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  • ATHENS, March 27- Greece is submitting a long-awaited list of reforms to euro zone and International Monetary Fund lenders on Friday in the hope it will unlock badly needed cash, a Greek government official said. The European Union and IMF lenders, informally called the Brussels Group, will meet in Brussels later on Friday to start discussing it, the official said.

  • Fitch downgrades Greece amid bailout uncertainty Friday, 27 Mar 2015 | 9:29 AM ET

    ATHENS, Greece— The ratings agency Fitch has downgraded Greece's sovereign rating amid growing uncertainty over the new government's pledge to overhaul reforms needed to restart bailout loan payments and avoid default. The government has promised to ax austerity measures that cut chronic deficits but kept Greece in a punishing recession for six years.

  • Italy uncovers European tax-avoiding fuel scam Thursday, 26 Mar 2015 | 11:51 AM ET

    ROME— Italian police and Europol say eight people have been arrested in a half-dozen European countries for allegedly operating a diesel import scam that avoided taxes by disguising the fuel as it transited across the continent. Italy's financial police said Thursday that the scam netted 5.7 million euros as some 4,000 tons of fuel entered the country to be...

  • ROME, March 26- Bond-buying by the European Central Bank will reinforce the euro zone's economic recovery, its president, Mario Draghi, said on Thursday, adding that there was already evidence that the scheme was taking effect. Draghi told lawmakers in Italy's parliament that recent data releases "are comforting about the contribution that monetary policy is...

  • Pressure rises on Greece as savers drain bank deposits Thursday, 26 Mar 2015 | 11:25 AM ET

    The central bank of Greece said Thursday that private and business deposits dropped to 140.5 billion euros by the end of February. Some feared the clash could push Greece to bankruptcy and even cause it to fall out of the euro, a move that would devastate the country's financial system in the short term. Greece has its back against a wall as it badly needs money— it...

  • DIARY- Top Economic Events to April 8 Wednesday, 25 Mar 2015 | 8:01 PM ET

    ROME- European Central Bank president Mario Draghi addresses the Italian parliament's finance and EU policy committees- 1200 GMT. LONDON- Bank of England to publish Financial Policy Committee statement- 0930 GMT. FRANKFURT- Federal Reserve Bank of St. Louis President James Bullard gives OMFIF Public Lecture on the economy and monetary policy- 0835 GMT.

  • Ukraine bondholders face haircuts and extensions Wednesday, 25 Mar 2015 | 9:50 AM ET

    But Ukraine, as the country's finance minister points out, lacks the wealthy, albeit grudging euro zone backers that Athens has, and its $40 billion bailout is modest compared with the 240 billion euro Greek rescue. Creditors are preparing for battle, not least Russia, which is locked in conflict with Ukraine and holds $3 billion worth of the bonds.

  • DIARY- Top Economic Events to April 7 Tuesday, 24 Mar 2015 | 8:01 PM ET

    HELSINKI- European Central Bank policy board member and Bank of Finland Governor Erkki Liikanen will brief the press on monetary policy and global economy- 0900 GMT. LONDON- European Central Bank policymaker Peter Praet takes part in panel discussion on "Global Economic Recovery- a Tale of Many Parts" at the International Financial Services Forum- 1025 GMT.

  • *Bailout fund to consider returning 1.2 bln euros to Greece. ATHENS/ BERLIN, March 24- Greece risks running out of cash by April 20 unless it secures fresh aid, a source familiar with the matter told Reuters on Tuesday, leaving little time to convince sceptical creditors it is committed to economic reform. After talks with EU leaders including German Chancellor...

  • *Lufthansa, Airbus down after plane crash. LONDON, March 24- European shares edged up on Tuesday to hover just below a recent 7-1/ 2- year high, with forecast-beating business surveys from Germany and France offsetting disappointing Chinese factory data. However, Lufthansa and Airbus were down 1.9 percent and 0.9 percent respectively after an Airbus operated by...

  • BERLIN/ ATHENS, March 23- Greek Prime Minister Alexis Tsipras, pressing for cash to keep his country afloat, began talks with Germany's Angela Merkel on Monday after Berlin ruled out any breakthrough in differences with the euro zone over Athens's international bailout. Tsipras' pledge to submit a full reform package within days to unlock money that Greece...

  • BERLIN/ ATHENS, March 23- Germany's Angela Merkel does not expect talks on Monday with Greek Prime Minister Alexis Tsipras to resolve his differences with the euro zone over Greece's bailout but she does want to hear from him in person about his reform plans, an aide said. Tsipras' talk of coming up with a new reform package within days to unlock the cash that Greece...

  • *Greek PM Tsipras to meet Merkel in Berlin. ROME, March 22- Markets still digesting an unexpectedly cautious message from the Federal Reserve will get more food for thought this week with U.S. inflation data and potentially rising risks of a Greek exit from the euro zone. Bank of Japan Governor Haruhiko Kuroda dismissed talk of competitive devaluations to spur...

  • ATHENS, March 19- Greek banks saw deposit outflows of about 300 million euros on Wednesday, the highest in a single day since a February deal with the euro zone that staved off a banking collapse, two senior Greek bankers familiar with the matter said on Thursday. The fears receded after a Feb. 20 deal extending Greece's bailout but have risen again in recent days as...

  • Greek leader defiant ahead of bailout meeting Wednesday, 18 Mar 2015 | 8:17 AM ET

    ATHENS, Greece— Greek Prime Minister Alexis Tsipras insisted Wednesday his government will honor an election promise to end budget austerity— a note of defiance ahead of an expected meeting with the leaders of Germany and France on the country's troubled bailout. Tsipras is expected to meet German Chancellor Angela Merkel, French President Francois...

  • Greece seeking joint Merkel-Hollande talks on bailout Tuesday, 17 Mar 2015 | 7:49 AM ET

    ATHENS, Greece— Greece has called for joint talks with leaders of Germany, France and the European Union executive to try and resolve the crisis surrounding the country's bailout negotiations. Prime Minister Alexis Tsipras proposed meeting German Chancellor Angela Merkel, French President Francois Hollande, European Central Bank President Mario Draghi...

  • ATHENS, Greece— After a souring in relations between Germany and Greece over what Athens should do in exchange for rescue loans, Prime Minister Alexis Tsipras has accepted an invitation to meet German Chancellor Angela Merkel in Berlin next week, his office said Monday. It will be his first visit since his Jan. 25 election to Germany— a major contributor to...

  • Helped in many cases by European Union rescue funds, Spain's banks have reduced huge debts brought on by a property market crash and prolonged recession, and are now looking to grow. With euro zone interest rates set to remain at record lows for the foreseeable future, some mid-sized Spanish banks are starting to copy the expansion strategy of bigger rivals...

  • "If Greece explodes, Spain and Italy will be next and then at some point, Germany. He also said Greece did not need a third bailout but rather "a haircut like the one Germany also got in 1953 at the London debt conference." Athens and Berlin have become engaged in a war of words and Greece has submitted a formal protest to the German Foreign Ministry, accusing Finance...

  • DIARY-Top Economic Events to March 27 Friday, 13 Mar 2015 | 8:01 PM ET

    CERNOBBIO, Italy- European Central Bank board member Sabine Lautenschlaeger takes part in event on "The Outlook for Economy and Finance"- 0745 GMT. Speakers:- European Central Bank board members Sabine Lautenschlager and Peter Praet, Germany's Bundesbank board member Andreas Dombret and Germany's Bundesbank Deputy President Claudia Buch.