24/04/2012 | Argentina

Greece's economy will contract more than 5% in 2012, central bank chief warns

Greece's central bank chief said economy will contract a deeper than expected 5 percent this year, and urged strict adherence to reform and fiscal adjustment commitments Greece has agreed with its euro zone partners.

30/11/2012 | World

German lawmakers approve Greek bailout despite qualms

German lawmakers approved the latest bailout for Greece today by a large majority despite growing unease about the cost to taxpayers less than a year before federal elections.

01/11/2012 | World

IMF says financing issues main obstacle on Greek talks

The International Monetary Fund said today financing issues remained the main obstacle for debt-laden Greece to receive more bailout money from its international lenders.

13/11/2012 | World

Anti-austerity strikes sweep southern Europe

21/11/2012 | World

Greece's lenders fail again to clinch debt deal

International lenders failed for the second week to reach a deal to release emergency aid for Greece and will try again next Monday, but Germany signaled that major divisions remain.

28/09/2012 | World

Spain bank audit paves way for state bailout

Spanish banks will need a total of 59.3 billion euros ($76.3 billion) in extra capital to ride out a serious economic downturn, an independent report said, removing a major obstacle in the way of an international bailout for Madrid

08/10/2012 | World

Euro zone launches bailout fund

Euro zone finance ministers launched their permanent 500 billion euro bailout fund but said Spain, the country widely expected to be first to draw on it, was taking steps to overhaul its economy and did not need a bailout for now.

09/10/2012 | World

Merkel lands in Greece as protesters mass on streets

Germany's Angela Merkel arrived in Greece on her first visit since Europe's debt crisis erupted here three years ago, braving protests to deliver a message of support - but no new money - to a nation hammered by recession and fighting to stay in the euro.

28/08/2012 | World

Spanish recession deepens as austerity plan moves forward

Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the euro area’s third-biggest budget deficit and a slump in consumer spending offset growth in exports.

12/09/2012 | World

German court backs euro rescue fund with conditions

Germany's Constitutional Court gave a green light for the country to ratify the euro zone's new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund.

26/09/2012 | World

Spain to pass reforms, budget cuts with eye on aid

Spain will announce a series of economic reforms and a tight 2013 budget today, aiming to avoid the political humiliation of having Brussels impose conditions on a request for an international bailout.

20/08/2012 | World

Germany's Central Bank reluctant to ECB bond buying

Germany's Bundesbank showed no signs of lowering its resistance to a European Central Bank plan to buy billions of euros worth of Spanish and Italian government bonds to reduce those countries' crippling borrowing costs.

23/08/2012 | World

Merkel and Hollande in extension talks over Greek bailout

Angela Merkel and Francois Hollande will present a united front towards Greece at talks today. The two European leaders will also meet Greek Prime Minister Antonis Samaras later this week.

24/08/2012 | World

Merkel to Greek PM: 'Greece must meet its reform targets'

Angela Merkel said today after meeting Greek premier Antonis Samaras that Germany would not judge his country's performance on its reform targets prematurely, but would await a report by the "troika" of international lenders due next month.

27/07/2012 | World

Spain discusses state bailout; ECB seen writing off Greek debt

Spain has at last conceded it may need a state bailout and policymakers are considering writing down Greek debt to their central banks, European officials said, as markets anticipated radical new action to pull the continent out of its debt maelstrom.

13/08/2012 | World

Senior Merkel ally sends stark warning to Greece

A senior member of Chancellor Angela Merkel's party issued a stark warning to Greece, saying Germany would not hesitate to veto further aid to the country if there were any signs it was not meeting the conditions of its bailout.

20/08/2012 | World

Greek exit from Eurozone manageable but not preferable, says ECB's Asmussen

A Greek exit from the euro zone would be manageable, European Central Bank policymaker Joerg Asmussen was quoted today as saying, although he would prefer it if the crisis-stricken country remained within the single currency bloc.

