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Greece Cabinet OK's austerity plan

Greece

Greece's Cabinet approved austerity measures demanded in return for a new eurozone bailout of the debt-stricken country Saturday, a day ahead of a crucial vote in Parliament.

 

Greek deal -- first on, then off -- pushes stocks down

As is increasingly the case with the European financial crisis, the story changed between the time the evening papers went to bed Thursday night and the traders woke up Friday morning.

 

Breakthrough on Austerity Clears Way for Greek Deal

George Papandreou

After days of talks, Greek political leaders reached a deal Thursday to support a package of harsh austerity measures demanded by Greece’s financial backers in return for a bailout.

 

Wall Street eases as investors eye Greece

Stocks edged lower on Monday as a delay by debt-ridden Greece in accepting the terms of a bailout gave investors little reason to buy equities after a five-week rally.

 

Greece should give up budget control: Germany

Greece must surrender control of its budget policy to outside institutions if it cannot implement reforms attached to euro zone rescue measures, the German economy minister was quoted as saying on Sunday.

 

Greece, creditors on verge of clinching debt deal

Greece Debt Deal

Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap and expected to have a deal ready next week, essential for sealing a new bailout and avoiding an uncontrolled default.

 

Greeks reject EU 'budget control'

Greek officials reject German proposals for a eurozone budget commissioner to oversee spending, as agreement nears on a second bailout for Greece.

 

Greece, creditors make little progress as clock ticks

Greece Debt Swap

Greece and its bondholders have made little progress since resuming stalled talks on a debt swap, three sources close to the talks told Reuters on Thursday, with time to strike a deal and avoid a messy default running out rapidly.

 

Greece may clinch bond swap deal by next week: source

Greece could reach a bond swap deal with private creditors to reduce its debt load by the end of next week, with a formal offer possible by early February, a finance ministry source said on Thursday.

 

ECB policymaker wants banks off Greece bailout hook

European Central Bank policymaker Athanasios Orphanides called for euro zone leaders to abandon plans to make private sector investors help reduce Greece's debts, but his push showed no sign of gaining any traction in Europe's capitals on Friday.

Senh: Everyone needs to take part in helping Greece. The government can't do everything.

 

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