Greek Economy

Greek Economy News

• Troika to Have Permanent Presence in Greece, Wieser Tells Format

  The “troika” of the European Commission, International Monetary Fund and European Central Bank will have a permanent presence in Greece, Eurogroup Working Group head Thomas Wieser told Austria’s Format magazine.

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  IMF Says Global Economy Is Still Facing Major Risk From Europe

  The global economy faces “major downside risks” as its recovery continues to be threatened by stresses in the euro area, the International Monetary Fund said in a report prepared for the Group of 20 nations.

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  Euro Finance Ministers Set to Approve Greek Rescue Plan as Leaders Gather

  Euro-area finance ministers are set to clear a second rescue for Greece today to avoid what Italian Prime Minister Mario Monti described as a potential “brutal outcome” for the Greek economy.

• Schaeuble Expects Greek PSI Done in 2 Weeks If Conditions Met

  German Finance Minister Wolfgang Schaeuble said he expects Greece to complete a debt-swap deal with private creditors in two weeks if all conditions are met.

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  Papademos Rejects Call for Special EU Commissioner for Greece

  Greek Prime Minister Lucas Papademos rejected a call to appoint a special European Union official to oversee Greece’s economy, hours before euro-area finance chiefs are due to discuss the nation’s rescue package.

• Coca-Cola HBC Cuts Production at Two Greek Plants as Sales Fall

  Coca-Cola Hellenic Bottling Co SA, the world’s second-biggest bottler of Coke beverages, will cut its production plants in Greece to three from five as the recession hits revenue in the country.

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  Greek Parliament Votes on Pension, Health-Care Cuts to Secure Aid Package

  Greece’s parliament votes today on state pension and health-care cuts after the chamber yesterday ratified a 3.2 billion-euro ($4.3 billion) package of spending reductions to the 2012 budget.

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  Merkel Wins Greek Aid Vote in Parliament After Defying Backlash on Bailout

  Chancellor Angela Merkel won a parliamentary vote on Greek aid after warning German lawmakers that pushing Greece out of the euro would risk “incalculable” damage, defying a public backlash against more bailout funds.

• Treasuries Rise After Group of 20, Pushing 10-Year Yields to One-Week Low

  Treasuries rose, pushing 10-year note yields to the lowest level in more than a week, after Group of 20 nations rebuffed German-led calls for financial support to contain Europe’s sovereign-debt crisis.

• Austrian Lending, Greek Debt Swap, Threadneedle: Compliance

  Austria’s regulators are discussing rules for its top banks that will curb excessive lending in eastern Europe with the European Commission, according to the Central Bank Governor Ewald Nowotny.

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Greek Economy Videos

Audio

• Hopkins’s Hanke Says Greek Economy Is ‘Imploding’

• Millennium's Mauldin Says Greek Economy to Collapse

• Laidi & Shilling Discuss Greek Economy

• Ken Fisher Says Greece's Economy "Is Toast"

• Chapin Hill's Boyle Discusses Greek Economy