09/07/2012 | World

Greek deputy minister resigns over bailout stance

Greece's deputy labour minister resigned today saying the government was not being aggressive enough in pushing for changes to an unpopular bailout, becoming the third cabinet member to quit the fledgling coalition in as many weeks.

23/07/2012 | World

Global shares plunge on Spain bailout speculation

US stocks fell for a second straight session, as Spain appeared closer to needing a national bailout and poor corporate results weighed on the market. Meanwhile, European stocks also sank.

23/07/2012 | World

Spain's Central Bank says economy sank deeper into recession in second quarter

Spain's economy sank deeper into recession in the second quarter, its central bank said as investors spooked by an undeclared funding crisis in its regions pushed the country ever closer to a full bailout.

21/06/2012 | World

Spain to seek bank aid as borrowing costs soar

Spain's medium-term borrowing costs spiralled to a euro-era record on Thursday and independent auditors said Spanish banks may need up to 62 billion euros in extra capital, to be filled mostly by a euro zone bailout.

26/06/2012 | World

Greece names Stournaras as new finance minister

Greece's ruling coalition appointed economist Yannis Stournaras as the country's new finance minister, the prime minister's office said today.

29/06/2012 | World

German parliament approves EU bailout fund

Germany's parliament resoundingly approved the euro zone's permanent bailout scheme and new budget rules, but legal hurdles remain and Chancellor Angela Merkel's concessions to euro zone partners Italy and Spain may make those harder to overcome.

10/06/2012 | World

Eurozone agrees to lend Spain up to 100 bln euros

Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros (80.7 billion pounds) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.

19/06/2012 | World

Coalition gov’t expected soon, Greek parties say

Greek political parties meeting today said they expected to form a coalition government soon and then seek concessions to the painful austerity measures tied to the international bailout deal keeping the country from bankruptcy.

20/06/2012 | World

Greek Socialists say government agreed

A conservative-led Greek government has been agreed and will form a team to "renegotiate" the EU/IMF bailout saving the country from bankruptcy, Socialist PASOK leader Evangelos Venizelos said today.

27/05/2012 | World

Greek pro-bailout conservatives regain lead: polls

Greece's conservatives have regained an opinion poll lead that would allow the formation of a pro-bailout government committed to keeping the country in the euro zone, a batch of new surveys showed.

07/06/2012 | World

IMF to put Spanish bailout bill at 40-80 billion euros

An IMF report on Spanish banks to be released on Monday would estimate the cost of refinancing them at between $40-80 billion euros, according to a Spanish newspaper.

07/06/2012 | World

Merkel says EU ready to act as Spain downgraded

German Chancellor Angela Merkel said Europe was ready to act to ensure stability in the euro zone as Spain's credit rating was cut by three notches amid expectations it may soon seek EU help for banks beset by bad debts.

30/03/2012 | World

Euro zone leaders boost billionaire bailout fund

Euro zone finance ministers agreed today on a temporary increase in their financial rescue capacity to prevent a new flare-up of Europe's sovereign debt crisis, but markets may judge it too small to be convincing.

10/05/2012 | World

Euro zone approves Greek emergency payment, elections impasse continues

Euro zone governments kept Greece afloat after agreeing a payment of 5.2 billion euros (4.17 billion pounds) from the region's bailout fund, despite opposition from some member states following the Greek election results. Meanwhile, socialist leader Evangelos Venizelos began a last-gasp attempt to form a government after failed Sunday elections.

11/05/2012 | World

IMF chief: 'Bailout programmes must be implemented'

Greece, Portugal and Ireland must meet their obligations under bailout agreements reached with international lenders, the head of the International Monetary Fund said today.

14/03/2012 | World

Greek cabinet formally approves bailout agreement

Greece's cabinet unanimously approved the terms of its international bailout on Wednesday, hours after euro zone countries formally approved the 130 billion euro ($169 billion) financial package that Athens needs to stay afloat.

15/03/2012 | World

IMF approves 28 billion euro bailout for Greece

The International Monetary Fund today approved a 28 billion euro ($36.7 billion) bailout for Greece, part of a broader international rescue package for the debt-strapped euro zone member.

