Asian stock markets have registered a sharp fall in early trade following massive losses on Wall Street amid continuing fears over the Greek debt crisis.
Japan’s benchmark Nikkei index dropped 3.1 per cent by closing, a percentage point up from its opening plunge on Friday.
Australia’s All Ordinaries and S&P/ASX200 indices both slid by almost 1.8 per [...]
The European Union and the International Monetary Fund (IMF) have agreed a $146.2bn bailout package over three years to rescue Greece’s indebted economy.
Finance ministers from the 16 nations that use the euro currency endorsed the plan on Sunday after the Greek government announced a series of budget cuts and tx hikes.
Under the rescue plan, the [...]
The Greek government is set to reveal the austerity measures that have to be taken in return of an international rescue package to get the country out of its debt crisis.
In a cabinet meeting on Sunday, George Papandreou, the prime minister, said Greeks would be called upon to make “great sacrifices” in return for aid.
Papandreou [...]
Riot police have clashed with Greek demonstrators angry about planned wage cuts, tax rises and pension reductions to be implemented to tackle the country’s debt crisis.
Thousands of left-wing demonstrators and labour union members descended on Athens, the capital, on Saturday for a May Day march against the so-called austerity measures.
Police fired tear gas into [...]
Protesters across the world are taking to the streets to mark May Day, also known as Labour and International Workers Day.
In Greece, Saturday’s demonstrations have gained special significance this year with millions of people are facing increased taxes and pay cuts as the government struggles to overcome its huge debt problem.
Several anti-government rallies were planned [...]
The head of the International Monetary Fund has warned that Greece’s debt crisis could spread and threaten the economies of other countries.
Dominique Strauss-Kahn made the comments in Berlin on Wednesday as he tried to persuade Germany, Europe’s biggest economy, to back the terms of a multi-billion dollar rescue package.
Angela Merkel, the German chancellor, has pledged [...]
George Papandreou, the Greek prime minister, has asked the European Union and International Monetary Fund (IMF) to activate a financial aid package, designed to help pull the euro zone member out of its debt crisis.
The request on Friday followed negotiations with EU and IMF officials over the details of the $60bn emergency rescue package.
Financial data [...]
European leader have agreed a deal to help debt-stricken Greece, in a move aimed at restoring confidence in the euro and coaxing commercial markets into lending on favourable terms.
Eurozone leaders meeting in Brussels on Thursday agreed to back the French-German sponsored plan as a means to provide an economic safety net for Greece, should its [...]
Protesters plan to bring Greece to a standstill, with public workers and private unions holding a strike.
They are striking for the second time in two weeks on Thursday, over government austerity measures following the country’s huge debt problems.
“Workers will raise their fist and shout with one voice: We won’t pay for the crisis,” GSEE, a [...]
Greek police and protesters have clashed in Athens as anger over government spending cuts in the debt-ridden nation continues to fester.
Officers fired tear gas after a group of several hundred demonstrators rallying against the austerity measures threw stones at riot police.
However police said the majority of the estimated 12,000 protesters marching on parliament in the [...]