greece bailout

The Financial Landscape: No Bailout Yet for Greece

The financial world Monday morning is focused on Greece. E.U. finance ministers postponed agreement on a bailout until they see proof that its government will follow through on austerity measures. Meanwhile, some big U.S. firms say that a generous tax break would help them expand their domestic operations.

Why Japan Is Rushing to Aid Europe: It's All About China

World markets got a boost this week from Japan's pledge to help overly indebted EU nations. What's behind Japan's move? Sure, the spirit of global cooperation is part of it. But much more significant is Tokyo's need to keep pace with Beijing in the influence game.

Wall Street May Be a Casualty of Debt-Ceiling War

Debt and government spending are firmly at the top of the new Congress's agenda. Just the threat that the U.S. wouldn't pay its bills has traders worried and wondering if the U.S. could end up on the same chaotic economic path taken by Greece or Spain.

Greece Cleared to Receive Next Batch of Rescue Loans

Greece received the green light for the next installment of its 110 billion euro ($150 billion) bailout package. Representatives of the IMF, ECB and EU said they were recommending that the country receive the third batch of loans under the program, The Associated Press said. The loans are worth 9 billion euros.

Is the Global Economy
Rolling Over?

The recent tremors in global equity markets may have deep roots. As investors are becoming aware, there is growing evidence that the economy is slowing down in Europe, Asia and the U.S. Here's a look at some of the key data.

Dow Dives 178 Points on Fears China May Hike Rates

The Dow tumbled Tuesday 178 points, or 1.6%, to close at 11,024 as part of a global sell-off in stocks fueled by further speculation that China will hike interest rates to fight inflation and renewed worries over the wobbly finances of Ireland, Portugal and Greece.

China Promises Continued Support for Europe

Chinese premier Wen Jiabao said his country will support European bonds and the euro currency. "I have made clear that China supports a stable euro," he said, according to BBC News.

European Commission Unveils Planned Debt Rules

The European Commission presented plans to punish countries whose excessive debt levels pose a potential risk to the euro. The proposals include automatic fines for countries that mismanage their finances and economies, BBC News said.

Rebuilding Greece: 'Strong Start,' but Miles Still to Go

The EU and the IMF have issued a glowing report card on Greece's reform efforts, but it's clear the country is hardly out of economic danger. Among the threats: Falling GDP, rising prices and the possibility of spiraling into ever-deeper budget cuts to offset falling tax revenue.

Greece Made 'Strong Start' to Austerity Measures, Delegation Says

Greece has made a "strong start" in its austerity program and is on course to receive a 9 billion euro ($11.8 billion) installment of emergency loans, a joint European and IMF delegation said. The Greek government is ahead of schedule in many areas as it battles to reduce its debt levels and budget deficit, the statement from the EU, IMF and European Central Bank delegation said.

Greece Takes First Step Towards Pension Overhaul

Greece took a step towards overhauling its ailing public finances by giving preliminary approval for a bill that would increase the retirement age and cut benefits. The new law sets a retirement age of 65 for both men and women, and reduces payouts by basing pensions on lifetime income, rather than final salary, The New York Times reported. Currently, many Greeks can retire before they are 50.

Want a Stronger Recovery? Learn From Europe

After the U.S. spent trillions to prop up reckless banks and spark a recovery, growth and employment are anemic -- while bankers rake in ever-bigger bonuses. Germany's recovery, meanwhile, seems stronger and more durable. And even Greece is in a better situation than the U.S.

Greece May Sell or Lease Islands to Ease Debt Problems

Squeezed by a debt crisis, Greece may put some of its islands up for sale or long-term lease to raise cash for the government's ailing finances, according to the Guardian. Chinese and Russian investors are reportedly interested.

The Biggest Obstacle to a Greek Bailout May Be Greece

Instead of embracing the rescue package, Greek citizens are roundly rejecting the austerity measures the aid depends on. That's bad enough, but considering how much the Germans disdain having to bail out their profligate neighbor. Bottom line: The EU and euro are in big trouble.

Can an EU-TARP Buffer the World From Europe's Crisis?

The financial crisis that started with overly indebted Greece is spreading rapidly to engulf Spain, Portugal, and European Union banks. The world may need a TARP-like rescue effort to contain Europe's contagion.

Europe Needs to Think Big About Its Bailout

Ratings downgrades for Spain, Portugal and Greece have alarmed already-rattled credit markets, sending borrowing costs sky-high. As contagion spreads, Europe's politicians need to stop dithering over the bailout and take dramatic steps to reassure markets.

Greece to Sell Nearly $7 Billion in Bonds

Greece has announced it will issue as much as $6.7 billion in seven-year bonds just days after the European Union and International Monetary Fund came to an agreement on how to backstop the country's finances as it works its way out of its crippling debt.

Exposed: The Eurozone's Key Flaws

Beneath the celebration of Greece's "rescue" lie structural imbalances -- fundamental asymmetries that imperil the euro, the joint currency that has been the centerpiece of European unity since its introduction in 1999. The key imbalance is between export powerhouse Germany, which generates huge trade surpluses, and its trading partners, which run large trade and budget deficits, particularly Portugal, Italy, Ireland, Greece and Spain.