Deputy Foreign minister of Greece Euclid Tsakalotos has been drafted in to lead debt talks with creditors to replace hot-headed Finance Minister Yanis Varoufakis.» Read More
Stock index futures mostly held their ground and indicated a higher open, despite a report showing the economy grew at a much slower pace than thought in the third quarter.
Moody's smaller than expected downgrade of Greece's credit rating shows that markets are starting to believe the government's efforts to contain the budget deficit, Greek Finance Minister George Papaconstantinou told CNBC Tuesday.
With the news surrounding the troubled economies of Greece and Dubai, many have questioned the government debt issued by these countries. But whose debt is really in the worst shape?
The bond vigilantes are back. But this time they are roaming mostly through Europe rather than the United States — at least for now. Their mission: to force governments to cut budget deficits that have ballooned in the wake of the financial crisis, The New York Times reports.
The European Summit kicked off Friday with Greece's mounting debt and deficit problems at the head of the conference agenda.
The world may be focused on the debt crisis that has submerged the emirate of Dubai, but in Europe investors are also watching the situation unfolding in Greece and whether it could be the next shoe to drop.
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Bonds look more attractive than stocks in the current climate, as share prices may take another dive, and investors should worry about preserving the money they have rather than making any more, Hugh Hendry, chief investment officer and partner at Eclectica told CNBC.
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.