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Greece Business - Page 3

Merkel wants 'substantial' bank aid for Greek debt
(AFP)



AFP - German Chancellor Angela Merkel Saturday urged "substantial" aid from private creditors to resolve Greek debt woes, as the Eurogroup warned the crisis could spread like a firestorm through EU economies. Source: Yahoo! News: Business - European Economy

Business Greece

Greece approves key budget vote

Greek MPs vote in favour of an unpopular government austerity package, paving the way for new loans to avert a major financial crisis. Ref. BBC

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Euro zone approves further $17.4 billion for Greece (Reuters)


Reuters - Euro zone finance ministers agreed on Saturday to disburse a further 12 billion euros ($17.4 billion) to Greece and said the details of a second aid package for Athens would be finalised by mid-September.
Source: Yahoo! News: Business - European Economy

Page 3 Business Greece

Greece Downgraded To Pre-Default By Moody's:

Greece suffered a multi-notch credit downgrade at the hands of Moody's on Monday. Its sovereigns were dropped to Caa1, from Ca, indicating that private sector holders of Greek debt will incur losses. Ref. Source 9

Business Greece

Greek pledges to meet fiscal targets amid protests (AP)


AP - Greece will meet ambitious savings targets despite a deepening recession this year, the prime minister said Saturday, to secure the continued flow of international rescue loans that are protecting the debt-crippled country from a catastrophic bankruptcy.

Source: Yahoo! News: Business - European Economy

Greece Business

Worries over Greece hit world stocks

Growing fears of a Greek default have hit global sharemarkets and the euro overnight. Ref. Source 6

Greece Business - Page 3

Greek officials: Bailout referendum scrapped

Two officials close to the Greek prime minister say he has abandoned his plan to hold a referendum on the latest European debt deal for Greece. Ref. USAToday

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ECB policymaker wants banks off Greece bailout hook (Reuters)


Reuters - European Central Bank policymaker Athanasios Orphanides called for euro zone leaders to abandon plans to make private sector investors help reduce Greece's debts, but his push showed no sign of gaining any traction in Europe's capitals on Friday.
Source: Yahoo! News: Business - European Economy