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New Greek government offers no austerity relief

ATHENS (Reuters) – Greece’s new cabinet may last a month or two longer than planned, a senior government official said on Saturday, but whatever happens Greeks should not expect any relief from the tough austerity measures they have endured for two years. A national unity government, led by technocrat Prime…

Ex-banker Papademos to lead Greek crisis coalition

ATHENS (Reuters) – Former European Central Bank vice-president Lucas Papademos will head Greece’s new crisis coalition, the president’s office said on Thursday, ending suspense over who will try to save the country from default, bankruptcy and an exit from the euro zone. The coalition will be sworn in at 1200…

Parties agree on early Greek elections date

The two main Greek political parties have agreed on February 19 as the best date for early elections in the debt-strapped eurozone country, the finance ministry said. At a meeting held late Sunday alongside one that grouped party leaders George Papandreou and Antonis Samaras, delegations from the socialist PASOK and…

Greek PM Papandreou wins confidence vote

ATHENS (Reuters) – Greek Prime Minister George Papandreou survived a vote of confidence in parliament on Saturday, avoiding snap elections that would have torpedoed Greece’s debt bailout deal and inflamed the euro zone’s economic crisis. But the nation remained mired in political, economic and social turmoil. Papandreou signaled he would…

Geithner briefs Boehner on euro crisis

WASHINGTON — Amid fears the eurozone crisis may spill into US markets, Treasury Secretary Tim Geithner on Tuesday discussed the situation with Republican House Speaker John Boehner, the lawmaker’s spokesman said. Geithner briefed Boehner “on the European debt crisis and the potential impact on America,” said the speaker’s press secretary,…

Greek referendum ignites German anger

ATHENS (Reuters) – Prime Minister George Papandreou’s shock decision to call a referendum on Greece’s bailout drew veiled threats from Germany on Tuesday and hammered markets edgy over the euro zone crisis. European politicians complained that Athens was trying to wriggle out of the rescue deal agreed only last week, concerned not so much about…

EU ‘relatively close’ to bank deal on Greece debt

Negotiators from the European Union and banks are “relatively close” to a deal to write off around half of Greece’s 350-billion-euro debt pile, an EU official said on Monday. “We’re relatively close to a deal,” said EU economic affairs commissioner Olli Rehn’s spokesman, Amadeu Altafaj. While talks are ongoing, he underlined…

Greek protesters walk off the job, block property tax

ATHENS (Reuters) – Greek protesters halted public transport in Athens on Thursday and moved to disrupt collection of an unpopular new property tax in a growing wave of opposition to harsh new austerity measures demanded by international lenders. With the beleaguered Socialist government of Prime Minister George Papandreou fighting to…

Europe puts off Greece verdict, demands spending cuts

Europe again put off a decision on unblocking promised loans to Greece, ordering Athens to slash government spending, but ruled out Tuesday any default or eurozone exit. Eurozone chief Jean-Claude Juncker said a rescue fund to be used for a second Greek bailout, agreed in July but frozen with auditors…

European stocks ending third quarter in the red

European stocks slid on Friday, the last trading day of the third quarter, as markets doubted whether a boost to the eurozonebailout fund would provide the panacea to the bloc’s debt crisis. The euro dropped against the dollar as official data showed a spike in eurozone inflation to 3.0 percent in September, while…

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