Obama In Greece

Barack Obama arrived in Greece on Tuesday on his last European tour as US president, and Athens said it held out hope that he will use his clout to help persuade the country's creditors to forgive some of its monumental debt.

US President Barack Obama will head to Greece, Germany and Peru next month for what could be his final trip abroad before leaving the White House in January, his office said Tuesday.

President Barack Obama spoke by telephone with German Chancellor Angela Merkel on Tuesday to discuss the Greece debt crisis before his talks with Greek Prime Minister Alexis Tsipras, the White House said.

Greece was teetering on the brink of a default that could see it crash out of the euro hours before a key debt deadline was due to expire today,as the country's prime minister warned Athens's coffers were empty.

US President Barack Obama weighed in Monday on the Greece crisis, telling Greeks they need to make tough choices to save their country from a default and possible messy euro exit.

Markets were also eyeing developments in Ukraine. US President Barack Obama signalled on Monday he will wait for the results of high-stakes talks on Ukraine before deciding whether to arm the Kiev government.

Greece's new left-wing government can boast some high-profile allies, from Nobel economics laureates to US President Barack Obama, in its controversial drive against austerity in Europe.

Italy on Monday issued mixed signals over whether it would back Greece in its fight for a renegotiation of its huge debts to international lenders.

The eurozone is grappling with sky-high debt levels and record unemployment of 11.2 per cent. Compared with the year before, the eurozone's economy is 0.4 per cent smaller. The region's economy would have slipped into recession had it not been for better-than-expected GDP figures from its two leading economies, Germany and France.

Rumours that the ECB would cut rates and that EU leaders might emerge from this week's meetings with a plan helped recovery.

The G20 leaders are expected to adopt a Los Cabos Action Plan, pledging to promote economic growth and jobs, investing in infrastructure and promoting trade, while sticking to its pledges to bring down budget deficits.

Europe's debt crisis has frayed nerves around the world for months. Now signs of weakness in the US jobs market and in Chinese factory output give policymakers even more reason to be afraid. Markets across Asia fell sharply on Monday morning. A dark cloud will hang over US Federal Reserve Chairman Ben Bernanke when he testifies before lawmakers on ...

Persistent political divisions — neatly bridged by a Group of Eight summit statement that advocates a mix of austerity and growth promotion — and lack of money stand in the way of a comprehensive European growth strategy. Analysts said markets were likely to look past the verbal deal, with news about Greece's struggle to stay in the eurozone an...

President Barack Obama, wrapping up the G8 summit, welcomed Europe's focus on rekindling growth and warned the crisis in the euro zone was dangerous for the world.

World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil. A summit of the G8 leading industrialized nations came down solidly in favor of a push to balance European austerity - an approach long driven by German Chancellor Angela Merkel - with a new dose of U.S.-style stimulus...

Barack Obama arrived in Greece on Tuesday on his last European tour as US president, and Athens said it held out hope that he will use his clout to help persuade the country's creditors to forgive some of its monumental debt.

US President Barack Obama will head to Greece, Germany and Peru next month for what could be his final trip abroad before leaving the White House in January, his office said Tuesday.

President Barack Obama spoke by telephone with German Chancellor Angela Merkel on Tuesday to discuss the Greece debt crisis before his talks with Greek Prime Minister Alexis Tsipras, the White House said.

Greece was teetering on the brink of a default that could see it crash out of the euro hours before a key debt deadline was due to expire today,as the country's prime minister warned Athens's coffers were empty.

US President Barack Obama weighed in Monday on the Greece crisis, telling Greeks they need to make tough choices to save their country from a default and possible messy euro exit.

Markets were also eyeing developments in Ukraine. US President Barack Obama signalled on Monday he will wait for the results of high-stakes talks on Ukraine before deciding whether to arm the Kiev government.

Greece's new left-wing government can boast some high-profile allies, from Nobel economics laureates to US President Barack Obama, in its controversial drive against austerity in Europe.

Italy on Monday issued mixed signals over whether it would back Greece in its fight for a renegotiation of its huge debts to international lenders.

The eurozone is grappling with sky-high debt levels and record unemployment of 11.2 per cent. Compared with the year before, the eurozone's economy is 0.4 per cent smaller. The region's economy would have slipped into recession had it not been for better-than-expected GDP figures from its two leading economies, Germany and France.

Rumours that the ECB would cut rates and that EU leaders might emerge from this week's meetings with a plan helped recovery.

The G20 leaders are expected to adopt a Los Cabos Action Plan, pledging to promote economic growth and jobs, investing in infrastructure and promoting trade, while sticking to its pledges to bring down budget deficits.

Europe's debt crisis has frayed nerves around the world for months. Now signs of weakness in the US jobs market and in Chinese factory output give policymakers even more reason to be afraid. Markets across Asia fell sharply on Monday morning. A dark cloud will hang over US Federal Reserve Chairman Ben Bernanke when he testifies before lawmakers on ...

Persistent political divisions — neatly bridged by a Group of Eight summit statement that advocates a mix of austerity and growth promotion — and lack of money stand in the way of a comprehensive European growth strategy. Analysts said markets were likely to look past the verbal deal, with news about Greece's struggle to stay in the eurozone an...

President Barack Obama, wrapping up the G8 summit, welcomed Europe's focus on rekindling growth and warned the crisis in the euro zone was dangerous for the world.

World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil. A summit of the G8 leading industrialized nations came down solidly in favor of a push to balance European austerity - an approach long driven by German Chancellor Angela Merkel - with a new dose of U.S.-style stimulus...