Greek Debt Crisis | featured news

China offered on Saturday to buy Greek government bonds when Athens resumes issuing, in a show of support for the country whose debt burden pushed the euro zone into crisis and required an international bailout.

The state-owned railway loses about $3.8 million a day, prompting a search for solutions: maybe a foreign investor or a complete overhaul.

Road closures, strikes and blockades have horrified people in Greece's vital tourism industry as it struggles to emerge from a vicious debt crisis that brought it to the brink of bankruptcy.

Moody's Investors Service downgraded Greek debt by four notches to junk status. It follows Standard & Poor's, which put the debt-laden country in the speculative-grade camp almost seven weeks ago.

European leaders agree to a nearly $1 trillion rescue plan to avoid a major debt crisis; Federal Reserve says it will also provide loans overseas.

The European Union agreed on a 500 billion-euro ($670 billion) emergency fund in the early hours of Monday to protect highly indebted eurozone countries from the "wolfpack" of financial markets.

The International Monetary Fund on Sunday approved a 30 billion euro ($38.6 billion) loan for Greece as part of a larger European Union-led effort to help ease the country's economic crisis.

Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.

Both houses of Parliament approve unpopular financial plan to save Greece from bankruptcy.

Stocks are plunging as investors give in to fears that Greece's debt problems will spread and halt the global economic recovery.