20/03/2012 | World

Greece receives first tranche of new bailout aid

Greece has received the first 7.5 billion euros ($ 9.9 billion) of aid from its new EU/IMF bailout, with the bulk of the payment going to repay bonds held by the euro zone's central banks, government officials said today.

07/03/2012 | World

Athens gives private creditors two days to decide on Greek bailout

Athens turned up the heat on its creditors as it sought to secure a bond swap that will cut its mountainous debt. The Greek government gave private creditors until Thursday night to say whether they will participate in the exchange that is a key part of a bailout programme to help Greece manage its mountainous debt.

12/03/2012 | World

Eurozone okays Greek aid, demands deeper Spanish deficit cut

Euro zone finance ministers gave their final approval to a second bailout for Greece and turned their fire on Spain, demanding it aim for a tougher deficit target this year in order to get back on target in 2013.

13/03/2012 | World

More austerity needed in Greece, EU/IMF report says

Greece will have to slash a further 5.5 percent of GDP in government spending in 2013 and 2014 to meet agreed fiscal targets underpinning the second international bailout for Athens, a European Commission report said.

23/02/2012 | World

Greece readies debt swap under bailout deal

Greece's parliament was expected to endorse a debt swap with private bondholders that forms the core of its 130-billion-euro bailout, despite new protests against tough budget cuts demanded in return for the rescue deal.

28/02/2012 | World

Day of reckoning for Romney as Michigan votes

US Republican presidential candidate Mitt Romney accused rival Rick Santorum of trying to "kidnap" Michigan's Republican presidential contest as he faced the possibility of a humiliating defeat in the Rust Belt state where he grew up.

06/03/2012 | World

IIF report sees 1 trillion euro fallout from Greek default

A disorderly default in Greece would probably leave Italy and Spain needing outside help to stop risks spreading, and cause more than 1 trillion euros (833 billion) damage to the euro zone, the Institute of International Finance said.

21/02/2012 | World

Europe seals new Greek bailout, doubts remain

Euro zone finance ministers agreed a 130-billion-euro (US$172 billion) rescue for Greece today to avert an imminent chaotic default after forcing Athens to commit to unpopular cuts and private bondholders to take bigger losses.

21/02/2012 | World

Obama congratulates Merkel on EU fiscal pact

US President Barack Obama and German Chancellor Angela Merkel praised a new European Union deal designed to stave off a chaotic Greek debt default, the White House said.

22/02/2012 | World

Greece pores over bailout laws amid protests

Trade unionists, communists and pensioners angry at punishing spending cuts in Greece marched through central Athens as lawmakers set to work on legislation needed to secure payment of a second bailout for the debt-laden country.

11/02/2012 | World

Greece warns bailout rebels of unknown, dangerous path

The Greek government told rebellious lawmakers to back a deeply unpopular EU/IMF rescue in parliament or send the nation down "an unknown, dangerous path" to default and international economic isolation.

14/02/2012 | World

Greece rushes to cut another US$430 million

The Greek government rushed to wring out another 325 million euros in budget cuts to satisfy euro zone finance ministers mulling whether to sign off on a rescue package to save the country from a chaotic default.

14/02/2012 | World

Eurogroup drops face-to-face bailout talks as Greeks argue

Euro zone finance ministers dropped plans today for a special face-to-face meeting on Greece's new international bailout, as the cabinet in Athens argued up to the last minute on plugging a 325 million euro ($427 million)gap in its austerity plan.

08/02/2012 | World

Greek party leaders fail to sign off on bailout

Greek political leaders failed to sign off on a tough reform and austerity programme, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.

09/02/2012 | World

Greece deal fails to convince, EU demands more

Greek political leaders said they had clinched a deal on economic reforms needed to secure a second EU bailout, but euro zone finance ministers demanded more steps and a parliamentary seal of approval before providing the aid.

10/02/2012 | World

Anger in Greece as parliament to vote on bailout

Greek lawmakers will vote this weekend on a controversial austerity bill that Athens needs to avoid a messy default but which is fuelling a domestic political and social crisis that has brought thousands of Greeks out on the streets in protest.

