Economy, Greece Debt | featured news

Cutting Greece's debt will not solve the country's problems, ECB policymaker Jens Weidmann was quoted as saying on Sunday, adding Athens needed to raise its productivity instead.

Fitch Ratings on Wednesday downgraded Greece deeper into junk territory, citing the absence of a new and fully funded financing program for the country.

Thousands of South Asian migrants have left Greece in recent months to escape the country's growing economic crisis, community leaders tell the BBC.

Eurozone finance ministers meet in Luxembourg, where they are expected to approve a 12bn-euro (£10bn) loan to debt-stricken Greece.

Speculation is growing that Greece may need a second financial bail-out from the international community

Stocks are plunging as investors give in to fears that Greece's debt problems will spread and halt the global economic recovery.

European debt problems sent another wave of pessimism through the markets.

Greece reached agreement with the European Union and the International Monetary Fund on rescue loans to keep Athens from defaulting on its debts, a deal that will impose harsh cuts on the county's 11 million people for years.

Financial leaders, with a nervous eye on Greece, pledged on Saturday to address the risks posed to the global recovery from high government debt....

Euro-zone finance ministers unanimously approved a detailed emergency aid mechanism for Greece but stressed that the country had not yet requested a bailout.