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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.


Budget breather for Greece would spur economic recovery: report

Greece Bailout

Finance ministry officials in Greece have calculated that the debt-stricken country's economy will recover faster and its debt be more sustainable if it is given two more years to reduce its budget deficit, a Greek newspaper reported on Saturday.


Greece Plans Large Debt Auction Tuesday

Starved of financing options, Greece will offer an unusually large amount of treasury bills next week so it can meet looming redemptions and fund its cash needs .


Failure of Greek debt deal could cost $1 trillion

Decision day for the Greek debt crisis is drawing near, and insiders are predicting that if things go awry it could cost the world economy $1 trillion.


Greece must stick to reforms in 2012 to stay in euro: PM

Greece faces another tough year in 2012 but must stick to its program of austerity and reform to stay in the euro, Prime Minister Lucas Papademos said in a pre-recorded New Year's Eve address.


Papandreou says new interim government will secure debt deal

Greek PM George Papandreou says an agreement has been reached on the creation of an interim government that will secure the new debt deal.


Markets Tumble on Greece; Dow Down 20% From April High

World stocks hit a 15-month low on Tuesday and the dollar rose to a nine-month peak as fears over a major banking crisis in Europe mounted.


Greece to miss deficit targets despite austerity

Greece to miss deficit targets despite austerity

Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.


Stocks fall as Greek debt woes persist

Stocks fall as Greek debt woes persist

Stocks are tumbling as investors worry that Greece won't qualify for a new installment of emergency funds in time to avoid defaulting on its debt.


France Vows 'Whatever it Takes' to Rescue Greece

France Vows 'Whatever it Takes' to Rescue Greece

France is ready to do whatever it takes to rescue Greece, the government said, and urged the debt-laden euro-zone member to swiftly implement the July 21 plan to prevent bankruptcy.


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