Eurozone crisis

Greek PM Alexis Tsipras resigns

August 21, 2015

Greek Prime Minister Alexis Tsipras has announced his resignation in a televised address to the debt ridden nation which is centre of Eurozone crisis. He has submitted his resignation to President Prokopis Pavlopoulos and called for snap elections as early ..

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Greece agrees bailout deal 'in principle' with its creditors

August 12, 2015

Greece has agreed a new in principle multi-billion euro bailout deal with its creditors. It was announced by the European Commission (EC) after series of marathon talks between Greece and its lenders in Athens. In this regard a technical agreement ..

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Greece becomes first developed nation to default IMF debt

July 2, 2015

Greece has become the first developed nation to default on International Monetary Fund (IMF) debt. It has defaulted on a 1.7 billion dollars payment to IMF. The deadline for debt payment was missed by Greece after Eurozone Finance Ministers refused ..

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EU offers Spain bank financial aid and more time to cut deficit

July 11, 2012

European Union has offered ailing Spain more time and 30 billion euro to save the country’s banks and protect Europe from more debt crises. EU ministers promised to provide the funds with 100 billion euro ($123 billion) potentially available in ..

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European Union to utilize Eurozone’s permanent bailout funds to help troubled banks

June 30, 2012

The EU leaders have decided to use the Eurozone’s permanent bailout funds to support struggling banks directly, without raising government debt. EU leaders also agreed that bailout funds could be utilized to stabilize financial markets, which implies buying government debts ..

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IMF: India’s growth Forecast: 7.8%

November 30, 2011

The International Monetary Fund (IMF) and trimmed its forecasts of economic growth for India, China and other Asian developing economies due partly to slower growth in the rest of the world. The IMF forecast India’s economy to grow 7.8% in ..

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