Tag

Futures for the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE 100 all fell by 0.4-0.5 percent. The British pound was down 0.2% against the dollar.

Shares on the Athens Stock Exchange are suffering huge losses of over 22 percent after the market reopened for the first time in more than a month.

The European Union agreed that this position was “fully compatible” with its own agenda on a Greek bailout, which could be worth up to €86 billion (RM361.97 billion).

Don Gimbel, global portfolio manager of Geneva Advisors in Chicago – who oversees $9 billion – asks, “Why would anybody want to be invested in a controlled market?”

Play video “Greece Crisis: Brain Drain To UK”.

If the talks are not completed in time, European authorities may have to provide further temporary financing as they did with a July bridge loan, though Avgi said that possibility had not been discussed with lenders.

Mr. Gkoutzinis added that for investor confidence in the Greek market to be rekindled, the risk of Greece exiting the eurozone, and the risk of Greece defaulting on its financial liabilities would need to be off the table “once and for all”.

An IMF official said the Fund would approve new loans for Greece only if Athens reached a deal with European governments that would ensure it can pay its debts, and there was “no expectation” that talks over the next couple of weeks would get to the point where the...

The global Monetary Fund can not participate in another Greek bailout until Greece and its creditors make hard decisions on economic reforms and debt relief, a fund official said Thursday.

But a European source said it was not yet confirmed that the talks would begin Friday, adding that at most “only a few people” from the so-called troika of creditors would arrive before the weekend.

ATHENS, July 31 Greece’s ruling Syriza party on Thursday backed a call from Prime Minister Alexis Tsipras for an emergency party congress, as he sought to assert authority following a revolt by hardliners on his handling of bailout talks. European governments have resisted...

“This would have created a parallel banking system, which would have given us some breathing space, while the banks would have been shut due to the ECB’s aggressive policy”, Varoufakis was quoted as saying.

“We are satisfied with the smooth and constructive cooperation with the Greek authorities, and that should now allow us to progress as swiftly as possible”, Mina Andreeva, a European Commission spokeswoman, said in Brussels.

“I have been in politics myself”, International Monetary Fund Managing Director Christine Lagarde said during an online news conference. Although the global economy is recovering, Lagarde said, growth is still “fragile” and “faces a few downside...

Greece’s Supreme Court has forwarded complaints filed by a prosecutor and a mayor to parliament.