Greece’s finance minister says the debt-ridden country needs to adopt new austerity measures before its international creditors will hand it more money to avoid a default next month on its bailout loans from last year. Greek Finance Minister Evangelos Venizelos told Parliament Wednesday that the nation has not fully grasped its economic peril, and that […]
Greece Says New Austerity Measures Needed
Posted September 21st, 2011 at 10:45 am (UTC-5)
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Greece Says New Austerity Measures Needed
Posted September 21st, 2011 at 9:35 am (UTC-5)
Greece’s finance minister says the debt-ridden country needs to adopt new austerity measures before its international creditors will hand it more money to avoid a default next month on its bailout loans from last year. Greek Finance Minister Evangelos Venizelos told Parliament Wednesday that the nation has not fully grasped its economic peril, and that […]
US Stocks Advance in Midday Trading Tuesday
Posted September 20th, 2011 at 12:50 pm (UTC-5)
U.S. stock indexes moved up in midday trading Tuesday. The Dow Jones Industrial Average of 30 key stocks is ahead nine-tenths of one percent, while the broader S&P 500 is up one percent. The technology-laden NASDAQ is ahead by eight-tenths of a percent. European stock prices closed sharply higher. London’s Financial Times index ended up […]
IMF: World Economy Entering ‘Dangerous New Phase’
Posted September 20th, 2011 at 12:10 pm (UTC-5)
The International Monetary Fund is sharply downgrading its outlook for the global economy, saying it is entering a “dangerous new phase.” The IMF said Tuesday that the recovery from the world recession has “weakened considerably,” and cut its growth forecasts for almost every geographic region. It said that the overall global economy will grow by […]
US Stocks Open Lower on Tuesday
Posted September 20th, 2011 at 10:25 am (UTC-5)
U.S. stock indexes slid in early trading Tuesday. The Dow Jones Industrial Average, the S&P 500 and the NASDAQ are all down about two-tenths of one percent. European stock prices moved higher in afternoon trading. London’s Financial Times index is up nine-tenths of a percent. The CAC-40 in Paris is ahead by six-tenths of a […]
Greece Set to Renew Debt Talks with International Creditors
Posted September 20th, 2011 at 9:20 am (UTC-5)
Greece is set for a second round of talks with its international creditors on its precarious financial plight, even as there are new warning signs throughout Europe about the fallout from the continent’s debt contagion. Greek Finance Minister Evangelos Venizelos is planning to talk late Tuesday with officials from the International Monetary Union, the European […]
Greek Creditor Talks to Continue Tuesday
Posted September 19th, 2011 at 8:05 pm (UTC-5)
Greek authorities hold another telephone call Tuesday with top international finance officials as Greece struggles to persuade lenders to grant it a loan installment to avoid default. Finance Minister Evangelos Venizelos said his talks Monday with the European Union, European Central Bank, and International Monetary Fund were “productive and substantive.” But before the telephone call, […]
Greece Debt Talks with Creditors End Without Resolution
Posted September 19th, 2011 at 3:45 pm (UTC-5)
Greece’s bid Monday night to convince its international creditors to hand it more financial assistance to avoid a default next month on its bailout loans has ended without resolution — at least for now. Greek Finance Minister Evangelos Venizelos talked with key officials from the International Monetary Fund, the European Union and the European Central […]
US, European Markets Fall
Posted September 19th, 2011 at 12:45 pm (UTC-5)
U.S. and European stock markets dropped sharply Monday on fears of a Greek debt default. U.S. stocks traded lower at midday. Both the Dow Jones Industrial Average of 30 key stocks and the broader S&P 500 are off 1.8 percent. The technology-laden NASDAQ is down 1.2 percent. European stocks ended even lower. London’s Financial Times […]
IMF, EU Pressure Greece on Austerity
Posted September 19th, 2011 at 11:25 am (UTC-5)
The International Monetary Fund and European Union are increasing pressure on Greece to carry out its budget austerity measures if it hopes to receive more financial assistance and avoid default on its loans next month. The IMF’s representative in Greece, Bob Traa, said Monday that the Athens government must quickly sell some state-owned operations to […]
