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Greece Business - Page 5

Greece to repay maturing debt: govt source

Greece will repay 436 million euros ($A564 million) in maturing debt, covering private creditors who had refused to take part in a write-down under an EU-IMF bailout, a government source says. Ref. Source 8

Business Greece

Greek President Told Banks Anxious as Deposits Pulled:

Central bank head George Provopoulos told Papoulias that Greeks have withdrawn as much as 700 million euros ($891 million) and the situation could worsen, according to the transcript of the president's meeting with party leaders on May 14 that was published yesterday. Ref. Source 9

Greece Business History & Civil Business Politics

Germany: no more chances for Greece:

Germany will block any new aid to Greece if the government does not fully comply with the terms of previous rescue packages, even if other countries support unlocking funds, another senior lawmaker said on Sunday. Ref. Source 4

Page 5 Business Greece

Greece Will Probably Leave Euro Within Six Months, Borg Says:

As European Union leaders prepare for a summit next week devoted to saving the euro, Swedish Finance Minister Anders Borg said Greece may quit the common currency within the next six months. Ref. Source 8

Business Greece

Greece Austerity Diet Risks 1930s-Style Depression: Euro Credit:

Greece is spiraling into the kind of decline the U.S. And Germany endured during the Great Depression, showing the scale of the challenge involved in attempting to regain competitiveness through austerity. Ref. Source 6

Greece Business

The Greek Parliament voted Sunday to approve the nation's 2013 budget. It contains steep austerity cuts required for Greece to receive the next installment of a crucial economic bailout. Ref. CNN

Greece Business - Page 5

Greece bailout extension 'to cost 32bn euros more':

A draft document prepared for eurozone finance ministers suggests that Greece should be given two more years to meet budget goals, but that this will add 32.6bn euros ($41.4bn) to its bailout. Ref. Source 8

Greece Business Politics Business Civil & History - Page 5

Greece Given 2-Year Lifeline But Money Release Is Delayed:

Greece's international creditors failed to agree Monday on how to get the country's bailout program back on track and put off again the release of the next batch loans that Athens is using to pay its day-to-day bills. Ref. Source 9