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European stocks drop as eurozone returns to radar

European stock markets fell on Friday as emerging markets turmoil offsets solid economic growth and upbeat company earnings in the United States. And after a few days out of the spotlight, investor focus has returned to the eurozone as official data showed unemployment across the bloc stayed close to a…

Italy PM blames Germany, France for Euro debt crisis

Italian Prime Minister Mario Monti on Wednesday said the root of the eurozone’s debt woes lay partly in the irresponsible parenting ofGermany and France during the bloc’s infancy. Monti told reporters in Tokyo that because the eurozone’s two largest players had not abided by fiscal rules, they had set a bad example…

Greece receives first 7.5 bn euros in new bailout

ATHENS — Greece received on Tuesday a first payout of 7.5 billion euros ($9.9 billion) under its second international bailout, a finance ministry official said. Greece received 5.9 billion euros from the eurozone and 1.6 billion euros from the International Monetary Fund, said the official. Following a debt swap with…

Greece clinches landmark debt swap

Greece said on Friday it had clinched a “historic” debt swap, opening the way for an urgent second bailout to save the country from bankruptcy and the eurozone from a new crisis. Private creditors tendered bonds amounting to 83.5 percent of debt covered by a deal to cancel half the…

Europe urges Greece to do more, delays bailout cash

Europe delayed the release of bailout funds to Greece on Tuesday, demanding Athens make more sacrifices and warning banks may have to share more of the pain in the crisis threatening theeurozone. Stock markets tumbled after European finance ministers said Greece could wait until early November to receive 8.0 billion euros, the next…

IMF urges euro action as Merkel tempers summit expectations

German Chancellor Angel Merkel talked down the chances Tuesday that a eurozone summit will deliver the silver bullet to resolve the debt crisis as the IMF pressed leaders to take urgent action. While senior eurozone finance officials met in Brussels to craft a second Greek bailout for Thursday’s summit, Merkel…

Greece builds on vote victory in race to cut and privatize

ATHENS (AFP) – Greek ministers raced on Wednesday to meet a two-week deadline for budget cuts in return for EU-IMF cash to pay current bills and contain the eurozone crisis, hours after winning a confidence vote. While the government managed to prevent any defections as it won the confidence motion…

Europe approves 110-billion-euro Greek bailout

European governments Sunday endorsed an unprecedented 110-billion-euro bailout to save Greece from bankruptcy and shore up the single currency after Athens agreed to draconian spending cuts. The first installment of the eurozone-IMF rescue package will be paid within the next few weeks, with the rest spread over three years and…

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