eurozone
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Greece seeks bailout, debt breakthroughs

Jun 15, 2017 - 11:42 AM

IMF chief Christine Lagarde and the eurozone s 19 finance ministers meet in Luxembourg with hopes riding high that the talks will secure the release of the latest tranche of Greece s 86 billion euro 97 billion bailout agreed in 2015

Greece, creditors look to debt relief after provisional fiscal deal

May 02, 2017 - 12:39 PM

3rd UPDATE Greece reaches a preliminary deal with its creditors that should pave the way for long awaited debt relief talks the Greek finance minister says

A woman stands by European Union and Greek flags in central Athens on April 21, 2017. Louisa Gouliamaki/AFP

Vatican replaces image of Pope Francis on euro coins

Jan 28, 2017 - 9:36 AM

The EU s official journal on January 24 has published pictures of the Vatican s new coins and they show that Pope Francis image has been replaced

'POPE OF THE POOR.' Pope Francis his greeted by a prelate during the Vespers mass for the solemnity of the conversion of Saint Paul the Apostle on January 25, 2017 at the Basilica of St Paul Outside the Walls in Rome. Photo by Vincenzo Pinto/AFP

Eurozone approves 2.8B euros in bailout funds for Greece

Oct 25, 2016 - 4:05 PM

Following the latest disbursement approved by the European Stability Mechanism ESM Greece will have received 31 7 billion euros of the 86 billion euro bailout granted in July 2015

A man withdraws cash from an ATM machine in Athens on July 19, 2016. Kostis Ntantamis/AFP

Greek MPs vote on reform package amid nationwide strikes

May 08, 2016 - 12:34 PM

Greece s budget deficit has ballooned as it struggles to keep up with mammoth debt payments which the International Monetary Fund believes is unsustainable

SHUTDOWN. Pensioners stand outside a closed branch of the Greek National Bank in Thessaloniki on June 29 as Greece ordered its banks to shut for one week and imposed capital controls. File photo by Sakis Mitrolidis/AFP

Eurozone growth forecast cut as global risks, Brexit loom

May 03, 2016 - 11:00 PM

The European Commission trims its 2016 forecast to 1 6 citing increased global risks

epa03264431 Illustration Picture showing the EU flags in front of the European Commission headquarters in Brussels, Belgium, 14 June 2012. EPA/OLIVIER HOSLET

Italy, Japan urge G7 to spend for growth

May 03, 2016 - 12:15 PM

Prime ministers Matteo Renzi and Shinzo Abe call for greater flexibility on budgetary policies ahead of the G7 Summit

epa05286890 Italian Premier Matteo Renzi (R) welcomes Japanese Prime Minister Shinzo Abe (L) for a bilateral meeting in Florence, Italy, 02 May 2016. Shinzo Abe is in Italy on the occasion of the 150th anniversary of the bilateral relations between Japan and Italy. EPA/MAURIZIO DEGL' INNOCENTI

Why is eurozone inflation so persistently low?

Mar 06, 2016 - 9:25 PM

Here s how oil prices exchange rates wages and corporate investment affect inflation

epa05023363 Clouds are howering over the Finnish capital Helsinki, with the Finnish flag on a boat almost hanging half-mast, Helsinki, Finland, 26 September 2015. Eurozone economic growth slowed in the third quarter of 2015, coming in at a less-than-expected 0.3 per cent compared with the previous three months, according to data released 13 November 2015. The 19-member currency bloc has struggled to rev up its economic engine after emerging from recession in 2013. Inflation is hovering around zero and unemployment is only gradually falling.  Growth in the eurozone's gross domestic product (GDP) continued to slip after dropping from 0.5 per cent in the first quarter and 0.4 per cent in the second, according to an estimate by the European Union's statistics office, Eurostat. Finland is part of Eurozone and it's currently worst performing economy. EPA/MAURITZ ANTIN