05/02/2012 | World

Greek parties handed Monday EU bailout deadline

Greece's coalition parties must tell the European Union by Monday whether they accept the painful terms of a new bailout deal as EU patience wears thin with political dithering in Athens over implementing reforms.

06/02/2012 | World

Merkel, Sarkozy press Greece as another bailout deadline slips

The leaders of France and Germany told Greece time was running out in talks on a broad debt restructuring deal and Athens would only get bailout money from Europe if it lived up to its promise to deliver economic reforms in return.

07/02/2012 | World

Greek parties delay bailout talks despite EU threats

Greek political parties delayed yet again making the tough choice of accepting painful reforms in return for a new international bailout to avoid a chaotic default, seemingly deaf to EU warnings that the euro zone can live without Athens.

23/01/2012 | World

Euro zone ministers reject private bondholders' Greece offer

Euro zone finance ministers rejected as insufficient an offer made by private bondholders to help restructure Greece's debts, sending negotiators back to the drawing board and raising the threat of Greek default.

24/01/2012 | World

Lagarde: IMF resources may grow if euro zone boosts bailout fund

The International Monetary Fund's members may be willing to increase its resources if euro zone states increase the size of their bailout fund, IMF chief Christine Lagarde told Deutschlandradio Kultur in an interview today.

26/01/2012 | World

Greece, creditors edge closer to deal, talks to continue

Greece and its private creditors made progress in talks on restructuring its debt, both sides said, and they will continue negotiating on Friday with the aim of sealing an agreement within a few days.

03/01/2012 | World

Greece must clinch bailout deal or face euro exit, says spokesman

Greece faces an exit from Europe's common currency bloc unless it clinches a deal on a second, 130 billion euro bailout with its international lenders, a government spokesman said today.

17/01/2012 | World

Greeks strike against austerity as EU, IMF visit

Striking Greek workers brought the Athens metro to a standstill today and kept ferries docked to protest against austerity as the country's lenders visited Athens to try to avert a disorderly debt default.

18/01/2012 | World

Greece, creditors in new push to avoid costly default

Greece goes head to head with creditors today amid rising optimism the country can overcome an impasse in talks and hammer out a bond swap deal to stave off a painful default.

06/12/2011 | World

S&P says euro zone bailout fund could be downgraded

Standard & Poor's said today it is considering downgrading the European Financial Stability Facility, the euro zone's bailout fund that is financed by member governments, after saying it could downgrade the majority of euro zone nations.

12/12/2011 | World

Greece opens debt swap, bailout talks

Greece began a round of talks with the EU, the IMF and bankers on Monday, with negotiators facing a tight timetable to decide key aspects of a new bailout plan to pull the country out of its economic crisis.

14/12/2011 | World

IMF says Greece must move faster on reforms

The International Monetary Fund stepped up pressure on Greece, saying promised reforms were behind schedule in most areas and the delays were stalling recovery from years of recession.

16/11/2011 | World

Greek gov’t wins confidence vote

Greece's new coalition government, led by Prime Minister Lucas Papademos, secured enough votes to win a parliamentary vote of confidence as expected today.

17/11/2011 | World

Greek protests as France, Spain face squeeze

More than 30,000 Greeks took to the streets of Athens in a protest rally that marked the first public test for a new national unity government that must impose painful spending cuts and tax rises if the country is to escape bankruptcy.

05/12/2011 | World

IMF approves 2.2 billion euro tranche for Greece

The International Monetary Fund said today its board had approved a 2.2. billion euro loan disbursement to Greece, part of a three-year IMF-EU bailout package to help the country from going bankrupt .

10/11/2011 | World

Lucas Papademos named Greece’s new Prime Minister

Greece named banker Lucas Papademos as head of a new crisis government on Thursday, ending the country's chaotic search for a leader to save it from default, bankruptcy and expulsion from the euro zone.

