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Economic Regions PIIGS

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  • SAN FRANCISCO, Aug 11- China's 2 percent devaluation of the yuan hit global equities and U.S. oil prices on Tuesday with investors fearing a new currency war as well as declining Chinese economic momentum. Wall Street ended lower as investors contemplated the implications of a move designed to support China's slowing economy and exports.

  • *Konecranes shares surge on Terex merger plan. LONDON, Aug 11- European shares retreated on Tuesday, with carmakers and luxury goods stocks among the worst performers, after China devalued its currency and a report showed economic sentiment weakening in Germany. "What is good for growth in China is unfortunately bad for everybody else," said Bill McQuaker, co-head...

  • ATHENS, Aug 11- Greece has secured funding from the EU and IMF worth about 85 billion euros over three years, a Greek finance ministry official said on Tuesday after Athens and its lenders clinched a bailout agreement after a marathon round of tlaks. The package had been expected to be worth up to 86 billion euros but there had been no confirmation of its size and...

  • LONDON, Aug 11- Greek financial markets surged on Tuesday after Athens agreed a multi-billion-euro bailout deal with international lenders. The deal, reached after marathon talks, is expected to be signed off by Greece's parliament and euro zone finance ministers this week to ensure Athens has enough cash to meet a chunky repayment to the European Central...

  • LONDON, Aug 11- Emerging market currencies tumbled on Tuesday in the wake of China's record 1.9 percent currency devaluation, which took offshore-traded yuan 2.5 percent lower and rekindled fears for growth in the world's No. 2 economy. China's central bank cut the yuan's daily fix, effectively devaluating it against the dollar after data released on the...

  • *Greece needs fresh aid to meet ECB payment Aug 20. ATHENS, Aug 11- Greece and its international lenders were locked in marathon talks overnight to seal a multi billion-euro bailout deal on Tuesday, racing against a countdown to European Central Bank debt repayments falling due in days. An agreement would mark the end of a painful chapter of aid talks for Greece,...

  • *China sharply devalues currency, yuan sinks to 3- year low. *Aussie hit by China move, U.S. dollar rebounds vs euro. With fears of an economic slowdown mounting, devaluating the yuan was the only thing China had not tried after implementing monetary, fiscal and equity-boosting policies, "said Masafumi Yamamoto, senior strategist at Monex in Tokyo.

  • ATHENS, Aug 11- Greece and its international lenders were locked in marathon overnight talks to seal a multibillion-euro bailout deal on Tuesday, racing against a countdown to European Central Bank debt repayments falling due in days. "We are going into the final round of talks, looking at the Memorandum of Understanding from beginning to end," a senior Greek...

  • BERLIN, Aug 10- Germany pressed on Monday for strict conditions to be attached to a new bailout accord for Greece, arguing for aid payments to be tied to Athens' reform progress and holding out the possibility of a delayed final deal. The hard line from Berlin reflected popular misgivings in Germany about funnelling yet more aid to Athens and policymakers' loss of...

  • Athens wants to ease capital controls, in place since June, which now limit withdrawals to 420 euros per customer per week. The EU has suggested Greek banks may need anything from 10 billion euros to 25 billion euros, but the final amount is dependent on stress tests and an asset quality review. Athens and international lenders are making unexpectedly quick...

  • Athens is racing to wrap up the bailout agreement of as much as 86 billion euros by as early as Tuesday in a bid to get the first disbursement of aid by Aug. 20, when it faces a debt payment to the European Central Bank. Officials from European Union and International Monetary Fund lenders met Greece's finance and economy ministers in Athens on Saturday, the day after...

  • Athens is racing to wrap up the bailout agreement of as much as 86 billion euros by as early as Tuesday in a bid to get the first disbursement of aid by Aug. 20, when it faces a debt payment to the European Central Bank. Officials from European Union and International Monetary Fund lenders met Greece's finance and economy ministers in Athens on Saturday after EU...

  • BRUSSELS, Aug 7- Greece is on track to complete a draft deal with international creditors on a third bailout by next Tuesday with a possible first disbursement by Aug. 20, a source familiar with a conference call of senior EU finance officials on Friday said. Greece would be expected to enact another package of reform legislation before Aug. 20, in parallel with...

  • *Greece, France seek quick deal, Germany warning against haste. BRUSSELS/ ATHENS, Aug 7- Senior EU officials will confer by telephone late on Friday on progress in negotiations between Greece and its international creditors on a third bailout for the near-bankrupt euro zone country with Germany reported to be warning against haste. Athens is negotiating with...

  • *Greece, France seek quick deal, Germany warning against haste. BRUSSELS, Aug 7- Senior EU officials will confer by telephone late on Friday on progress in negotiations between Greece and its international creditors on a third bailout for the near-bankrupt euro zone country with Germany reported to be warning against haste. Athens is negotiating with European...

  • ATHENS/ ISMAILIA, Egypt, Aug 6- A new bailout for Athens should be agreed by late August, Greek Prime Minister Alexis Tsipras and French President Francois Hollande said on Thursday. Greece is in negotiations with the European Union and International Monetary Fund for as much as 86 billion euros in fresh loans to stave off financial ruin and economic collapse.

  • BERLIN, Aug 6- The German government has growing doubts a deal on a multi-billion-euro bailout for Greece can be agreed in the next two weeks, meaning Athens would need to secure a bridge loan, Bild daily reported on Thursday. A 3.5- billion-euro debt payment to the European Central Bank falls due on Aug. 20 and without a bailout deal, Athens will need bridge...

  • LONDON, Aug 5- Growth among European service businesses, which dominate most economies across the continent, eased last month as firms worried about Greece's flirtation with bankruptcy, surveys showed on Wednesday. Still, euro zone firms did accelerate growth towards the end of the month after Athens agreed a framework bailout plan with its European Union...

  • With conditions and sentiment improving in the bloc after the deal, Markit's July final Composite Purchasing Managers' Index beat an earlier estimate of 53.7, settling at 53.9. The composite PMI pointed to third-quarter expansion of 0.4 percent, Markit said, in line with the expectations for the previous three months but less than the 0.5 percent median...

  • ATHENS, Aug 4- Both Greece and its lenders said on Tuesday they were optimistic they could broker a deal within days on a multi-billion euro bailout, striking a surprisingly upbeat tone on a process previously fraught with bitterness. A bailout worth up to 86 billion euros must be settled by Aug. 20-- or a second bridge loan agreed-- if Greece is to pay off debt of 3.5...