The Greek parliament voted late on Sunday to adopt a law that provides for the dismissal of 15,000 civil servants as part of austerity measures imposed by the country’s international creditors.Thursday, 29 August, 2013, 4:13am
Cyprus postponed an emergency debate in parliament on a controversial EU bailout on Sunday, threatening a prolonged closure of the island’s banks as MPs baulk at an unprecedented tax on savings.29 Aug 2013 - 4:13am
Euro zone finance ministers struck a new deal with the IMF early on Tuesday to slice more than 40 billion euros (US$52 billion) off Greece’s massive debt burden by 2020 – in turn freeing up long-blocked loans.29 Aug 2013 - 4:13am
Dozens of European and Asian leaders gathered in impoverished Laos on Monday for a major summit dominated by the euro zone debt crisis and growing territorial tensions in the region.29 Aug 2013 - 4:13am
Portugal’s government is taking the bailed-out country deeper into austerity, announcing sharp tax increases next year that risk worsening a recession and stoking public discontent.
The draft budget for next year is one of the harshest in the country’s recent history and will take away the equivalent of a month’s wages from many workers.29 Aug 2013 - 4:13am
Senior finance officials from Asia and Europe met on Monday for talks on the global economy in the face of growing nervousness about the worldwide fallout of the euro zone debt crisis.
The meeting in Bangkok comes as Asia’s economies – for years seen as a bright spot in a gloomy world economy – show increasing strains from Europe’s financial turbulence.29 Aug 2013 - 4:13am
German Foreign Minister Guido Westerwelle will travel to China on Wednesday with a delegation of major business figures to mark 40 years of diplomatic relations between the countries, a spokesman said.29 Aug 2013 - 4:13am
The IMF prodded the world’s rich countries for swifter action on Thursday as Europe’s debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.29 Aug 2013 - 4:13am
The International Monetary Fund said European banks may need to sell as much as US$4.5 trillion in assets to 2013 if policymakers fall short of pledges to stem the fiscal crisis, up 18 per cent from its April estimate.11 Oct 2012 - 1:11pm
Tens of thousands of angry Greek protesters filled the streets of Athens to greet German Chancellor Angela Merkel, who offered sympathy but no promise of further aid. Police fired teargas and stun grenades to hold back crowds chanting anti-austerity slogans and waving Nazi flags while Merkel’s host, Prime Minister Antonis Samaras, welcomed her as a “friend” of Greece.29 Aug 2013 - 4:13am
The EU warned on Monday of an “economic and social disaster” if joblessness among young Europeans continued to rise, calling for a joint effort to combat record high unemployment in the countries which share the euro.29 Aug 2013 - 4:13am
Chinese Premier Wen Jiabao meets Europe’s leaders this week as the world’s second-biggest economy faces headwinds from the continent’s debt crisis and amid tensions over trade.29 Aug 2013 - 4:13am