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Latest Yannis Stournaras Items
Greece has avoided imminent bankruptcy after its international creditors finally agreed to give it the money it urgently needs, but the cash-strapped country's economic distress is likely to drag on for years to come.
Chinese patrol boats confronted Japanese vessels near a disputed East China Sea archipelago early Tuesday, the latest in a series of such encounters after Tokyo's nationalization of the islands last month.
Greece may get more time to cut its budget, its creditors indicated Friday in another sign of increasing flexibility and optimism across the 17 countries that use the euro, while Spain appeared to be inching closer to making a formal request for financial assistance.
The three parties in Greece's young coalition government failed Monday to finalize a major new package of budget savings that rescue lenders are demanding as a condition for continued bailout funds the country needs to avoid getting forced out of the eurozone.
Greece is falling short of some commitments made in return for billions of euros of rescue money, the country's new finance minister admitted Thursday after meeting representatives of the country's financial rescuers for the first time.
A second Greek Cabinet member in two days has resigned, the latest casualty for the financially struggling country's new conservative-led government.