Greece News

Indications Europe is making progress in dealing with its debt crisis has given a boost to market sentiment and saw the pound rise to its highest level against the US dollar in nearly a month. However, there are signs that the UK economy continues to struggle after construction data released for November indicated the sector remains weak....

Weak business confidence data coming out of Germany and uncertainty over the economic situation in Greece saw the euro drop to its lowest level in two months. The euro is currently trading at $1.2702 after a fall to $1.2661. The euro was prevented from dropping further by hints that international lenders may be about to send further aid to...

Before talks of its bailout, Prime Minister Antonis Samaras has asked for more time to execute harsh spending cuts. The issue is whether or not Greece has done enough to warrant getting its next €31.5 billion payment. If funds are not unlocked Greece will default on its public debt and may have to leave the euro. There is much pressure...

More lenders in the private sector have agreed to a Greek debt swap deal which could determine if the Mediterranean nation can stay in the euro, reports the BBC. The banking group heading the negotiations said 39.3 per cent of bondholders have signed up to exchange their Greek government bonds for new debt. However, 75 per cent is the...

The euro rose yesterday on expectations that the policymakers within the eurozone would approve a second bailout to Greece, although risks over implementing the agreement and a loose monetary policy outlook in the eurozone were predicted to cap the gains of the common currency, reports Reuters. Analysts expected that the bailout deal,...

Foreign Secretary William Hague has spoken about the problems which Greece will face if it opts to abandon the euro, reports the BBC. Hague said that they must be prepared to act to prevent euros leaving the country, perhaps by introducing border controls. Eurozone finance ministers are set to discuss a bailout package of 130bn euros...

The US dollar lost ground on the majority of its major counterparts on Tuesday as investors acted on reports of a possible second bailout package for Greece, reports Forex. During the late US trade session, the dollar lost ground on the euro, with the euro gaining 0.87 on the dollar to hit 1.3244. The rally in the single currency was...

The Euro has taken a hit today as a meeting between members of Greece’s coalition government failed to result in an agreement over tight austerity measures which would allow the EU and International Monetary Fund to hand over cash which the country could use to pay off its debtors. An agreement has to be made today of Greece wants 130...

The euro rose today and was supported by increasing hopes for the Greeks to agree a debt restructuring deal capable of helping the country steer clear of a disorderly default. As reported by Reuters, the dollar extended recent losses versus the Japanese yen and hit its lowest rate in three months after the US Federal Reserve stated last...