Eurozone unemployment at lowest since August 2011

Mar 02, 2016 - 1:10 PM

Unemployment in the 19 nation eurozone drops to 10 3 in January 2016

epa05023342 A general view of the Estonian capital Tallinn, as seen from the Toompea old town of Tallinn, Estonia, 25 September 2015. Eurozone economic growth slowed in the third quarter of 2015, coming in at a less-than-expected 0.3 per cent compared with the previous three months, according to data released 13 November 2015. The 19-member currency bloc has struggled to rev up its economic engine after emerging from recession in 2013. Inflation is hovering around zero and unemployment is only gradually falling.  Growth in the eurozone's gross domestic product (GDP) continued to slip after dropping from 0.5 per cent in the first quarter and 0.4 per cent in the second, according to an estimate by the European Union's statistics office, Eurostat. Estonia is part of Eurozone. EPA/MAURITZ ANTIN

'Brexit' tension mounts as Cameron says 'still no deal'

Feb 19, 2016 - 2:00 PM

European leaders have dug their heels in over Cameron s reform demands which include reducing welfare payments to EU migrants and opting out of a commitment to ever closer union

BREXIT? (L-R) European Council President Donald Tusk, European Commission President Jean-Claude Juncker and British Prime Minister David Cameron hold a meeting at the European Council in Brussels, Belgium, early February 19, 2016. EU leaders are trying to thrash out an agreement with Britain on reforms, amid hopes that they can seal a deal which will convince the country to stay in their bloc. Photo by Dan Kitwood/EPA

Eurozone unemployment falls to lowest in four years

Jan 07, 2016 - 8:48 PM

Unemployment fell to 10 5 in November from 10 6 in October hitting the lowest level since October 2011

WAITING. A pensioner leans against the gate of the National Bank of Greece as he waits to withdraw money, with a maximum of 120 euros, in Athens July 7, 2015. Photo by Angelos Tzortzinis / AFP

APEC 2015: A sense of déjà vu

Nov 12, 2015 - 7:00 PM

The current and former NEDA chiefs compare the Philippine economy on the eve of the country s hosting of the APEC summit in 1996 and in 2015 Then and now the global community saw the country as poised to reach great economic heights

Comeback kid Tsipras storms to victory in Greek election

Sep 21, 2015 - 7:28 AM

Greece s charismatic leftwing leader Alexis Tsipras romps to victory in Greece s general election winning his second mandate as premier this year despite a controversial austerity deal struck with European leaders

VICTORY. Greek radical-left Syriza party leader Alexis Tsipras arrives at the election campaign headquarters of the Syriza party in Athens on September 20, 2015. Photo by Angelos Tzortzinis / AFP

Germany praises Greek stance shift in debt talks

Aug 16, 2015 - 5:52 PM

Germany s finance minister Wolfgang Shaeuble hails Greece but warns that Europe will closely monitor reforms in Athens

Eurozone approves Greek bailout in return for far-reaching reforms

Aug 15, 2015 - 9:58 AM

New loans of up to 86 billion euros 96 billion will be made available over the next 3 years to Greece says the European Commission

APPROVED. President of Eurogroup and Dutch Finance Minister Jeroen Dijsselbloem leaves after a special Eurogroup Finance ministers meeting on the Greek crisis. Eurozone finance ministers on August 14 approved Greece's third bailout package in five years moving within reach of a deal that will commit the near-bankrupt country to wide-reaching reforms in return for urgently needed funds. Photo by Julien Warnand/EPA

Eurogroup must decide Greek debt deal today – France

Aug 14, 2015 - 9:51 PM

The International Monetary Fund believes Greece must get some debt relief if the government is ever to have hope of getting the economy back on its feet

Spanish jobless claims fall in July for 6th straight month

Aug 04, 2015 - 10:20 PM

The improved jobs outlook should provide a boost to conservative Prime Minister Mariano Rajoy as he prepares for what promises to be a hard fought re election campaign at the end of the year

Greek stocks take historic beating as bourse reopens

Aug 03, 2015 - 11:24 PM

Trading resumes after a 5 week shutdown forced by capital controls

Greek PM calls party congress on bailout in September

Jul 30, 2015 - 11:36 PM

Tsipras is under pressure from a sizeable minority of Syriza members who say the agreement signed with international creditors goes against the government s anti austerity promises

Greece prepares to reopen Athens stock market

Jul 29, 2015 - 2:31 AM

The aim was to protect the banking sector which is seen huge withdrawals over the past six months

GREEK ECONOMY. A boy holds a Greek national flag as people celebrate in front of the parliament on July 5, 2015 in Athens. AFP file photo

