The principal opposition party New Democrats, have called for early elections, warning that the referendum that Papandreou has proposed could endanger Greece’s membership in the European Union (EU).
Prime Minister George Papandreou's shock decision to call a referendum on Greece's bailout drew veiled threats from Germany on Tuesday and hammered markets edgy over the euro zone crisis.
Has Greek Prime Minister George Papandreou lost his mind, with a shocking decision to call a referendum on Greece's bailout offer from European nations hoping to avert a global financial meltdown spurred by Greece default?
Prime Minister George Papandreou's shock decision to call a referendum on Greece's bailout drew veiled threats from Germany on Tuesday and hammered markets edgy over the euro zone crisis.
Italian Prime Minister Silvio Berlusconi denied as entirely baseless a report that he had held a special meeting with French President Nicolas Sarkozy and German Chancellor Angela Merkel after last week's summit meeting of European Union leaders.
Almost 60 percent of Greeks view the new EU agreement providing for a new bailout package as “negative” or “probably negative”,
Gold prices fell 1.4 percent Monday as the bankruptcy of a broker-dealer heavily invested in European sovereign debt drove investors to the safety of the dollar.
Zimbabwean President Robert Mugabe denied speculation his health is failing and hinted at taking action against Swiss firms in retaliation for his wife and aides being denied visas to visit Geneva, the official Herald newspaper reported on Monday.
Markets have over-interpreted comments by incoming European Central Bank chief Mario Draghi on the bank's readiness to go on buying the bonds of troubled euro zone states, outgoing ECB President Jean-Claude Trichet said.
The euro area is headed toward a sharp economic slowdown in 2012, with some countries set for negative growth, and failure to restore confidence in battered state finances could prompt a major contraction in developed countries, the OECD said on Monday.
Italian bond yields rose on Monday nearly to levels seen in August when the ECB intervened to shore up debt markets, indicating new concerns that problems in the euro zone's third largest economy could threaten the entire bloc.
Italian bond yields rose on Monday nearly to levels seen in August when the ECB intervened to shore up debt markets, indicating new concerns that problems in the euro zone's third largest economy could threaten the entire bloc.
Global unemployment now already exceeds 200 million, the highest level ever reported.
Ratings agency Moody's has cut its outlook for the European steel industry to negative and said it expects demand to weaken by up to 4 percent in the next 12 months, as the industry faces economic strain and weak construction and auto markets.
Banks led European shares lower on Monday, giving up some of last week's hefty gains as demand for detail on the recent euro zone debt deal teed up a weak end to a bumper month, with the broader market on course to snap a five-month losing streak.
Banks led European shares lower on Monday, giving up some of last week's hefty gains as demand for detail on the recent euro zone debt deal teed up a weak end to a bumper month, with the broader market on course to snap a five-month losing streak.
Markets have over-interpreted comments by incoming European Central Bank chief Mario Draghi on the bank's readiness to go on buying the bonds of troubled euro zone states, outgoing ECB President Jean-Claude Trichet said.
Ask senior European Union policymakers in private what can stop the euro zone's festering sovereign debt crisis and the answer is the European Central Bank.
The head of Europe's bailout fund, in Asia on a tour for potential investors, said on Monday he had been reassured by Japan's top currency official that Tokyo would continue to buy its bonds.
Eurogroup chairman Jean-Claude Juncker said on Sunday it made sense for China to invest its surplus in Europe to help the region overcome its debt crisis, but this would not involve political concessions.
Europe should not expect China to ride to the rescue as its savior from the debt crisis, though Beijing will do what it can to help a friend in need, the state-run Xinhua news agency said in a commentary Sunday.
Europe still has a long way to go to solve its crisis, German Finance Minister Wolfgang Schaeuble was cited as saying by a magazine, noting it was key that Italy did its homework and implemented promised reforms.
