Greek officials say the deal eases their country's debt burden by €105 billion. Next up: Action by the European Union to determine if Athens will get emergency loans to help avert a default.
Deutsche Bank has taken 5-10 billion euros ($6.6-$13.3 billion), of the European Central Bank's (ECB) long-term refinancing operation (LTRO), which offers three-year loans to banks at a rate of 1 percent according to a report.
The result should clear the way for the European Union and International Monetary Fund to release a 130 billion euro bailout package agreed with Greece in February.
Greece had until Thursday afternoon to persuade at least 70 percent of private holders of its government debt to accept a swap that includes losses of up to 74 percent.
Ahani also said that foreign powers need not fear Iran’s atomic ambitions.
Khamenei also criticized Obama for “still harboring illusions” that economic sanctions will pressure Iran to relinquish its nuclear activities.
China has blocked purchases of Airbus planes by Chinese companies in reaction to a controversial European carbon tax, the CEO of Airbus parent European Aeronautic Defense & Space Co. NV (Paris: EAD) said Thursday.
Wall Street opened higher on Thursday as strong uptake by investors in Greece's debt swap fed optimism a deal could be completed by a deadline later in the day, staving off a messy default.
Wall Street opened higher on Thursday as strong uptake by investors in Greece's debt swap fed optimism a deal could be completed by a deadline later in the day, staving off a messy default.
Greece moved closer on Thursday to concluding a bond swap deal with private creditors that it desperately needs to stave off a messy default and buy time to repair its exhausted economy.
The European Central Bank is expected to keep interest rates on hold later on Thursday and signal that it has played its part in fighting the euro zone crisis after unleashing a dramatic sweep of measures that has unsettled some at the bank.
The European Central Bank is expected to keep interest rates on hold later on Thursday and signal that it has played its part in fighting the euro zone crisis after unleashing a dramatic sweep of measures that has unsettled some at the bank.
Campbell's announced that they will phase the controversial chemical BPA out from all of its cans. The announcement comes as the FDA considers a ban on BPA in all food and drink packages.
Greek tourism revenues could drop by up to five percent in 2012 due to a fall in pre-bookings from Germany, industry officials said Wednesday, denting hopes the key sector will help pull the country out of the Eurozone financial crisis.
A new European Union law preventing insurers discriminating on the basis of gender will see the cost of premiums for women across the continent rise when it comes into effect later this year.
Juppe’s stand would seem to contradict the more belligerent tone that French President Nicolas Sarkozy has taken with respect to the Iranians.
The comments come as more private investors signed up to a crucial debt swap deal set to make or break the country's continued use of the Euro and its membership of the EU.
Iran, which insists it seeks to develop atomic energy for purely peaceful purposes, has not set a date or locale for such talks.
A U.S. trade bill targeting Chinese imports goes against international rules and Beijing will not adjust the value of its currency to try to bridge a trade deficit that is Washington's problem to fix, China's commerce minister said on Wednesday.
The European Commission may on Wednesday tell Hungary it still has concerns over disputed laws, potentially further delaying new talks on an aid deal needed to keep the country solvent.
Asian shares fell for the third day in a row Wednesday as investors grew more risk averse, with renewed uncertainty over Greece's bailout and mounting worries about slowing global economies overshadowing support provided by ample liquidity.
Asian shares fell for a third day in a row Wednesday as investors grew more risk-averse, with renewed uncertainty over Greece's bailout and mounting worries about slowing global economies overshadowing support provided by ample liquidity.
