The downgrade from Fitch came out earlier than the next scheduled review.» Read More
European finance ministers moved to reassure banking customers by agreeing to raise bank-deposit guarantees to 50,000 euros ($67,930), from the current level of 20,000 euros.
Greece's banking system "is totally safe and reliable" despite the world financial turmoil and all bank deposits in the country are guaranteed, Finance Minister George Alogoskoufis said on Friday, according to the Associated Press.
- Notes from an ECB groupie's travelog -
Deutsche Telekom will buy a 20 percent stake in Greece's largest phone company, OTE, for 2.5 billion euros ($3.33 billion) and aims to take full control of the company as it fuels growth via acquisitions.
Greece's Public Power Corp. SA has been given general approval to replace its stock of aging power generation facilities, the government said Saturday.
Here some of Wednesday's big movers on European stock markets: Michaniki, Hammerson, Iberia, Technical Olympic, Intercell and Carrefour.
Tsakos Energy Navigation, a Greek shipper of crude oil and petroleum products, said Monday its fourth-quarter profit rose 27%, as a larger fleet offset a softer market and higher operating costs.