Eurozone Debt Crisis

Greece on Saturday concluded 12 years of European Union fiscal surveillance that was imposed in return for bailouts after a crushing debt crisis.

The move came after the Greek parliament approved another round of spending cuts and tax increases demanded by international creditors.

Don't panic yet, but the financial market upheaval in recent days is worryingly reminiscent of when the 2008-2009 global financial crisis and the 2011-2012 Eurozone debt crisis were in their early stages.

Time magazine today named German Chancellor Angela Merkel as its "Person of the Year 2015," hailing her leadership for navigating debt and refugee crises that threatened to tear the European Union apart.

The International Monetary Fund (IMF) on Saturday called on Eurozone leaders to offer debt relief to Greece, following the approval of a new third bailout deal.

Having staved off financial meltdown with a new agreement from Greece's international creditors, Tsipras now faces the anger of lawmakers and the public for agreeing to measures much tougher than those rejected in a referendum on July 5.

If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan.

An EU source in Brussels said on Friday that the latest debt proposals from Athens -- which closely resemble the last offer from its creditors before talks stalled -- were "positive" enough to form the basis of a massive new bailout worth 74 billion euros ($82 billion).

State Bank of India (SBI) may delay an overseas bond issuance programme worth $1.5 billion due to volatility in foreign market as a result of the Greek debt crisis.

The euro fell Wednesday after Europe slapped Greece with a deadline to submit fresh bailout reform proposals or face a eurozone exit, while a Chinese stock market rout also spooked traders, sending them into the yen.

Tsipras will face his 18 eurozone counterparts in Brussels as the country's economy gasps for air, with banks closed until at least Thursday amid fears the Greek banking system is imploding.

The euro held steady Tuesday as investors await the next move by European leaders after Greece at the weekend voted against accepting more austerity measures, pushing closer to a eurozone exit.

As the country's economy gasps for air, with banks closed until at least Thursday on fears cash machines are running dry, Germany and France presented a united front, calling on Tsipras to make "precise" proposals in a bid to revive bailout talks.

German Chancellor Angela Merkel and French President Francois Hollande, the euro zone's most powerful leaders, said Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency.

Leaders from Greece and other eurozone countries are looking to see if there is a way to resolve the struggling country's ongoing debt crisis, following a resounding rejection by Greeks of the latest bailout conditions.

Greece on Saturday concluded 12 years of European Union fiscal surveillance that was imposed in return for bailouts after a crushing debt crisis.

The move came after the Greek parliament approved another round of spending cuts and tax increases demanded by international creditors.

Don't panic yet, but the financial market upheaval in recent days is worryingly reminiscent of when the 2008-2009 global financial crisis and the 2011-2012 Eurozone debt crisis were in their early stages.

Time magazine today named German Chancellor Angela Merkel as its "Person of the Year 2015," hailing her leadership for navigating debt and refugee crises that threatened to tear the European Union apart.

The International Monetary Fund (IMF) on Saturday called on Eurozone leaders to offer debt relief to Greece, following the approval of a new third bailout deal.

Having staved off financial meltdown with a new agreement from Greece's international creditors, Tsipras now faces the anger of lawmakers and the public for agreeing to measures much tougher than those rejected in a referendum on July 5.

If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan.

An EU source in Brussels said on Friday that the latest debt proposals from Athens -- which closely resemble the last offer from its creditors before talks stalled -- were "positive" enough to form the basis of a massive new bailout worth 74 billion euros ($82 billion).

State Bank of India (SBI) may delay an overseas bond issuance programme worth $1.5 billion due to volatility in foreign market as a result of the Greek debt crisis.

The euro fell Wednesday after Europe slapped Greece with a deadline to submit fresh bailout reform proposals or face a eurozone exit, while a Chinese stock market rout also spooked traders, sending them into the yen.

Tsipras will face his 18 eurozone counterparts in Brussels as the country's economy gasps for air, with banks closed until at least Thursday amid fears the Greek banking system is imploding.

The euro held steady Tuesday as investors await the next move by European leaders after Greece at the weekend voted against accepting more austerity measures, pushing closer to a eurozone exit.

As the country's economy gasps for air, with banks closed until at least Thursday on fears cash machines are running dry, Germany and France presented a united front, calling on Tsipras to make "precise" proposals in a bid to revive bailout talks.

German Chancellor Angela Merkel and French President Francois Hollande, the euro zone's most powerful leaders, said Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency.

Leaders from Greece and other eurozone countries are looking to see if there is a way to resolve the struggling country's ongoing debt crisis, following a resounding rejection by Greeks of the latest bailout conditions.