11/11/2011 | World

Greece: Papademos, cabinet sworn in

Technocrat Prime Minister Lucas Papademos took office to save Greece from bankruptcy, heading a coalition cabinet filled with many of the same politicians who led the nation into crisis and pushed the euro zone to the brink of collapse.

14/11/2011 | World

Greek PM: existing policies have worsened downturn

Greek Prime Minister Lucas Papademos said the policies tied to Athens' international bailout had worsened a recession and pushed unemployment higher, but the problem could be mitigated with reforms.

08/11/2011 | World

Greeks to name new PM, ex-central banker front-runner

Greeks should decide on new Prime Minister in the midst of political domestic and international turmoil. A former deputy head of the European Central Bank, Lucas Papademos, emerged on Monday as frontrunner to become Greece's prime minister.

09/11/2011 | World

Greek leaders struggle to name new Prime Minister

Political leaders were scrambling unsuccessfully today to find a new prime minister to lead Greece back from the brink of bankruptcy, after a plan to name a former central banker ran into trouble.

09/11/2011 | World

Greece: Papandreou steps down, doesn’t reveal new prime minister

Greek political leaders have agreed on a new government, outgoing Prime Minister George Papandreou said today, stepping down to make way for a new coalition government. He did not say who would replace him.

03/11/2011 | World

EC: Greece could not exit euro without leaving EU

If Greece decided to leave the euro, it would also have to quit the European Union, according to the terms of the EU's treaties, the European Commission said today.

06/11/2011 | World

Eurogroup to speed work on strengthening bailout fund

Euro zone finance ministers will speed up work on strengthening their bailout fund on Monday to enhance its market credibility by the end of November, a month early, as concern grows about Italy, euro zone officials said.

07/11/2011 | World

Greek leaders struggle to agree on new premier

Greek party leaders are struggling to agree on a new prime minister, despite EU demands that the political class commit itself fast to the nation's financial salvation and end the chaos threatening the entire euro project.

02/11/2011 | World

Germany urges Greece to stick to the agreed aid plan

Germany's finance minister and other senior officials urged Greece today to stick to the aid plan agreed with the euro zone and IMF and to avoid the dangerous instability posed by the prospect of a referendum on the latest bailout deal.

02/11/2011 | World

Greek PM defies anger to defend referendum plan

Greek Prime Minister George Papandreou said today he would push ahead with a referendum on an EU bailout deal, defying demands from lawmakers of his own party that he quit for jeopardising Greek membership of the euro.

03/11/2011 | World

Greek Papandreou chairs emergency talks over plebiscite controversy

Greece's government was on the brink of collapse today, casting doubt on plans to hold a referendum on staying in the euro zone, as European leaders contemplated a Greek exit to preserve their single currency.

27/10/2011 | World

Greece vows to build on European deal, people skeptical

Greece vowed to press ahead with economic reforms today to capitalize on an EU deal to slash the country's debt, despite anger among its citizens at the prospect of years of painful belt-tightening demanded by foreign lenders.

01/11/2011 | World

Greece risks meltdown after bailout vote bombshell

The Greek government faced possible collapse as ruling party lawmakers demanded Prime Minister George Papandreou resign for throwing the nation's euro membership into jeopardy with a shock call for a referendum.

01/11/2011 | World

Sarkozy, Merkel 'determined' to save Greek bailout plan

Germany's Angela Merkel and France's Nicolas Sarkozy are “determined” to implement the EU bailout plan for Greece. That was the outcome of an emergency phone call between the two chiefs of state ahead of a G20 summit tomorrow.

25/10/2011 | World

IMF considering participation in EU bailout fund

The International Monetary Fund is considering taking part in a special investment vehicle being proposed by the euro zone bailout fund but has not made a decision yet, euro zone officials said today.

25/10/2011 | World

ECB row, Italy flare on eve of euro rescue summit

A flare-up over the European Central Bank and political turmoil in Italy kept the euro zone on edge on the eve of a summit meant to confront the currency bloc's worsening sovereign debt crisis.

