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Greece Bailout

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  1. Bailout Bill
  2. Greek Devaluation
  3. National Bank Of Greece SA
  4. International Monetary Fund
  5. Crisis in Cyprus
  6. Bank Tax
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Risks for Cyprus are 'unusually high', adoption of austerity plan imperative: IMF

The IMF said on Friday that risks for Cyprus were "unusually high" given its weak banking sector and economy and the island's full adoption of an economic austerity plan was imperative.The island's 17.5 billion euro economy faced risks from the uncertain impact of the crisis in its banking sector and the possibility that its economic contraction could be deeper than projected, the IMF said in a staff report."Given substantial risks to the outlook and debt sustainability, there is no room for implementation slippages," it said.The Fund said the impact of Cyprus's debt crisis on its economy will last longer than for other euro zone members that have had debt problems, with the exception of Greece.The International Monetary Fund is lending Cyprus $1.3 billion for three years as part of a 10 billion euro bailout the island secured from the European Union and the IMF in March.The Fund, in the report, said financial sector risks in Cyprus were particularly acute due to the banking sector out...

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  1. EU Suggests More Time for Deficit Reduction

    European Union authorities Friday suggested government austerity policies should be relaxed in a number of countries because of grim economic conditions.The move is ...

  2. Greece Sells Gambling Company

    Greece's government Wednesday accepted a 652 million euro ($860.3 million) bid for the state gambling company OPAP SA (GRKZF, OPAP.AT), marking the first significant...

  3. Cyprus bailout scrapes through island's parliament

    Cyprus's parliament approved an EU bailout on Tuesday which will force it to wind down its second-largest bank and impose heavy losses on uninsured depositors at ano...

  4. Insight: Why did Cypriot banks keep buying Greek bonds?

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  5. Greece passes reform law to unlock more EU/IMF rescue loans

    Greek lawmakers on Sunday approved a reform law to unlock about 8.8 billion euros ($8.9 billion) of rescue loans from the European Union and the International Moneta...

  6. Bank of Cyprus converts portion of uninsured savings to equity

    Cypriot lender Bank of Cyprus said on Sunday it had carried out a conversion of uninsured cash deposits in the bank into equity, one of the conditions of internation...

  7. Euro zone sees light at end of tunnel, pitfalls remain

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  8. Gold sale not a priority: Cyprus finance minister

    Cyprus is not giving priority to a sale of gold reserves under the international bailout agreed this month and is still exploring all options to meet its side of the...

  9. Era of austerity has run its course, EU says

    France and Spain fell short of their budget deficit goals last year and debt levels swelled across the euro zone but the pressure may be easing on Paris and Madrid a...

  10. Greek Lenders Work to Fill Gaps from Debt Restructure

    Greece's largest lenders are working to raise money to cover massive holes left behind by the country's debt restructuring, with one bank admitting Monday it has giv...

  11. Portugal's BCP Bank Sells Greek Unit to Piraeus

    Greece's Piraeus Bank SA (TPEIR.AT) has agreed to purchase the Greek unit of Portuguese lender Banco Comercial Portugues SA (BCP.LB, BPCGY) in a deal that will provi...

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  1. Greek Program Back on Track, But More Austerity Seen

    Greece is on track to meet its budget targets this year and next but may have to make further cuts in 2015 and 2016, the European Commission said in a report that wi...

  2. Analysis: Malta unlikely to follow Cyprus into crisis

    Cyprus and Malta have a lot in common: Mediterranean islands enjoying 10 months of sunshine a year, they joined the European Union in 2004, use the euro and have ban...

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  4. Greek Youth Unemployment Soars 60% in February

    Greek youth unemployment rose above 60 percent for the first time in February, reflecting the pain caused by the country's crippling recession after years of austeri...

  5. Cyprus bailout highlights need for banking union: Asmussen

    The bailout of Cyprus shows how urgently the euro zone needs to establish a banking union to break the negative feedback loop between weak banks and governments, Eur...

  6. Portugal's BCP Bank Swings to €152 Million Loss

    Banco Comercial Portugues SA (BPCGY, BCP.LB) said Monday that it swung to a first-quarter net loss, hampered by higher provisions for past-due loans and a loss from ...

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