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Europe: Economy

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  • *Publication highlighted dispute between Brussels and Washington. BRUSSELS, July 3- Euro zone countries tried in vain to stop the IMF publishing a gloomy analysis of Greece's debt burden which the leftist government says vindicates its call to voters to reject bailout terms, sources familiar with the situation said on Friday. The document released in...

  • *Euro STOXX 50 in biggest weekly drop since Dec. LONDON, July 3- A top euro zone share index ended Friday with its worst weekly fall this year, as the market was hit by uncertainty over Greece's referendum on its bailout terms, which could determine whether it stays in the single currency. European stock markets have lost ground due to concerns over Greece's debt...

  • PM Tsipras: 'No' vote to live in dignity in Europe Friday, 3 Jul 2015 | 12:29 PM ET
    A pedestrian walks between yes, left, and no posters ahead of Sunday's referendum in Athens, Greece, on Thursday, July 2, 2015.

    Our live blog will keep you up to date with all of the developments out of Greece.

  • The decision came two days before Greeks were set to vote in a referendum on whether to accept bailout terms rejected by their leftist government, with a' No' vote likely to put Greece on a path to leaving the euro zone. The European Financial Stability Facility said Tuesday's failure to pay the International Monetary Fund "results in an event of default by Greece,...

  • European shares close lower as Greek vote eyed Friday, 3 Jul 2015 | 11:30 AM ET
    European shares close lower as Greek vote eyed

    European equities closed lower on Friday as investors looked ahead to Sunday, when a referendum that could affect Greece's future in the euro zone will take place.

  • Limited contagion risk from Greece? Friday, 3 Jul 2015 | 11:30 AM ET
    Limited contagion risk from Greece?

    Stephen Macklow-Smith, European equities portfolio manager at J.P. Morgan Asset Management, discusses European stocks after the market's worst week this year.

  • Will Greece's banks run out of money? Friday, 3 Jul 2015 | 11:00 AM ET
    Will Greece's banks run out of money?

    Constantine Michalos, president of the Athens Chamber of Commerce and Industry, discusses the situation in Greece ahead of this weekend's bailout referendum.

  • What will happen in the Greek referendum? Friday, 3 Jul 2015 | 11:00 AM ET
    What will happen in the Greek referendum?

    Lothar Mentel, chief investment officer at Tatton Investment Management, discusses this weekend's bailout referendum in Greece.

  • *Euro STOXX 50 set for biggest weekly drop since Dec. The euro zone Euro STOXX 50 index was on track for its worst week since December. Peter Oppenheimer, chief global strategist at Goldman Sachs, said a worst-case scenario in case the Greeks voted "No" to the bailout programme could see the Euro STOXX fall to 3,150 points.

  • Correction: Greece-Bailout story Friday, 3 Jul 2015 | 9:00 AM ET

    ATHENS, Greece— In a story July 2 about the Greek referendum, The Associated Press reported erroneously that the International Monetary Fund had said Greece would need debt relief worth 50 billion euros. The IMF said Greece needs new financing worth 50 billion euros as well as debt relief. ATHENS, Greece— Costas Christoforidis hasn't decided how to vote in...

  • BRUSSELS, July 3- The euro zone's rescue fund, Greece's largest creditor, said on Friday it reserved the right to call in 130.9 billion euros in debt ahead of schedule after Athens defaulted this week on an International Monetary Fund loan. The board of the European Financial Stability Facility decided to reserve its rights to act at a later stage on the...

  • *Moves modest in dramatic week for Athens. LONDON, July 3- Euro zone yields edged lower on Friday in a cautious market as uncertainty surrounded the outcome and consequences of a referendum on Greece's bailout. It has been a tumultuous week for Athens which has closed its banks, introduced capital controls and became the first developed country to default on an...

  • LONDON, July 3- European bonds and stocks traded cautiously at Friday's market opening before a Greek referendum on EU-prescribed reforms that could determine the country's future in the euro zone and which polls suggest could go either way. Supporters of Greece's bailout terms have taken a wafer-thin lead over the "No" vote backed by the leftist government, 48...

  • China uses more than a billion tonnes of iron ore a year to make steel- 14 times the consumption of the United States- but Beijing's efforts to shift the economy to consumer-led growth means steel consumption is peaking faster than expected. "It's clear China can no longer consume all the iron ore that's out there, so something's got to give," said James Wilson, a...

  • LONDON, July 3- Euro zone business activity expanded at its fastest pace in four years last month as the European Central Bank's stimulus package more than offset fears Greece could crash out of the currency union, surveys showed. Speculation that Athens would miss a 1.6 billion-euro repayment to the International Monetary Fund on Tuesday heightened...

  • ATHENS, July 3- Supporters of Greece's bailout terms have taken a wafer-thin lead over the "No" vote backed by the leftist government, 48 hours before a referendum that may determine the country's future in the euro zone, a poll showed. With banks shuttered all week, cash withdrawals rationed and commerce seizing up, the vote could decide whether Greece gets another...

  • The euro is not in danger: OECD boss Friday, 3 Jul 2015 | 1:10 AM ET
    The euro is not in danger: OECD boss

    Angel Gurria, the head of the OECD, says the euro currency is not in danger from the Greek crisis.

  • What a 'Yes' vote means for Greece Friday, 3 Jul 2015 | 12:32 AM ET
    What a 'Yes' vote means for Greece

    Richard Champion, deputy CIO at Canaccord Genuity Wealth Management, says Greece will see further instability in the short to medium term if the "Yes" camp wins Sunday's referendum.

  • *Gold firms as dollar dips after U.S. nonfarm payrolls. SINGAPORE, July 3- Gold was steady above a 3-1/ 2 month low on Friday, as sluggish U.S. jobs data tempered expectations for a September rate hike by the Federal Reserve and hurt the dollar. Spot gold was steady at $1,166.60 an ounce by 0331 GMT.

  • SINGAPORE, July 3- Gold was steady above a 3-1/ 2 month low on Friday, as sluggish U.S. jobs data tempered expectations for a September rate hike by the Federal Reserve and hurt the dollar. *Spot gold was steady at $1,167 an ounce by 0053 GMT. The metal fell to $1,156.85 on Thursday, its lowest since mid-March, but pared some losses after U.S. economic data.

Contact Europe: Economy

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