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Bailouts

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  • *China's stock markets keep tumbling. SINGAPORE, July 7- Crude oil prices steadied on Tuesday, after posting one of their biggest selloffs this year the previous session over Greece's rejection of debt bailout terms and China's stock market woes. Major global powers and Iran are negotiating a nuclear compromise that could end sanctions against Tehran and open...

  • NEW YORK/ LONDON, July 6- Commodities prices dropped to their lowest in nearly three months on Monday, dragged lower by a fresh rout in oil and copper as Greece's rejection of debt bailout terms and China's stock market woes unleashed a fresh round of selling. Greece's deepening economic crisis is unlikely to hurt global fuel demand on a major scale, but nervous oil...

  • *Platinum falls to lowest since 2009. NEW YORK/ LONDON, July 6- Gold eked out small gains on Monday in a rare spurt of safe-haven buying after Greek voters rejected terms of a bailout package, deepening the country's economic woes, and offsetting pressure from a rising U.S. dollar. "It seems likely there were some concerns that the rhetoric from that joint...

  • NEW YORK, July 6- Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece's rejection of debt bailout terms and China's stock market woes set off a deepening spiral of losses. Adding to the pressure on oil, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could bring more supply to the...

  • NEW YORK, July 6- U.S. stocks fell in a volatile session on Monday as Greeks resoundingly backed the government in rejecting the austerity terms of a bailout and as China implemented emergency measures to stop a selloff in Shanghai's market.

  • NEW YORK/ LONDON, July 6- Gold turned higher on Monday as France and Germany told Greece the door was open to negotiations after Greek voters had rejected the terms of a bailout package. Leaders of France and Germany told Greece's government the door for negotiations with creditors remained open but urged it to make credible proposals at a euro zone summit to...

  • ATHENS/ FRANKFURT- Greece's combative finance minister resigns, removing one major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. -EUROZONE- GREECE/ GERMANY, moved, by Paul Carrel, 640 words. -MARKETS- GREECE/ VOTE REACTION, moved, by Jamie McGeever, 800 words.

  • PARIS, July 6- Leaders of France and Germany told Greece's government on Monday the door for negotiations with creditors remained open but urged it to make quick proposals to reach a cash-for-reform deal. Merkel said the conditions for a discussion on a program involving the European Union's bailout fund were not present and urged Greece to put proposals on...

  • LONDON, July 6- Commodity prices tumbled on Monday after Greece voted against conditions for a bailout package and top consumer China unleashed emergency measures aimed at halting the sharp slide in its stock market. "Commodities are down on concerns about Greece and China, especially China where the slowdown appears to be more pronounced," said Norbert...

  • *German government says up to Greece to act to stay in euro. BERLIN, July 6- The German government signaled a tough line towards Greece on Monday, saying it saw no basis for new bailout negotiations and insisting it was up to Athens to move swiftly if it wanted to preserve its place in the euro zone. With opinion towards Greece hardening in Germany's ruling coalition...

  • *Greece owes $3.5 bln bond payment to ECB on July 20. July 6- U.S. stocks were set to open lower on Monday after Greece rejected debt bailout terms, throwing the future of the country's euro zone membership into further doubt. A new bailout deal is needed for Greece to meet a July 20 deadline to repay $3.9 billion of bonds to the ECB.

  • *German government says up to Greece to act to stay in euro. BERLIN, July 6- The German government signalled a tough line towards Greece on Monday, saying it saw no basis for new bailout negotiations and insisting it was up to Athens to move swiftly if it wanted to preserve its place in the euro zone. With opinion towards Greece hardening in Germany's ruling coalition...

  • *European partners say await new proposals from Greece. ATHENS/ FRANKFURT, July 6- Greece's outspoken finance minister resigned on Monday, removing a major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. Yanis Varoufakis, an avowed "erratic Marxist"...

  • *Silver, platinum, palladium all decline. LONDON, July 6- Gold fell on Monday as a robust dollar outweighed the impact of lower equity markets and some retail demand after a Greek vote rejected the terms of a bailout package that could set Athens on a path out of the euro zone. Spot gold was down 0.3 percent at $1,163.50 an ounce by 0956 GMT, while U.S. gold futures were...

  • Hope we get a deal fast: Panaritis Monday, 6 Jul 2015 | 4:30 AM ET
    Hope we get a deal fast: Panaritis

    Elena Panaritis, former World Bank economist, weighs in on what to expect next for Greece and why both the country and its creditors need to engage in talks.

  • Calculating a potential 'Grexit' Monday, 6 Jul 2015 | 4:30 AM ET
    Calculating a potential 'Grexit'

    Themis Themistocleous, CIO for EMEA at UBS, talks about the likelihood of a "Grexit" and what factors would induce this potential scenario.

  • ATHENS/ FRANKFURT, July 6- Greece's outspoken finance minister resigned on Monday, removing a major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. Yanis Varoufakis, a self-proclaimed "erratic Marxist" economist who infuriated euro zone partners with his...

  • Varoufakis resigns: Good news for Greece? Monday, 6 Jul 2015 | 4:00 AM ET
    Varoufakis resigns: Good news for Greece?

    Adonis Georgiadis, MP with the New Democracy party, says that although Yanis Varousfakis' departure is "good news," it won't be enough for Greece.

  • Greece's banks could run out of cash within days and the European Central Bank's decision about whether to extend emergency liquidity will be crucial. Banks across Europe were hit by the threat that Greece's problems could spill over to other countries and derail an economic recovery, especially in other peripheral euro zone countries.

  • LONDON, July 6- European shares were set for steep falls on Monday, the euro stumbled and yields on weaker euro zone economies' bonds rose after Greece's overwhelming vote against conditions of a rescue package endangered its future in the euro zone. In the wake of Sunday's' No' vote against the bailout conditions demanded by Greece's creditors, bankers said the...