27/10/2011 | World

Italians, Greeks skeptical over euro zone rescue plan

A deal struck by euro zone leaders today to contain the region's dangerous debt crisis was greeted skeptically in the two countries most in the firing line, Greece and Italy, with some saying politicians were dreaming.

19/10/2011 | World

Greek parliament gives green light to austerity law

Greek lawmakers gave today initial approval for an austerity law cutting wages and hiking taxes, crucial for the country to receive a next batch of bailout funds and avoid bankruptcy.

20/10/2011 | World

EU agrees on bank capital needs, split over bailout fund

The European Union has agreed that around 100 billion euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the euro zone's bailout fund.

25/10/2011 | World

Greek Prime Minister hopes EU summit to turn page on crisis

Prime Minister George Papandreou said today an EU summit could turn the page on Greece's economic crisis, appealing for unity in his Socialist party to approve austerity measures.

14/10/2011 | World

Greek government vows to pass cuts in 'fight for existence'

Greek Finance Minister Evangelos Venizelos pledged today to pass austerity measures in parliament next week in a "fight for our existence," rallying lawmakers despite mounting opposition from labor unions and within the ruling party's own ranks.

17/10/2011 | World

Greek deficit revised up to 10.6% of GDP

Greece's budget deficit reached 10.6 percent of GDP in 2010, the country's statistics office said today, revising the data slightly up from a previous estimate of 10.5 percent of GDP. Greece faces a crucial test this week, when much of the country is expected to be shut down by a 48-hour strike reaching a peak next Thursday.

19/10/2011 | World

Violent anti-austerity protests grip Greek capital

Greek police cleared the square in front of parliament today after clashing with black-clad demonstrators during a mass anti-austerity rally called to coincide with a vote on a bitterly resented new round of belt-tightening.

04/10/2011 | World

Euro zone considers making banks pay more for Greece

European finance ministers are considering making banks take bigger losses on Greek debt and have postponed a vital aid payment to Athens until mid-November, setting up a crunch point in the euro zone's sovereign debt crisis.

05/10/2011 | World

Clashes in Athens as workers strike

Police fired tear gas at stone-throwing youths in central Athens today, where thousands of striking state sector workers marched against cuts the government says are needed to save the nation from bankruptcy.

07/10/2011 | World

IMF chief: Greece-troika talks not over, hope to end soon

The head of the International Monetary Fund's mission for Greece said a review of the country's progress under a bailout deal would hopefully be concluded positively soon, but talks were not yet finished.

01/10/2011 | World

State job cuts on table at Greek loan talks

Greek officials held talks with EU and IMF negotiators to free up urgently needed bailout loans, but the government and the lenders were reported to be at odds over how to meet a promise to lay off state workers.

03/10/2011 | World

Greek economy stuck in recession, complicates fiscal efforts

The Greek economy will remain stuck in recession next year, underlining the challenge the country faces in creating enough growth to claw its way out of a debt crisis shaking the euro, Greek budget figures showed today.

04/10/2011 | World

Anti-austerity protesters block Greek ministries

Greek public sector workers blocked the entrances to several ministries today to protest against austerity measures, disrupting talks with EU and IMF inspectors on a vital aid tranche.

31/08/2011 | World

Merkel backs euro fund boost, faces skeptics

German Chancellor Angela Merkel's cabinet approved new powers for the euro zone's bailout fund today, kicking off a month-long battle to convince skeptics in her conservative camp to back efforts to contain the bloc's crisis.

22/09/2011 | World

Greeks strike amid pain and anger over austerity

Greek workers staged a 24-hour strike today forcing the transport system to a standstill in protest against the government's intensified austerity drive to secure aid to save the debt-laden country from bankruptcy.

30/09/2011 | World

Sarkozy to meet Merkel in coming days on Greece

French President Nicolas Sarkozy said he would meet German Chancellor Angela Merkel in the coming days in Germany to discuss Greece's debt troubles, calling support for Greece a "moral obligation" for Europe.

13/07/2011 | World

Greek reforms must move faster, IMF says

The IMF said private sector involvement was fundamental to a Greek bailout and urged Athens to move faster on fiscal and structural reforms to avoid debt default.

