Greece offered new measures including a tax hike on shipping companies and scrapping tax breaks for its islands in the latest proposal sent to creditors on Thursday for a cash-for-reforms deal.
Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped.
The European Central Bank raised the amount of emergency funding for Greece's troubled banks by 2.3 billion euros on Wednesday, banking sources said, as negotiations between Athens and its creditors reached a critical stage.
European leaders told Greece on Friday to return to the negotiating table for "intensive work" to wrap up a reform agreement before cash runs out, sidestepping Athens' demand for a comprehensive, long-term solution to its troubles.
European lenders on Tuesday played down Greek hopes of a swift end to negotiations on an aid agreement and warned talks must speed up before the country runs out of cash.
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Germany, long a bright spot in Europe’s troubled economy, is sustaining what appears to be a significant blow from turbulence in Russia and Ukraine.
How does the U.S. economy do it? Europe is floundering.
The European Central Bank is expected to keep interest rates unchanged when it concludes its monthly policy meeting Thursday despite further signs that the 18-country eurozone economy is losing momentum.
Asian stock markets were lackluster Thursday as traders turned cautious ahead of a U.S. jobs report and the monthly policy meeting of the European Central Bank.
A crackdown by U.S. regulators on European banks has European Central Bank officials concerned that the stiff penalties could further destabilize Europe’s already fragile banking system.
The European Central Bank’s long-time spokesperson will leave to head up the communications division of Germany’s largest lender.
The European Central Bank held its main refinancing rate at 0.5%, matching Wall Street’s expectations.
European Union regulators published guidelines to stop the rigging of Libor in an interim measure before a more far-reaching EU law comes in.
The bank's chairman said the pace of reform in the banking industry must be accelerated to avoid investor confidence in the sector being undermined.
Central bankers around the world continue to have unprecedented influence over global financial markets.
Japan's central bank unleashed a $1.4 trillion, open-ended asset program Thursday as Tokyo looks to jumpstart the economy after decades of stagnation.