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Economic Regions PIIGS

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  • ATHENS, Greece— Greece's first female prime minister, a top judge, was sworn in Thursday to head a caretaker government ahead of early elections next month in the bailout-dependent country. Supreme Court head Vassiliki Thanou, 65, was appointed after radical left Prime Minister Alexis Tsipras resigned, seeking a stronger mandate to implement tough austerity...

  • LISBON, Portugal— Portugal's center-right government is citing a jump in tax revenue as evidence the economy is growing and proof that its crackdown on tax evasion is working. In July alone, tax revenue of just over 3 billion euros was the highest for that month since 2007 and was 11.7 percent up on July last year. After three years of recession that followed a 78...

  • ATHENS, Greece— The Greek government says it's still aiming for a Sept. 20 election date after the prime minister resigned because of a rebellion in his party over the terms of the country's new bailout deal. Government spokeswoman Olga Gerovassili told Greek state TV ERT on Sunday that "as things stand now, Sept. 20 is a feasible election date."

  • What Greece's new elections mean for the bailout Friday, 21 Aug 2015 | 11:56 AM ET

    ATHENS, Greece— Greece's prime minister, Alexis Tsipras, has resigned and called new elections— just as the country was starting to tap its new bailout package. While the move creates some uncertainties for the country's fragile economy, it is unlikely to derail its new bailout program, the only thing keeping Greece solvent and within the euro.

  • *China factory activity sinks to 6-1/ 2- year low. China's factory sector shrank at its fastest rate in almost 6-1/ 2- years in August, a private survey showed, pushing investors who fear China's sagging economy will translate into slower global economic growth to take refuge in gold and bonds. "Uncertainty about China growth is now the main swing factor in markets,"...

  • ATHENS, Aug 21- Rebels angered by Greece's international bailout walked out of the leftist Syriza party on Friday, formalising a widely-expected split after leader Alexis Tsipras resigned as prime minister to pave the way for early elections. Greece's president gave the conservative opposition a chance to form a new government, but the effort is almost...

  • *China factory activity sinks to 6-1/ 2- year low. China's vast factory sector shrank at its fastest rate in almost 6-1/ 2- years in August, a private survey showed, pushing investors who fear China's sagging economy will translate into slower global growth to take refuge in gold and bonds. "Uncertainty about China growth is now the main swing factor in markets," said...

  • Financial information company Markit said its purchasing managers' index for the eurozone— a broad index of business activity— rose to 54.1 points in August from 53.9 the previous month. Markit estimates the economy to be growing at a quarterly rate of 0.4 percent, slightly ahead of the 0.3 percent recorded in the second quarter. Rob Dobson, senior economist at...

  • HELSINKI/ VIENNA, Aug 21- European policymakers saw Greek Prime Minister Alexis Tsipras' resignation and election call as a gambit to consolidate support for Athens' new bailout, but the move unnerved some investors who worried on Friday that reforms could be delayed. Thomas Wieser, the head of the Euro Working Group which prepares decisions for meetings of euro...

  • VIENNA, Aug 21- A senior European Union official said on Friday that a snap election called by Greek Prime Minister Alexis Tsipras within hours of new EU bailout cash arriving in Athens would have no effect on the financial aid package. When asked whether the election would change the numbers of the bailout deal, Thomas Wieser, the head of the Euro Working Group...

  • ATHENS, Greece— Greece's president asked the main opposition party Friday to try to form a new government, a day after Prime Minister Alexis Tsipras resigned and called an early election next month to deal with a governing party rebellion over Greece's third bailout deal. The opposition has few chances of uniting and forming a government, meaning that after...

  • *Greece repays ECB debt with new bailout money. ATHENS, Aug 20- Greek Prime Minister Alexis Tsipras will resign on Thursday to pave the way for early elections on Sept. 20, government officials said, hoping to quell a rebellion in his leftist Syriza party and seal support for a bailout programme. Tsipras's decision to return to the ballot box after seven bruising...

  • BERLIN/ ATHENS, Aug 19- Germany's parliament approved a third bailout for Greece on Wednesday after Finance Minister Wolfgang Schaeuble argued the country should get "a new start", while in Athens the government agonised over whether to call a snap election. The Bundestag's vote cleared one of the final obstacles to Greece getting funding so that it can make a 3.2...

  • The European Stability Mechanism board said it "will provide up to 86 billion euros in financial assistance to Greece over three years." Greece is due to make a new debt payment to the European Central Bank on Thursday. Despite International Monetary Fund calls for debt relief for Greece, many nations remain opposed and no such move will be examined by those...

  • ATHENS, Aug 18- Ratings agency Fitch upgraded its credit rating for Greece by one notch on Tuesday, saying the latest bailout deal the country struck with its foreign lenders reduced the chance of default. Greece and its European and IMF lenders reached an 85 billion euro bailout agreement last week after nailing down the terms of new loans needed to save the...

  • But bond investors were relieved that consumer prices in Britain ticked up 0.1 percent in July year-on-year after slipping back to zero in June. The concerns over the weakening inflation outlook have ratcheted up expectations of further central bank stimulus in the euro zone, while they could also scupper plans for Britain and the United States to raise...

  • BERLIN, Aug 18- German lawmakers broke off their holidays on Tuesday to debate Greece's third bailout plan before approving it, though Chancellor Angela Merkel faces a rebellion in a vote shaping up as her last chance to keep Athens in the euro zone. Merkel and Finance Minister Wolfgang Schaeuble will make the case for backing the bailout plan in party meetings...

  • Greece gives German firm rights to run 14 airports Tuesday, 18 Aug 2015 | 5:36 AM ET

    ATHENS, Greece— Greece has agreed to sell to a German company the rights to operate 14 regional airports. The government had initially vowed to cancel the country's privatization program, but Tsipras has been forced to renege on his pre-election promises in order to win a deal on a third international bailout for Greece, worth 86 billion euros.

  • LONDON, Aug 17- Spanish, Italian and Portuguese bond yields fell on Monday, with lower-rated euro zone assets buoyed by a third bailout deal for Greece and a relatively stable Chinese yuan. Euro zone finance ministers agreed to lend Greece up to 86 billion euros after Greek lawmakers accepted their tough conditions despite a revolt by some members of the party of...

  • Greek government seen calling confidence vote Monday, 17 Aug 2015 | 6:20 AM ET

    ATHENS, Greece— Greek Prime Minister Alexis Tsipras is likely to call a confidence vote in his government after the country's third bailout deal with international creditors sparked a rebellion within his party, one of his ministers indicated Monday. Without the bailout, Greece faces defaulting on its debts and eventually being forced out of Europe's joint...