greece debt crisis

Oil Falls as Worries About Europe Debt Crisis Continue

Concerns about the European financial crisis are still dragging down the price of oil. Benchmark crude for July delivery fell 32 cents to $92.69 per barrel in Monday midday trading. All eyes remain on Greece, which is trying to implement tough new austerity measures necessary to keep international aid coming.

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.

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.

Greece: A Lesson in Overblown Market 'Crises'

To hear the pundits tell it, Greece's debt woes and accompanying civil disturbances signaled the end of the euro, or worse. Yet, the country's rebound gets little attention. This pattern gets repeated over and over, much to investors' detriment.

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.