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  • BRUSSELS, June 27- A Greek prime minister torn between accepting harsh bailout terms and a rebellion by the left wing of his party decides to call a referendum to break the political deadlock. Ireland and Portugal had joined Greece in seeking financial rescue, and bond markets were driving up the cost of borrowing for Italy and Spain. Amid fears for the stability...

  • Greece's creditors step up push for energy reforms Friday, 26 Jun 2015 | 1:07 PM ET

    BRUSSELS, June 26- The price of a deal to unlock funds for Greece includes "irreversible steps" to privatise its power network and making energy reforms that EU regulators have been demanding for years, its creditors say. A document drawn up by Greece's creditors-- the European Commission, the European Central Bank and the International Monetary Fund-- demands "...

  • LONDON, June 26- European Union plans to stimulate economic growth by tapping markets kicked off on Friday with banking regulators proposing to cut the cost of raising funds from bundled debt. Asset-backed securities, which reparcel debt based on loans such as mortgages, have struggled to regain favor in Europe after the sector unraveled in the United States...

  • GENEVA, June 26- The World Trade Organization on Friday backed a Japanese complaint against Ukraine's emergency tariffs on car imports and recommended that Kiev revoke the measures imposed two years ago. A WTO dispute panel, set up in March 2014, ruled on Friday that Ukraine violated the so-called Safeguards Agreement in the dispute brought by Japan which...

  • ATHENS, June 26- Disbelief gave way to anger and resignation in Greece on Friday as the prospect of a new round of austerity cuts sank in and any long-term deal to end uncertainty over the country's debts remained elusive. With the clock ticking to a deadline of June 30 when Greece must repay a 1.6 billion euro loan to the International Monetary Fund, Athens was...

  • LONDON, June 26- Zero hour comes for Greece on Tuesday, when Athens will either repay 1.6 billion euros to the International Monetary Fund after securing a last-ditch deal with its creditors or plunge into default. Non-payment after months of failed talks on unlocking frozen aid could trigger a bank run and capital controls and set twice-bailed-out Greece on a...

  • *EU's Tusk says "game nearly over" with Greece. *Greece faces default on Tuesday if no weekend deal. If Greece does not clinch an agreement at the weekend to unlock funds, it is set to default on an International Monetary Fund loan on Tuesday, possibly sparking a bank run, capital controls and raising doubts about its future in the euro zone.

  • Chancellor Angela Merkel and President Francois Hollande, whose countries are Athens' two biggest lenders, held a 45- minute private meeting with Tsipras before the final session of a European Union summit at which they went through details of immediate funding for Greece if it would sign the deal. It said Greece could have 15.5 billion euros in EU and IMF...

  • LONDON, June 26- European Union banking regulators have proposed cutting capital charges for high quallity securitised debt by a quarter in a bid to kick-start the market and help fund economic growth. Reviving the pooled-debt or asset-backed securities markets is a core aim of the European Union's plan for a Capital Markets Union to boost the amount of funds...

  • BRUSSELS, June 26- European Union leaders meeting in Brussels have a daunting list of long-running crises on their plates-- notably migrants crowding in at their southern borders, Russia growling in the east, Britain's threat to quit and a desperate need to create jobs. One quipped it was no longer Britain for dinner but " Greece for dinner." Plunged into crisis by the...

  • IMF to Fed: Drop the dots Thursday, 25 Jun 2015 | 5:19 PM ET

    WASHINGTON, June 25- Now that International Monetary Fund head Christine Lagarde has told the Fed to wait to raise interest rates, the IMF staff has followed up with suggestions that the U.S. central bank remake its communications policy and, in a phrase, ditch the dots. The dot plot of interest rate projections issued by Fed officials every three months is...

  • NEW YORK, June 25- Global stock markets and oil prices edged lower on Thursday on lingering worries over Greece, though a Supreme Court ruling upholding tax subsidies drove U.S. hospital stocks to record highs. A failure on Thursday to clinch a deal between Athens and its three creditor institutions- the International Monetary Fund, European Central Bank and...

  • *Euro zone finmins end 3rd meeting without agreement on Greece. A failure on Thursday to clinch a deal between Athens and its three creditor institutions- International Monetary fund, European Central Bank and European Union- set up a last-ditch effort to reach agreement on Saturday in order to avoid a default next week. That's kind of holding markets back, "said...

  • *Greece for dinner, Britain for dessert- one official. BRUSSELS, June 25- Prime Minister David Cameron will tell European Union leaders on Thursday he needs a new deal to keep Britain inside the bloc, opening an argument over its future at a summit preoccupied with keeping Greece from crashing out. Freshly re-elected last month, Cameron faces difficult...

  • From menu of crises, Greece risks eating Europe's dinner Thursday, 25 Jun 2015 | 12:15 PM ET

    *Euro zone showdown with Greece could eat up time at summit. BRUSSELS, June 25- European Union leaders faced a daunting list of crises as they began their summit on Thursday, notably migrants crowding in at their southern borders, Russia growling in the east, Britain's threat to quit and a desperate need to create jobs. But a battle of wills between Greece and its...

  • UPDATE 1-IMF says 'on same page' with Europeans on Greece Thursday, 25 Jun 2015 | 11:07 AM ET

    WASHINGTON, June 25- The International Monetary Fund is "on the same page" with the Europeans on negotiations with Greece over a cash-for-reforms deal, a Fund spokesman said on Thursday. IMF spokesman Gerry Rice also said discussions on debt sustainability and financing for Greece will have to wait until Athens agrees and implements key reforms.

  • *Queen says EU needs Britain. BRUSSELS, June 25- Prime Minister David Cameron will pitch his renegotiation of Britain's relationship with the European Union at a summit on Thursday as leaders of the 28- member bloc grapple with an influx of migrants and the prospect of a Greek default. Just over 42 years since Britain joined the precursor to the EU, Cameron will...

  • BRUSSELS/ ATHENS, June 25- Greece's international creditors gave Athens an ultimatum to come up with a credible reform plan on Thursday warning they would otherwise put their own proposals to euro zone finance ministers for approval, a euro zone official said. The dramatic move came hours before European Union leaders meet in Brussels for a summit on migration,...

  • BRUSSELS, June 25- British Airways- owner IAG has offered concessions in an attempt to win European Union regulatory approval for its planned acquisition of a 25 percent stake in Ireland's Aer Lingus, the European Commission said on Thursday. IAG wants to expand lucrative transatlantic services from Dublin airport where there is spare capacity, unlike...

  • LONDON, June 25- Belgium has said EU-wide talks on Prime Minister David Cameron's plan to renegotiate Britain's relationship with the European Union are likely to be difficult and that his desire to exclude London from the bloc's aim of ever closer union is problematic. "Europe is something... you work on altogether and you try to achieve something altogether,"...