EU approves emergency loan to Greece

Jul 17, 2015 - 10:55 PM

The EU approves a short term loan of 7 16 billion euros to Greece allowing it to meet a huge payment to the ECB and repay the IMF while a new bailout is still being ratified

WAITING. A pensioner leans against the gate of the National Bank of Greece as he waits to withdraw money, with a maximum of 120 euros, in Athens July 7, 2015. Photo by Angelos Tzortzinis / AFP

ECB, Eurogroup give Greece breathing space after Athens vote

Jul 17, 2015 - 12:29 AM

Athens fails to make a key debt repayment to the International Monetary Fund and its next debt deadline is a 4 2 billion euro payment to the ECB on July 20

epa04573327 A picture taken with a wiping effect shows the 'Euro' sign shines bright in Frankfurt, Germany, 20 January 2015. Financial experts are eagerly expecting the announcement of the European Central Bank (ECB) to acquire state bonds on a large scale after an†ECB meeting to be held on 22 January. EPA/BORIS†ROESSLER

PH peso 2nd least volatile Asian currency so far in 2015

Jul 14, 2015 - 11:44 PM

The peso has moved within acceptable range despite the Greek bailout and China’s stock market collapse

Peña snubbed, Satoru Iwata, Djokovic’s win | 6PM wRap

Jul 13, 2015 - 6:33 PM

Watch the 6PM edition of Rappler s newscast The wRap

Greece faces D-Day after bailout talks halted

Jul 12, 2015 - 8:05 AM

UPDATED Skeptical nations demand more commitments from Athens amid claims Berlin had drawn up an internal paper for Greece to leave the eurozone for 5 years while Finland reportedly decides not to accept any new rescue plan for debt laden Greece

EUROZONE CRISIS. An European Union and Greek flags fly in central Athens on July 4, 2015. Louisa Gouliamaki/AFP

Greece faces 'difficult' eurozone judgment day

Jul 12, 2015 - 12:49 AM

Can the Greek government be trusted to do what they are promising in coming weeks months and years?

'Major' decision on Greece on July 11

Jul 11, 2015 - 12:44 AM

A make or break summit bringing together leaders of all 28 EU nations not just the 19 that use the euro is due to be held on Sunday July 12

WAITING. A homeless man sleeps in a cardboard box outside a closed shop in the center of Athens on July 5, 2015. Photo by Andreas Solaro / AFP

Greek PM vows 'credible' reforms as deadline looms

Jul 09, 2015 - 11:07 AM

As Greece says its banks will stay closed and ATM withdrawals will remain limited until Monday July 13 in a sign of the deepening crisis gripping the country Tsipras also promises his blueprint for a new deal will have substance

PROMISES. Greek Prime Minister Alexis Tsipras (C, standing) delicers his speech during the plenary session at the European Parliament in Strasbourg, France, July 8, 2015. Patrick Seeger/EPA

Greece given July 12 debt deal deadline

Jul 08, 2015 - 9:19 AM

UPDATED Greece s leftist government must submit detailed reform plans by Thursday July 9 EU President Donald Tusk says after eurozone leaders held an emergency summit with Greek Prime Minister Alexis Tsipras

DEAL OR NO DEAL? Greek Prime Minister Alexis Tsipras leaves at the end of an Eurozone summit at the European Council headquarters in Brussels, Belgium, July 7, 2015. Laurent Dubrule/EPA

Europe demands new Greek debt plan at crisis summit

Jul 07, 2015 - 5:40 PM

Alexis Tsipras will face his 18 eurozone counterparts in Brussels as the country s economy gasps for air

A Greek and a European Union flag flutter in front of the Acropolis hill in Athens, Greece,  July 7, 2015. Orestis Panagiotou/EPA

EU's Juncker wants 'to avoid Grexit'

Jul 07, 2015 - 4:07 PM

Juncker says the EU will continue to work to re open negotiations with Athens but tells Greek Prime Minister Alexis Tsipras it is time to get to the point

In this photo, EU Commission President Jean Claude Juncker holds a joint news conference during the launch of the Luxembourg Presidency of the Council of the European Union 2015 in Luxembourg, July 3, 2015. Julien Warnand/EPA

Germany, France demand 'serious' proposals from Greece after 'No' vote

Jul 07, 2015 - 9:54 AM

It is now up to the government of Alexis Tsipras to make serious credible proposals so that this willingness to stay in the eurozone can translate into a lasting program

