Fri, May 24 2013
A man walks next to a kiosk selling Greek flags in Athens, February 21 2012.
With Greece planning to pay back the remaining debt it owes to the financial institutions over an extended period, those that bought the Greek bonds will ultimately lose about three-fourths of their investments.
Private investors have until 8pm GMT on March 8 2012 to agree to the debt swop on the 206 billion euro of Greek bonds they hold. But by March 7, agreements had only been reached covering 46 per cent of the debt.
ECB temporarily suspends Greek bonds’ eligibility for use as collateral in Eurosystem monetary policy operations. Standard and Poor's has classified Greek debt as in ‘selective default’ while Moody's says the risk of Greece defaulting on its loans ‘remains high’.
Is inflation going to go crazy or will austerity help keep it under control?
The bailout will reduce Greece's government debt from about 160 per cent of the country's GDP to just more than 120 per cent by 2020
The finance chiefs of the 17 nations that use the euro are set to make a Greek bailout decision when they meet on February 20 2012 in Brussels.
Police say the thieves overpowered a museum guard on February 17 2012 and seized valuable bronze and pottery artifacts from the museum.
Even as officials struggle to keep Greece's economic woes from spreading to other nations, the battle over the latest bailout is taking a psychological toll. In Greece, and across Europe, these economic worries are turning to gloom.
Problems compounded by Bulgaria and Macedonia having stopped electricity exports and Turkey halting gas supplies to Greece.
Analysts think leaving Greece out of the eurozone may be a better solution than austerity measures
The upcoming EU summit on March 1 and 2 must address growth, members of the European Parliament said.
Governments in Prague and Bucharest could soon join Sofia in instituting temporary moratoriums on shale gas exploration.
Coalition around ruling Democratic Party has largest share of vote in Serbia's parliamentary election, according to exit polls.
Centre-right New Democracy is said by exit polls to have largest share of votes, but diminished even from its 2009 defeat, while socialists Pasok – the 2009 victors – gets somewhere around 14 to 17 per cent.
An agreement reached with the Organisation for Security and Cooperation in Europe (OSCE) will allow voters with dual citizenship in Kosovo to vote in the upcoming parliamentary and presidential elections in Serbia.
Twenty radical Muslims suspected of being members of a terrorist group that has been linked to the murder of five fishermen in early April.