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Bank of Greece

Greece cites progress in talks with EU/IMF lenders, aims for May deal

Negotiations between Greece and its international lenders over reforms to unlock remaining bailout aid have made headway and an agreement could be closer this month, a government official said on Sunday.

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Greece

Ratings agencies say no default if Greece misses ECB, IMF payments

Most top credit rating agencies say they would not cut Greece's rating to default if it misses a payment to the International Monetary Fund or European Central Bank, a stance that could keep vital ECB funding flowing into the financial system.

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Greek flag

Greece prepares reform bill, lenders seek concessions

Euro zone officials sought to wring policy concessions from Greece on Wednesday to unlock urgently needed aid after Athens said it would present a list of reforms for legislation to show it is serious about implementing its promises.

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Greece

Greece reshuffles EU/IMF negotiating team after Riga debacle

Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move widely seen as an effort to sideline embattled Finance Minister Yanis Varoufakis to a less active role in negotiations.

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Greek and EU flags

If Greece falls, no one wants their prints on the murder weapon

"We're going bust." "No, you're not." "You're strangling us." "No we're not." "You owe us for World War Two." "We gave already."

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Axel Weber

UBS chairman says Greek default increasingly seen by IMF as controllable

UBS's (UBSG.VX) chairman said a default by Greece is seen by the International Monetary Fund as "systemically controllable" and he believed it would have a negligible impact on the Swiss bank itself, according to a newspaper interview published on Saturday.

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Greek (L) and a European flag

Greece offers some concessions as 'tired' creditors urge progress

Greece offered some concessions on Friday on reforms demanded by international lenders in return for new funding before Athens runs out of money, but euro zone creditors said negotiations needed to speed up to get a deal by June.

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Greece's Prime Minister Alexis Tsipras

Greek cash seen lasting into June, no EU deal imminent

Greece can scrape together enough cash to meet its payment obligations until June, euro zone and Greek officials said on Wednesday, playing down fears of an imminent default as hopes receded of a deal with its creditors to release fresh aid.

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Frankfurt stock exchange

Upbeat earnings lift stocks, Greek anxiety hits euro

World stocks climbed back toward all-time highs on Tuesday as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default.

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IMF and World Bank's 2015 Annual Spring Meetings

IMF nations point to exchange rate, geopolitical risks

The International Monetary Fund's member nations on Saturday warned of risks to the global economy from exchange rate shifts and geopolitical tensions as they took note of "moderate" global growth and "uneven prospects."

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European Union flag (L) and a Greek national flag

Greece scrapes bottom of barrel in hunt for cash to stay afloat

Greece will need to tap all the remaining cash reserves across its public sector -- a total of 2 billion euros ($2.16 billion) -- to pay civil service wages and pensions at the end of the month, according to finance ministry officials.

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Traders

United States loses sparkle as Europe shows signs of hope

Investors will cast a wary eye on the latest gauges of the United States' economic health this week, while troubled Europe shows early signs of turning the corner.

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Greek (L) and a European flag

Greece may have blown best hope of debt deal

Even if it survives the next three months teetering on the brink of bankruptcy, Greece may have blown its best chance of a long-term debt deal by alienating its euro zone partners when it most needed their support.

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Tema oil refinery

Ghana oil refinery breakdown a symbol of economic woes

When it opened in 1963, Ghana's oil refinery symbolized pride and hope for the first African country to escape colonial rule. Now the plant stands idle in a sign of the economic shadow that has crept over one of the continent's brightest stars.

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Greece

Greece will make $485 million loan payment to IMF on Thursday: government source

Greece confirmed it will pay a 450 million euro ($485 million) loan installment to the International Monetary Fund on Thursday, a government official told Reuters.

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