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Greek Recession May Bottom Out In 2013

Greece's recession is unlikely to bottom out until sometime in 2013, an International Monetary Fund official said Thursday, though the country should be able...

Christofias – Barroso Joint Conference

Preparations for the Cypriot Presidency are at an excellent state, EU Commission Presidenty Jose Manuel Barroso has said. According to a press release issued here...

Despite New Bailout, Sacrifice, Greece Still on Edge of Default

ATHENS – While many political leaders in Greece expressed satisfaction with a new bailout from international lenders – this one for $170 billion needed...

Fitch Downgrades Greece to ΄C΄

Fitch Ratings has downgraded Greece΄s credit rating to C from CCC Wednesday after confirmation of the second bailout package that includes a debt exchange...

Parliament Debates Debt Deal Amid Protests

The Greek government braced for further anti-austerity protests Wednesday while the country's parliament was debating legal changes that would clear the way for a...

Will Greece Need a Third Bailout?

ATHENS – Greece – for now – has been saved from default after Eurozone leaders agreed on a second bailout of $171 billion along...

Bank of Cyprus Loses 1 Billion Euros Over Greek Write-Off

Bank of Cyprus (BoC), the island's largest financial institution, reported a one billion euro ($1.32 billion) loss for 2011 after a write-down of Greek...

IIF Recommends Members Carefully Consider New Deal

The body representing Greece΄s private-sector creditors said Tuesday it recommends they "carefully consider" a new deal forcing them to accept a bigger loss on...