UNITED FRONT. French President Francois Hollande and German Chancellor Angela Merkel arrive to deliver a speech to the press following a crisis meeting at the Elysee Palace regarding Greece, in Paris, France, July 6, 2015. Etienne Laurent/EPA

Greece resists, Philippines submits

Jul 07, 2015 - 9:00 AM

The history of these last three decades could have been different had we had a government that had more spine like those of Nestor Kirchner in Argentina and Alexis Tsipras in Greece

10 days in the Greek debt crisis

Jul 07, 2015 - 12:22 AM

Greek voters defiant rejection of the terms of an international bailout in Sunday s referendum caps a dramatic week for the country in its standoff with EU IMF creditor who are demanding tough austerity measures in exchange for further rescue funds

WAITING. A homeless man sleeps in a cardboard box outside a closed shop in the center of Athens on July 5, 2015. Photo by Andreas Solaro / AFP

Europe scrambles to respond to Greek 'No' on bailout

Jul 06, 2015 - 8:44 AM

European leaders react with a mix of dismay and caution after Greek voters defy their warnings and vote No in a historic referendum

CELEBRATION. Supporters of the 'No' campaign react after the results of the referendum in Athens, Greece, 05 July 2015. Orestis Panagiotou/EPA

Eurozone in tailspin after Greece votes 'No' to bailout

Jul 06, 2015 - 8:24 AM

UPDATED Greek voters overwhelmingly reject international creditors tough bailout terms but premier Alexis Tsipras insists the result does not mean a rupture with Europe despite fears it will end in a Grexit from the eurozone

'OXI' WINS. A boy holds a Greek national flag as people celebrate in front of the parliament on July 5, 2015 in Athens after early results showed those who rejected further austerity measures in a crucial bailout referendum were poised to win. Iakovos Hatzistavrou/AFP

Polling opens in crucial Greece bailout referendum

Jul 05, 2015 - 12:32 PM

UPDATED Greek voters head to the polls to vote in a historic tightly fought referendum on whether to accept worsening austerity in exchange for more bailout funds in a gamble that could see it crash out of the euro

An European Union and Greek flags fly in central Athens on July 4, 2015. Louisa Gouliamaki/AFP

On the edge: Split Greece braces for bailout referendum

Jul 05, 2015 - 9:37 AM

Greece hurtles toward a crunch bailout referendum which could determine its financial future and even its place in the eurozone

GRIEF. A July 3, 2015 shows Giorgos Chatzifotiadis, sitting on the ground crying outside a national bank branch, as pensioners queue to withdraw their pensions, with a limit of 120 euros, in Thessaloniki. Retiree Giorgos Chatzifotiadis had queued up at three banks in Greece's second city of Thessaloniki in the hope of withdrawing a pension on behalf of his wife, but all in vain. When he was told at the fourth that he could not withdraw his 120 euros ($133), it was all too much and he collapsed in tears. Sakis Mitrolidis/AFP

Defiant PM rejects Grexit fears as he rallies 'No' vote

Jul 04, 2015 - 10:29 AM

Greece s Prime Minister Alexis Tsipras tells the crowd of 25 000 cheering supporters: We are not simply deciding to remain in Europe – we are deciding to live with dignity in Europe

YES OR NO? Greek Prime Minister Alexis Tsipras addresses supporters of a 'NO' voting in the Prime Minister's referendum on bailout terms to be held on July 5, at Syntagma Square in Athens, Greece, July 3, 2015. Photo by Yannis Behrakis/POOL/EPA

Filipinos on Greek debt crisis: 'Slow death'

Jul 01, 2015 - 11:24 PM

Greece’s creditors are demanding substantial cuts in the government’s pension spending which currently amounts to about 17 5 of the country’s GDP

Greece on the brink after Europe refuses bailout

Jun 28, 2015 - 9:04 AM

UPDATED Greek Prime Minister Alexis Tsipras says he is confident that the Greek people will say an emphatic no to the ultimatum by the country s EU IMF creditors but a big yes to European solidarity

UNION IN DANGER. Protesters hold a Greek and a EU flag outside the parliament during a rally demanding Greece to remain in the Eurozone in Athens, Greece, June 22, 2015. Simela Pantzartzi/EPA

