Greece Bankruptcy

In parliament overnight, Alexis Tsipras had to rely on opposition votes from the right after some of his leftist allies opposed spending cuts, tax rises and other measures he proposed in order to unlock 54 billion euros in three-year credit and save Greece from a bankruptcy that would force it out of the euro zone.

European Central Bank President Mario Draghi has voiced unprecedented doubts about the chances of rescuing Greece from bankruptcy as Greek Prime Minister Alexis Tsipras was due to put forward last-ditch reform proposals today.

EU chief executive Jean-Claude Juncker launched a last-ditch drive on Sunday to persuade Greece to agree a funding deal to save it from bankruptcy this week as Brussels insisted the "door is still open" for negotiations.

Greece delayed repayment of an IMF loan today and a deputy minister said Athens might call snap elections to break an impasse with lenders that threatens to push the country into bankruptcy and out of the euro.

Athens and its euro zone and International Monetary Fund (IMF) creditors have been locked in talks for months on a reforms agreement. Without a deal, Athens risks default or bankruptcy in weeks.

Greece needs to strike a deal with its creditors by the end of the month to stay afloat, the government said on Monday, as investors ditched Greek bonds in a sign of growing concern about possible bankruptcy.

Greece is burning through its cash reserves and will not be able to meet payment obligations beyond the end of March at the latest, unless it secures additional funds from its creditors, a person familiar with the figures told Reuters on Wednesday.

An anti-bailout party in Greece is leading in opinion polls before this weekend's local government and European elections, and is vowing to scrap international agreements that rescued the country's economy from bankruptcy at the cost of harsh austerity.

International lenders struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros to stave off bankruptcy, a senior euro zone official said. Cyprus is the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help in the wake of the sovereign debt crisis that started in 2010.

When it came to helping out Greece, Ireland and Portugal, Germany grudgingly went along with its European partners and backed hundreds of billions in rescue loans. But now that tiny Cyprus is in trouble, German politicians for the first time appear in no mood to help - which could put the Mediterranean island country on the path to bankruptcy and o...

Greece has avoided imminent bankruptcy after its international creditors finally agreed to give it the money it urgently needs but the cash-strapped country's economic distress is likely to drag on for years to come.

Asian shares rose on Monday on the hope Greece can avoid a near-term bankruptcy, with euro-zone finance ministers meeting later in the day, but a regional Spanish vote favouring separatist parties clouded Madrid's push for fiscal austerity.

Greek lawmakers approved the country's 2013 austerity budget early Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt.

The European Central Bank has secured interim financing for Greece in the form of additional emergency loans

Greece abandoned a nine-day hunt for a government on Tuesday and called a new election that may hand victory to leftists who might cut the nation's financial lifeline, pushing it closer to bankruptcy and out of the euro zone.

In parliament overnight, Alexis Tsipras had to rely on opposition votes from the right after some of his leftist allies opposed spending cuts, tax rises and other measures he proposed in order to unlock 54 billion euros in three-year credit and save Greece from a bankruptcy that would force it out of the euro zone.

European Central Bank President Mario Draghi has voiced unprecedented doubts about the chances of rescuing Greece from bankruptcy as Greek Prime Minister Alexis Tsipras was due to put forward last-ditch reform proposals today.

EU chief executive Jean-Claude Juncker launched a last-ditch drive on Sunday to persuade Greece to agree a funding deal to save it from bankruptcy this week as Brussels insisted the "door is still open" for negotiations.

Greece delayed repayment of an IMF loan today and a deputy minister said Athens might call snap elections to break an impasse with lenders that threatens to push the country into bankruptcy and out of the euro.

Athens and its euro zone and International Monetary Fund (IMF) creditors have been locked in talks for months on a reforms agreement. Without a deal, Athens risks default or bankruptcy in weeks.

Greece needs to strike a deal with its creditors by the end of the month to stay afloat, the government said on Monday, as investors ditched Greek bonds in a sign of growing concern about possible bankruptcy.

Greece is burning through its cash reserves and will not be able to meet payment obligations beyond the end of March at the latest, unless it secures additional funds from its creditors, a person familiar with the figures told Reuters on Wednesday.

An anti-bailout party in Greece is leading in opinion polls before this weekend's local government and European elections, and is vowing to scrap international agreements that rescued the country's economy from bankruptcy at the cost of harsh austerity.

International lenders struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros to stave off bankruptcy, a senior euro zone official said. Cyprus is the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help in the wake of the sovereign debt crisis that started in 2010.

When it came to helping out Greece, Ireland and Portugal, Germany grudgingly went along with its European partners and backed hundreds of billions in rescue loans. But now that tiny Cyprus is in trouble, German politicians for the first time appear in no mood to help - which could put the Mediterranean island country on the path to bankruptcy and o...

Greece has avoided imminent bankruptcy after its international creditors finally agreed to give it the money it urgently needs but the cash-strapped country's economic distress is likely to drag on for years to come.

Asian shares rose on Monday on the hope Greece can avoid a near-term bankruptcy, with euro-zone finance ministers meeting later in the day, but a regional Spanish vote favouring separatist parties clouded Madrid's push for fiscal austerity.

Greek lawmakers approved the country's 2013 austerity budget early Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt.

The European Central Bank has secured interim financing for Greece in the form of additional emergency loans

Greece abandoned a nine-day hunt for a government on Tuesday and called a new election that may hand victory to leftists who might cut the nation's financial lifeline, pushing it closer to bankruptcy and out of the euro zone.