on $14.14 billion spending cuts

Last Updated: Thursday, August 02, 2012, 09:16

Greek political leaders on Wednesday agreed to 1.5 billion euros ($14.14 billion) of new spending cuts, demanded by the debt-crippled country's bailout creditors, opening the way for a deal with foreign lenders within the month.

Will Spain go the Greece way? International investors wary

Last Updated: Sunday, April 15, 2012, 22:36

Spain has become the latest country caught up in the government debt crisis crippling Europe, sparking fears that it'll join Greece, Portugal and Ireland and go asking for an international bailout.

In Greece retiree commits suicide to protest against austerity

Last Updated: Friday, April 06, 2012, 09:28

An elderly man shot himself in the head Wednesday in central Athens, drawing an emotional response from Greeks who flooded the area in a spontaneous anti-government protest.

Euro countries formally approve new aid for Greece

Last Updated: Wednesday, March 14, 2012, 23:35

Countries in the 17-nation eurozone on Wednesday formally approved a second bailout for Greece and authorized the release of (euro) 39.4 billion (USD 51.44 billion), as they had signaled last week.

Greece swaps bonds worth $232.5 billion

Last Updated: Tuesday, March 13, 2012, 00:43

Greece implemented the biggest debt writedown in history on Monday, when it swapped the bulk of its privately-held bonds with new ones worth less than half their original value.

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 says high participation in bond swap

Last Updated: Friday, March 09, 2012, 13:46

Greece on Friday secured a high enough participation in its critical bond swap offer to drastically reduce its debt, staving off an imminent default and paving the way for the release of funds from international rescue loans.

Deadline ends on Greek bond swap deal

Last Updated: Friday, March 09, 2012, 09:05

A deadline has passed for private investors to participate in a major Greek debt reduction deal, with government officials and world markets appearing confident of high participation.

Greece may avoid default as investors agree to bond swaps

Last Updated: Thursday, March 08, 2012, 14:37

Greece's race to slice (euro) 107 billion (USD 140 billion) off its national debt entered the final stretch Thursday, with markets confident enough private investors will decide to accept a deal to write down the value of their Greek bond holdings.

Wall Street's not-so-super Tuesday: Dow posts worst drop this year

Last Updated: Wednesday, March 07, 2012, 09:22

US Stocks suffered their biggest losses in three months Tuesday, the first hiccup in a strong and steady rally to start the year. Wall Street worried about the global economy and waited while Greece pressured the last investors to sign on for its bailout.

Banks lead US stocks rally; Nasdaq nears 3,000

Last Updated: Friday, March 02, 2012, 09:43

Banks dodged a big hit from the Greek debt crisis and rallied Thursday to lead the stock market higher. Strong retail sales and more encouraging news about the US job market also helped stocks rise.

German parliament passes Greece bailout deal

Last Updated: Tuesday, February 28, 2012, 08:54

The German parliament, Monday passed the second bailout package for Greece worth about 130 billion euros (USD 174.4 billion) to help the country avoid a default.