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New lifeline to Greece; pact to release 43.7 bn euros reached

Last Updated: Tuesday, November 27, 2012, 08:55

The breakthrough came after 12 hours of negotiations by euro zone finance ministers in Brussels which concluded last night. Two earlier attempts had failed to break the deadlock.

Eurozone finance ministers release 35 billion euro for Greece

Last Updated: Saturday, March 10, 2012, 15:01

Eurozone finance ministers have released 35 billion euro from the second bailout package for debt-ridden Greece shortly after the government in Athens reached a landmark deal with private creditors on a bond swap, which will halve its debts to around 107 billion euros.

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.

Moody's downgrades Greece to lowest rating

Last Updated: Saturday, March 03, 2012, 10:22

The ratings agency Moody's downgraded Greece to the lowest rating on its bond scale late Friday, following a deal with private investors that would see them ultimately lose an estimated 70 per cent of their holdings in Greek debt.

Europe seeks growth as austerity takes its toll

Last Updated: Friday, March 02, 2012, 10:03

Europe's leaders have said they are committed to supporting economic growth, in a concession that their focus on austerity as the key to solving the debt crisis is not working as unemployment hits record highs and recession looms over the region.

Asian markets ease as focus moves to growth, oil prices

Last Updated: Thursday, February 23, 2012, 10:32

Asian shares and the euro fell on Thursday on concerns about global growth driven by higher oil prices and data showing the eurozone may slip into recession, fanning fresh worries about Greece's debt restructuring challenges.

Asian markets dip as Moody's takes shine off Greek relief

Last Updated: Tuesday, February 14, 2012, 10:36

Asian shares and the euro fell on Tuesday after Moody's warned it could downgrade top-rated sovereigns including Britain, reminding investors that Europe is still deeply mired in a debt crisis despite Athens' steps to avoid a disorderly default.

Greek cabinet approves EU/IMF bailout bill

Last Updated: Saturday, February 11, 2012, 10:01

The Greek cabinet approved a draft bill spelling out reforms required by the EU and the IMF on Friday, taking Athens closer to getting a new 130 billion-euro bailout after the prime minister warned the alternative was "catastrophe".

Shares, euro guarded over likely Greek debt deal

Last Updated: Monday, January 30, 2012, 09:04

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.2 percent after hitting its highest since late October earlier. It gained 2 percent last week for its fourth consecutive weekly increase.

Germany, France press for Greek debt deal

Last Updated: Monday, January 23, 2012, 21:34

Germany and France pressed on Monday for a rapid deal between Greece and its private creditors that returns its soaring debt to sustainable levels and said they remained committed to a new bailout that is needed by March to avert a disastrous default.

Deutsche Bank chief opposes revision of Greek debt deal

Last Updated: Sunday, October 02, 2011, 20:37

Changing the terms of voluntary private sector participation in a bailout for Greece agreed in July could cost the support of private investors, the head of Deutsche Bank said in an interview published on Saturday.