ECB

Battered at home and throughout Europe, Greece deserves some respect for its efforts to overcome its economic crisis, Prime Minister George Papandreou said, asking for European Union leaders to find a “definitive solution” when they meet in Brussels on...

The debate about the haircut of Greek debt has a new dimension, as a large proportion of banks involved in the negotiations expressed the view that the policymakers’ threat of a haircut by 60% would happen without the willingness...

BRUSSELS - Officials of the Eurozone, the 17 countries who use the euro as a currency, have confirmed that banks and investors in Greece will lost at least half their money even as speculation built they could lose everything. Eurogroup...

ATHENS - As growing numbers of public workers join the ranks of strikers protesting pay cuts,  tax hikes, and the layoff of 30,000 workers Finance Minister Evangelos Venizelos blistered them for their actions and said the city was under...

During his interview with the Financial Times yesterday, the departing Head of the ECB Jean Claude Trichet made clear that if Greece is pushed into default, then the ECB will no longer be able to accept its government's bonds...

A relentless wave of tax increases hasn't provided enough revenue to plug a deep hole in public finances, so a new supposed one-time “solidarity” surtax on income paid by Greeks will continue next year[...]

As Greek leaders are admitting that the country’s investors won’t get paid back all they are owed, Cyprus’ Nobel Prize Winner for Economics Christopher Pissarides has joined the bandwagon of analysts who say the so-called “haircut” could be a...

ATHENS – Finance Minister Evangelos Venizelos reiterated that Greece will do whatever it takes, including following the demands of the European Union-International Monetary Fund-European Central Bank Troika lending the country $152 billion to stay afloat, and challenged private dissenters...

IMF/EU/ECB ask for additional measures of €4 billion for the period 2011-2015 besides measures of €6 billion already included in the draft budget of 2012. Troika representatives continue technical consultations, seeking new measures, while its senior officials prepare the final...

  ATHENS - The International Monetary Fund's representative in Greece has warned that a $152 billion bailout of rescue loans may not work because he said the country's leaders are dragging their feet on critical structural reforms. The IMF, along...