Europe ejects Greek bailout extension after referendum shock

Jun 27, 2015 - 11:51 PM

UPDATED The decision leaves debt laden Athens struggling to meet a crucial 1 5 billion euro IMF debt payment on June 30 putting Greece s place in the single currency at risk

EU CENTRAL BANK. Time is running out for Greece. File photo by Daniel Roland/Agence France-Presse

Greece referendum kills bailout deal hopes –EU

Jun 27, 2015 - 10:26 PM

That is a sad decision for Greece because it has closed the door for further talks where the door was still open in my mind says Eurogroup leader Jeroen Dijsselbloem

REFERENDUM. A general view shows a TV screen displaying Greek Prime Minister Alexis Tsipras announcing a July 5 referendum, wherein voters will decide whether their government should accept an economic reform package put forth by Greece's creditors. Photo by Simela Pantzartzi/EPA

Greece's Tsipras in crunch debt talks with creditors

Jun 25, 2015 - 8:22 AM

The parties agree to resume the talks at 0700 GMT Thursday morning in hopes of finalizing a deal in time to present it at a meeting of eurozone finance ministers later in the day

OFF THE CLIFF? A man passes by a graffiti showing a euro sign and a car in the colors of Greece jumping off on the wall of an old house in Athens, Greece, on June 24, 2015. Simela Pantzartzi/EPA

Europe closes in on Greece debt deal

Jun 23, 2015 - 8:44 AM

European Commission chief Jean Claude Juncker says he is convinced they could end the 5 month stand off with the leftist Greek government led by Prime Minister Alexis Tsipras

UNION IN DANGER. Protesters hold a Greek and a EU flag outside the parliament during a rally demanding Greece to remain in the Eurozone in Athens, Greece, June 22, 2015. Simela Pantzartzi/EPA

Greece deal in doubt at crucial debt talks

Jun 22, 2015 - 9:59 PM

Greece s international creditors pour cold water on the chances of a breakthrough at an emergency summit aimed at finding a deal to save Athens from default and a possible exit from the euro

SHUT DOWN. Women walk past a shuttered, graffitied store in central Athens on March 30, 2015. Photo by Louisa Gouliamaki / AFP

Greece deal urged as new proposals offered ahead of debt summit

Jun 22, 2015 - 7:42 AM

UPDATED The heads of the 19 eurozone countries will hold an emergency summit on the crisis in Brussels under pressure to prevent Greece from defaulting on its debt

Protesters take part in a rally against austerity and in support of the government in the negotiations with Greece's international creditors, in Syntagma square in Athens, Greece, June 21, 2015. Simela Pantzartzi/EPA

Greece submits fresh plan on eve of EU emergency summit

Jun 21, 2015 - 9:45 PM

Pressure is mounting to find a way of preventing Greece finally defaulting on its debt repayments with an emergency summit of the 19 eurozone countries set on Monday

DEBT CRISIS. Demonstrators wave European and Greek flags as they stand on the parliament in Athens, Greece, June 18, 2015. Eurozone finance ministers failed to find a breakthrough in the Greek bailout crisis, European Commission Vice President Valdis Dombrovskis said. Photo by Yannis Kolesidis/EPA

Athens working to make eurozone crisis summit a 'success'

Jun 19, 2015 - 2:54 PM

EU President Donald Tusk calls for an emergency summit of the leaders of the 19 eurozone countries on Monday after finance ministers failed to break the five month old deadlock between the anti austerity government in Athens and its EU IMF creditors

PROTEST. Protesters stand on the parliament as they take part in a rally demanding that Greece remains in the Eurozone, in Athens, Greece, June 18, 2015. Photo by Yannis Kolesidis/EPA

Eurozone looks at 'worst case' Greek default scenario

Jun 13, 2015 - 8:33 AM

The 5 month standoff over the refusal by Greece to agree on reforms demanded by its creditors is set to reach a climax at a meeting of finance ministers in Luxembourg on June 18

WORST CASE SCENARIO. View of the Acropolis hill on a cloudy day, in Athens, Greece, February 23, 2015. Fears had been rife that without a European bailout extension, Greece would run out of money and be forced to leave the eurozone. Photo by Orestis Panagiotou/EPA