Greek Bankruptcy

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.

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.

Fears of a Greek bankruptcy persisted even as the country's finance minister said on Monday that it was close to a deal with its lenders that would help it meet debt repayments next month.

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.

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.

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.

Greek political leaders on Sunday ignored a final plea from the president to form a coalition government to avert a repeat election, pushing the debt-stricken nation closer to bankruptcy and a possible exit from the euro zone.

Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people hurt. The historic vote paves the way for Greece's European partners and the International Monetary Fund to rele...

Greece's parliament has approved an austerity and debt-relief bill, crucial for the country to avoid bankruptcy and remain in the eurozone. Lawmakers voted early Monday in favor of the bill that imposes harsh new austerity measures in return for a euro 130 billion ($171 billion) new bailout agreement and related deal with private creditors to shave...

Eurozone finance ministers put off a decision on Thursday on a new bailout to save Greece from bankruptcy, giving Athens less than a week to meet three conditions in return for 130 billion euros in aid.

Greek leaders on Tuesday will seek an agreement on harsh cutbacks demanded to avoid looming bankruptcy.

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.

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.

Fears of a Greek bankruptcy persisted even as the country's finance minister said on Monday that it was close to a deal with its lenders that would help it meet debt repayments next month.

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.

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.

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.

Greek political leaders on Sunday ignored a final plea from the president to form a coalition government to avert a repeat election, pushing the debt-stricken nation closer to bankruptcy and a possible exit from the euro zone.

Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people hurt. The historic vote paves the way for Greece's European partners and the International Monetary Fund to rele...

Greece's parliament has approved an austerity and debt-relief bill, crucial for the country to avoid bankruptcy and remain in the eurozone. Lawmakers voted early Monday in favor of the bill that imposes harsh new austerity measures in return for a euro 130 billion ($171 billion) new bailout agreement and related deal with private creditors to shave...

Eurozone finance ministers put off a decision on Thursday on a new bailout to save Greece from bankruptcy, giving Athens less than a week to meet three conditions in return for 130 billion euros in aid.

Greek leaders on Tuesday will seek an agreement on harsh cutbacks demanded to avoid looming bankruptcy.