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Greece agrees on unity government; Prime Minister Papandreou will resign

Greece’s two main political parties reached an agreement Sunday to form a unity government, giving Europe a steadier partner as it works to avert a larger financial crisis on the continent. Prime Minister George Papandreou will resign after the new government is formed, officials said, although the timing, and his successor, remained unclear.

 

Initial agreement reached in Greece power-sharing

Initial agreement reached in Greece power-sharing

Greece's embattled prime minister and main opposition leader agreed Sunday to form an interim government to ensure the country's new European debt deal and oversee early elections, capping a week of political turmoil that saw Greece facing a catastrophic default and threatening its euro membership.

 

Bailout loan withheld from Greece

The next tranche of rescue loans for Greece will be withheld until after a bailout referendum, expected in early December, European leaders warn.

 

Greek vote brings uncertainty back to Wall Street

Greek vote brings uncertainty back to Wall Street

NEW YORK (Reuters) - Stocks tumbled on Tuesday after investors were blindsided by a surprise call for a Greek referendum on an EU bailout plan, casting doubt on the sustainability of the recent market rally.

 

MF Global goes bankrupt, is 1st U.S. casualty of European crisis

MF Global goes bankrupt, is 1st U.S. casualty of European crisis

The Wall Street firm run by former Goldman Sachs Chairman and New Jersey Gov. Jon Corzine filed for bankruptcy Monday morning, making it the first big American casualty of the European debt crisis.

 

Common Sense: The Spotlight Now Shines on Italy

Common Sense: The Spotlight Now Shines on Italy

It is up to Silvio Berlusconi to keep Italy from becoming another Greece and plunging the world into an even more devastating financial crisis.

Senh: Yes, Italy, please don't take down the world economy with you.

 

Dow up 339 points at close as European plan boosts optimism

The Dow Jones industrial average closed up 339 points Thursday after European leaders unveiled a financial rescue plan and the data showed the U.S. economy growing at a faster clip in the third quarter than earlier in the year.

 

Wall Street jumps at open on Europe deal

Stocks jumped more than 2 percent at the open on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.

Senh: Good to hear that European leaders finally came together and signed off on a plan to rescue troubled nations in the eurozone.

 

Europe Struggles for Remedy to Euro-Zone Crisis as 'Final Package' Fizzles

Europe Struggles for Remedy to Euro-Zone Crisis as 'Final Package' Fizzles

European leaders “have risen to the challenge,” German Chancellor Angela Merkel said. French President Nicolas Sarkozy proclaimed their July 21 summit a “historic turning point” and Luxembourg Prime Minister Jean- Claude Juncker called it the “final package, of course,” to extinguish the debt inferno. Then they went on vacation. Before they returned to work, the deal fizzled.

 

What's the matter with Italy?

The country that seems to crop up more and more in the current eurozone discussions is Italy, but why should it be affected by the Greek crisis?

 

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