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Economic Regions PIIGS

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  • AP PHOTOS: Greece's odyssey through its latest crisis Wednesday, 29 Jul 2015 | 7:48 AM ET

    Greece has endured financial and political chaos since its referendum on July 5 on a bailout proposal by the country's rescue creditors. They let Greece's existing bailout expire, forcing the country to take the drastic action of shutting its banks for three weeks and putting limits on money withdrawals and transfers. The photographs here chronicle...

  • ATHENS/ BRUSSELS, July 28- Conflicting statements and denials flew between Athens and Brussels on Tuesday in a war of nerves highlighting the depth of mutual mistrust over a new round of negotiations on an 86 billion euro bailout that started this week. Differences included the pace and conduct of bailout talks, whether or not Greece needs to enact further laws...

  • ATHENS, Greece— Greece pushed ahead with talks on a new rescue loan Tuesday, but its government came under increasing pressure over claims it had a top-secret plan to prepare for a euro exit that involved accessing citizens' personal tax data. The talks in Athens aim to thrash out the terms of the deal— worth about 85 billion euros over three years— before Aug. 20, when...

  • ATHENS, Greece— Cyprus' creditors say the bailed-out country is on the path to economic recovery after years of recession but that it needs to follow through on structural reforms to lock in progress made and keep growth on an upward trajectory. The European Union and the International Monetary Fund said Monday the fiscal targets for the first half of 2015 have...

  • BRUSSELS/ ATHENS, July 27- Talks between Greece and its international creditors on a third bailout began in Athens on Monday but the lenders want to see more reforms turned into law before they disburse the first loans to keep the near-bankrupt country afloat. The government of Prime Minister Alexis Tsipras has pushed two packages of measures through...

  • Finance Minister Euclid Tsakalotos said late Monday that meetings in Athens had begun between Greek officials and negotiating teams representing creditors, with talks to intensify Tuesday, paving the way for higher level discussions possibly by the end of the week. Before the talks started in Athens, a recording of Varoufakis discussing a parallel...

  • *Iran deal likely boosted industry expectations-economist. BERLIN, July 27- Business confidence in Germany unexpectedly improved in July after two monthly drops as an agreement between Greece and its creditors for talks on a third bailout lifted the mood at firms in Europe's largest economy. Ifo president Hans-Werner Sinn said the easing of the crisis had...

  • BERLIN, July 27- Business confidence in Germany improved in July after two monthly drops as an agreement between Greece and its creditors for talks on a third bailout lifted the mood at firms in Europe's largest economy. Hans-Werner Sinn, president of Ifo think tank, said the easing of that crisis had helped boost sentiment in Germany. Last week Germany and Iran...

  • ATHENS, Greece— Greece and rescue lenders are still working out the format of upcoming talks, the labor minister said Sunday, confirming a delay in the negotiations for a third international bailout. Bailout negotiators from the European Commission, European Central Bank, and International Monetary Fund had been due to start arriving in Athens last Friday to...

  • ATHENS, July 25- Talks between Greece and its international creditors over a new bailout package should go ahead on Monday after logistical issues that delayed meetings this week are resolved, a Greek official said on Saturday. The meetings with officials from the European Commission, European Central Bank and International Monetary Fund had been expected...

  • Greek bailout talks to start on Monday after delay Saturday, 25 Jul 2015 | 8:01 AM ET

    ATHENS, July 25- Talks between Greece and its international creditors over a new bailout package should go ahead on Monday after logistical issues that delayed meetings this week are resolved, a Greek official said on Saturday. The meetings with officials from the European Commission, European Central Bank and International Monetary Fund had been expected...

  • ROME— Italy's summer of woe got worse Friday with one strike at Pompeii that left lines of tourists baking in the sun outside the World Heritage archaeological site and another at Alitalia that left passengers scrambling to rebook cancelled flights. The slowdowns added to record-high temperatures and labor slowdowns that have made living in and visiting...

  • BRUSSELS/ ATHENS, July 24- Talks on tying up a new bailout deal for Greece failed to start on Friday as had been expected, with officials blaming security worries for delaying the negotiations with international creditors who are detested by many Greeks. But representatives of Greece's creditor institutions- the European Commission, the European Central Bank...

  • *PMI points to euro zone Q3 GDP growth of 0.4 pct- Markit. LONDON/ SYDNEY, July 24- The global economy started the second half of the year on shaky ground as business activity in the euro zone was weaker than expected and China's vast factory sector appeared to be contracting at the fastest pace in 15 months in July. Markit's purchasing managers' indexes are one of the...

  • ATHENS, July 23- Greece's most influential think tank warned on Thursday of a sharp drop back into recession in a report that came hours after parliament approved a second package of reform measures aimed at securing a new bailout from international lenders. The report underlined the headwinds facing leftwing Prime Minister Alexis Tsipras, who must...

  • Shop-owners in the central Athens neighborhood, one of the capital city's most financially diverse, are finding it a lot more difficult to get by. Empty storefronts are again a feature of Greece's towns and cities amid a crisis that put Greece's future in the euro in doubt. His wife and 11- year-old daughter have already moved to Germany— the country that's...

  • ATHENS, Greece— Discussions over Greece's third bailout in five years are set to begin in Athens imminently after Greece's parliament approved Thursday tough new conditions set by European creditors. Officials in Athens and at the European Union said negotiators are expected to start arriving on Friday, marking the first time high-level talks will be held...

  • MADRID, July 23- Spain's jobless rate dropped to its lowest level in over three years in the second quarter, offering a boost to Prime Minister Mariano Rajoy as he seeks to persuade voters that an economic recovery is taking root. At 22.4 percent, the unemployment rate is still higher than anywhere else in Europe bar crisis-hit Greece and it has not dipped below a...

  • Spain's jobless rate drops as government eyes elections Thursday, 23 Jul 2015 | 3:42 AM ET

    MADRID— Statistics released Thursday said Spain's unemployment rate dropped to 22.4 percent in the second quarter, welcome news for the governing Popular Party as it prepares for upcoming general elections. Spain's jobless rate is still the second highest in the EU after that of Greece. Prime Minister Mariano Rajoy said Thursday the figures were "excellent,"...

  • South Korea's economy recorded its weakest expansion in six years in the second quarter, battered by a deadly virus outbreak and poor exports, while Japan reported strengthening export growth in June but concern remained about how shipments to China might be affected by its slowing economy. The MSCI's broadest index of Asia-Pacific shares outside Japan...