21/07/2011 | World

Statement by the Heads of State or government of the Euro area and EU Institutions

Statement issued by euro zone leaders after an emergency summit of the 17-nation currency area.

04/08/2011 | World

European Union calls for re-assessment of bailout funds

Today, the European Commission called for a re-assessment of all elements of the euro zone's current and future bailout funds, including size, to persuade markets the euro zone can respond to the debt crisis.

04/07/2011 | World

S&P warning adds default threat to Greece's bailout

Greece would likely be in default if it follows a debt rollover plan pushed by French banks, S&P warned, deepening the pain of a bailout that one European official said will cost Athens sovereignty and jobs.

05/07/2011 | World

Moody's cuts Portugal to junk, warns on 2nd bailout

Moody's cut Portugal's credit standing to junk in the first such move by a ratings agency and warned the country may well need a second round of rescue funds before it can return to capital markets.

12/07/2011 | World

Moody's cuts Ireland to junk, warns of 2nd bailout

Moody's Investors Service cut Ireland's credit rating to junk status, saying the country will likely need further official financing before it can return to international capital markets.

16/05/2011 | World

Euro zone backs Portugal bailout with Finnish conditions

Euro zone finance ministers approved a three-year, 78-billion euro emergency loan programme for Portugal and said Lisbon would ask private bondholders to maintain their exposure to its debt.

20/05/2011 | World

IMF approves 26 billion euro funding for Portugal bailout

The International Monetary Fund approved a 26 billion euro loan for Portugal and said it would immediately disburse 6.1 billion euros of the money to the euro zone member country to ease investor concerns over its debts.

17/06/2011 | World

Greek turmoil: Prime Minister sacrifices finance chief

Greek Prime Minister George Papandreou sacrificed his finance minister today and put his main socialist party rival into the job in a bid to force through an unpopular austerity plan to avert bankruptcy.

12/04/2011 | World

Portugal starts bailout talks; deal seen

Portugal launched talks with European authorities and the IMF on a bailout the caretaker government says is needed to cover the country's financing from June, as politicians jostled ahead of a general election.

03/05/2011 | World

Portugal agrees EU/IMF bailout, Greece deal teeters

Portugal agreed a three-year 78-billion-euro ($116 billion) bailout with the European Union and IMF, making it the third euro zone country in a year, after Ireland and Greece, to need financial help.

12/05/2011 | World

Debt crisis could still spread to EU core: IMF

Despite bailouts for Greece, Ireland and Portugal, Europe's debt crisis could still spread to core euro zone countries and the emerging economies of eastern Europe, the International Monetary Fund warned.

08/01/2011 | World

Germany and France want Portugal to accept aid

Germany and France want Portugal to accept an international bailout as soon as possible in order to prevent its debt crisis spreading to other countries, German magazine Der Spiegel reported.

06/04/2011 | World

Portugal caves in, requests EU financial aid

Portugal's caretaker government said it had decided to seek financing from the European Union in an abrupt turnaround after resisting a bailout for months despite sharply deteriorating financial conditions.

07/04/2011 | World

Euro zone ministers to discuss Portugal's call for aid

Euro zone finance ministers will discuss Portugal's bailout plea, including how much it needs and what reforms it could do in return, but no firm decisions are likely yet, euro zone sources said.

15/12/2010 | World

Ireland passes bailout package despite opposition

Ireland's parliament approved a multi-billion euro EU/IMF bailout package in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks.

16/12/2010 | World

IMF approves Ireland loan, open to re-negotiation

The International Monetary Fund (IMF) approved a 22.5 billion euros loan for Ireland and said it was open to re-negotiating parts of the bailout package with a new government provided its overall targets were adhered to.

20/12/2010 | World

ECB's Trichet: Ireland must stick to bailout plan

European Central Bank head Jean-Claude Trichet said euro zone countries must do more individually and collectively to combat the bloc's debt crisis, and Ireland must stick "rigorously" to its bailout plan.