Greece Bail-out

Greece's new bail-out deal imposes a stiff dose of budget rigour and market deregulation which critics say few leaders of Western Europe's biggest nations have dared serve their own voters.

The head of the World Bank said today that Europe's bail-out of the Spanish banking system had been handled very badly and amounted to a wasted opportunity to contain the debt crisis.

German Chancellor Angela Merkel has expressed optimism that heavily-indebted Greece will receive the next tranche of financial rescue funds from the European Union and the International Monetary Fund (IMF) to avert a debt default next month. She assured visiting Greek Prime Minister George Papandreou of Germany's "full support" for his count...

In a matter of minutes, the Dow Jones industrial average tumbled about 565 points, losing almost 1,000 points on the day. The Standard & Poor's 500-stock index and the Nasdaq followed suit. Computer programs intensified the selloff as market fell through some limits.

Greece's new bail-out deal imposes a stiff dose of budget rigour and market deregulation which critics say few leaders of Western Europe's biggest nations have dared serve their own voters.

The head of the World Bank said today that Europe's bail-out of the Spanish banking system had been handled very badly and amounted to a wasted opportunity to contain the debt crisis.

German Chancellor Angela Merkel has expressed optimism that heavily-indebted Greece will receive the next tranche of financial rescue funds from the European Union and the International Monetary Fund (IMF) to avert a debt default next month. She assured visiting Greek Prime Minister George Papandreou of Germany's "full support" for his count...

In a matter of minutes, the Dow Jones industrial average tumbled about 565 points, losing almost 1,000 points on the day. The Standard & Poor's 500-stock index and the Nasdaq followed suit. Computer programs intensified the selloff as market fell through some limits.