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Cyprus: Banking crisis stalls financial live

Cyprus - BBC

Homeowners have told of how sales of their properties are on hold and businesses have called for clarity amid banking uncertainty in Cyprus. The country is braced for an emergency session of its parliament, and a planned vote, regarding a 10bn euro ($13bn; £9bn) financial rescue.

 

Cyprus Fears Send Stocks Lower

Bank of Cyprus

U.S. stocks fell as an unprecedented Cyprus bank-deposit tax sparked renewed fears about Europe's debt crisis.

 

Workers protest to get EU leaders to end austerity

Austerity Protest

Thousands of workers protested in Brussels on Thursday to demand that EU leaders gathering for a summit bring an end to austerity measures and instead focus on boosting growth and reducing unemployment.

 

Banks saved, but Europe risks "losing a generation"

Europe has spent hundreds of billions of euros rescuing its banks but may have lost an entire generation of young people in the process, the president of the European Parliament said.

 

Analysis: Core problem for Europe as France, Germany drift apart

Even as the euro zone periphery starts to spy some glimmers of hope, concern is mounting that Germany is drifting apart from other countries at the core of the single currency bloc, notably France.

 

Greece hit by general strike against austerity

Greek Austerity Protest

Tens of thousands of anti-austerity demonstrators took to the streets of Athens on Wednesday as unions staged a general strike to protest government spending cuts and tax hikes, which some predict will push unemployment to an alarming 30 percent. Police said up to 40,000 people were participating in two separate marches in central Athens that were so far peaceful.

 

Greece says it met deficit-cutting targets in 2012

The Greek government says its painful austerity drive is paying off, with the budget deficit reduced to 6.6 percent of annual output in 2012 from 9.4 percent a year earlier. A finance ministry statement Monday said that, not counting the cost of servicing Greece's debt mountain, the government posted a modest budget surplus of €434 million ($588 million) last year.

 

Spain Buries Itself In Unpaid Bills

Local governments across Spain have been paying their suppliers' bills months behind schedule, forcing companies to help shoulder the financial woes of the Spanish government.

 

Standard & Poor’s Upgrades Greece’s Credit Rating

Greece

Standard & Poor's ratings agency on Tuesday upgraded Greece's credit grade by 6 notches, yanking the debt-heavy country out of default but still keeping its devalued bonds in junk status.

 

Investors offer about 30 billion euros in Greek debt buyback: source

ATHENS (Reuters) - Greek and foreign bondholders offered about 30 billion euros ($38.8 billion) in a buyback plan that is key to the country's international bailout, a Greek government official said on Saturday.

 

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