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  • Greek prime minister puts bailout deal to referendum July 5 Jun 27, 2015 12:35 PM IST

    Greek prime minister puts bailout deal to referendum July 5

    In theory, without an extension, the country will lose access to any remaining bailout funds. The referendum announcement also raises severe questions over whether the debt-crippled country will be able to remain solvent and in the 19-state eurozone. Greece desperately needs a deal with its creditors.

  • Father of Grexit: 'Disaster' for euro zone if Greece leaves Jun 26, 2015 09:31 AM IST

    Father of Grexit: 'Disaster' for euro zone if Greece leaves

    The European Central Bank could manage those events with existing tools, including the activation of a "hyperactive" level of quantitative easing and purchases of sovereign bank debt on the primary market through the European Stability Mechanism.

  • ECB holds Athens lifeline unchanged as Bundesbank protests Jun 25, 2015 05:02 PM IST

    ECB holds Athens lifeline unchanged as Bundesbank protests

    ECB policy-setters held the limit on their emergency funding for the banks steady for the second day running, a source familiar with their talks said, having previously increased it steadily over many weeks.

  • Greek deal at risk from political rebellion Jun 25, 2015 03:37 PM IST

    Greek deal at risk from political rebellion

    Tsipras is in Brussels on Thursday to continue emergency talks with Greece's lenders after they rejected new reform proposals from his country earlier this week. Greece desperately needs further financial aid to avoid defaulting on its debt at the end of the month, but its creditors want an agreement on reforms before they release any more funds.

  • Greek crisis: PM says 'no deal' with creditors, mkts fall Jun 24, 2015 03:35 PM IST

    Greek crisis: PM says 'no deal' with creditors, mkts fall

    European markets turned lower following the statement, with Germany's Dax falling 1.2 percent and the Athens stock exchange down 3.3 percent minutes after the news emerged.

  • Greek offer to creditors stirs angry backlash at home Jun 23, 2015 08:57 PM IST

    Greek offer to creditors stirs angry backlash at home

    Euro zone leaders welcomed new budget proposals from Athens on Monday as a basis for further negotiations to unlock billions of euros in frozen aid and avert a default that could trigger a Greek exit from the single currency area.

  • ECB keeps Greece on life support as leaders meet Jun 23, 2015 09:36 AM IST

    ECB keeps Greece on life support as leaders meet

    With nervous Greek savers and firms withdrawing billions of euros in cash from accounts, the country's banks are almost entirely dependant on central bank funding to avoid collapse and potentially dragging down the country with them.

  • Asian shares bolstered by hopes for Greek deal Jun 23, 2015 08:10 AM IST

    Asian shares bolstered by hopes for Greek deal

    MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent, while Japan's Nikkei share average jumped 1.2 percent to a fresh 15-year high as investors bought back shares they sold in three losing weeks.

  • Greek tragedy may see RBI selling $15 bn to defend Rs 65 Jun 22, 2015 09:51 PM IST

    Greek tragedy may see RBI selling $15 bn to defend Rs 65

    If the much-awaited Greek deal fails, the Reserve Bank will have to sell as much as USD 15 billion to defend the rupee at 65 levels, says a report.

  • Greece deal urged as new proposals offered ahead of summit Jun 22, 2015 12:21 PM IST

    Greece deal urged as new proposals offered ahead of summit

    It is not clear what concessions have been offered by either side, but Greek premier Alexis Tsipras detailed what his office called a "mutually beneficial deal" in a phone call with German Chancellor Angela Merkel, French President Francois Hollande and European Commission President Jean-Claude Juncker.

  • EU welcomes 11th-hour Greek proposals in 'forceps delivery' Jun 22, 2015 09:49 AM IST

    EU welcomes 11th-hour Greek proposals in 'forceps delivery'

    EU chief executive Jean-Claude Juncker's chief-of-staff spoke of a "forceps delivery" as officials worked late into the night to produce a deal ahead of a summit of euro zone leaders in Brussels that they hope can keep Greece in the currency bloc.

  • Asia's week ahead: All eyes on Greece Jun 22, 2015 07:56 AM IST

    Asia's week ahead: All eyes on Greece

    Greece's Prime Minister Alexis Tsipras submitted a new reforms package Sunday, offering the potential for a last minute deal to break the logjam in talks with the country's international creditors. Greece desperately needs more aid before it runs out of cash and potentially defaults on loans to creditors.

  • Greece gets temporary lifeline for banks amid uncertainty Jun 20, 2015 11:39 AM IST

    Greece gets temporary lifeline for banks amid uncertainty

    In the streets of Athens, there were no visible signs of distress or larger than usual lines at banks or supermarkets. Officials, however, signaled an increase in withdrawals and transfers, which can also be made electronically.

  • ECB warns Greece future in EU doubtful if talks fails Jun 18, 2015 10:03 AM IST

    ECB warns Greece future in EU doubtful if talks fails

    The Bank of Greece said the country's future in the European Union itself could also be at risk without a deal, underlining the extent to which officials who once refused any suggestion of "Grexit" are now openly discussing the prospect.

  • ECB ups Greek bank's emergency funding by 2.3 bn euros Jun 18, 2015 08:06 AM IST

    ECB ups Greek bank's emergency funding by 2.3 bn euros

    The banking source told AFP the increase was "sufficient" to meet bank needs but did not divulge the total level of funding available to them this week.

  • ECB raises Greek bank aid ceiling: Report Jun 17, 2015 09:51 PM IST

    ECB raises Greek bank aid ceiling: Report

    Greek banks are currently reliant on a loan program offered by the European Central Bank known as Emergency Liquidity Assistance (ELA). This is designed to provide credit to financial institutions in the euro zone that are solvent but face "temporary liquidity problems."

  • ECB's Knot: Greek banks okay with stress but not default Jun 17, 2015 09:14 AM IST

    ECB's Knot: Greek banks okay with stress but not default

    Greek banks are solvent and could withstand some stress but would run into trouble if the Greek government were to default, European Central Bank Governing Council member Klaas Knot told the Dutch parliament on Tuesday

  • Rupee trend weak; see 66-66.20/$ by Q1 2016: DBS Bank Jun 16, 2015 04:51 PM IST

    Rupee trend weak; see 66-66.20/$ by Q1 2016: DBS Bank

    Rupee is expected to move towards 65.60 before the end of December, 2015 and more towards 66-66.20 by Q1 2016, Arvind Narayanan, Head Of Sales, Treasury and Markets, DBS Bank told CNBC-TV18.

  • This would be scary enough to give Fed pause Jun 16, 2015 08:25 AM IST

    This would be scary enough to give Fed pause

    While the odds are not viewed as high, there is some talk that if a looming Fed rate hike coincides with already anxious markets, the reaction could become jarring enough to give the central bank pause.

  • 'The ball lies firmly with Greece': ECB's Draghi Jun 15, 2015 09:50 PM IST

    'The ball lies firmly with Greece': ECB's Draghi

    Draghi said that the ECB had extended around 118 billion euros (USD 133 billion) to Greek banks in 2015, more than double the amount in 2014 and equivalent to around two-thirds of Greece's gross domestic product (GDP).

  • Greece on 'brink of disaster', calls emergency meeting Jun 15, 2015 03:47 PM IST

    Greece on 'brink of disaster', calls emergency meeting

    Greece's Prime Minister Alexis Tsipras is to hold an emergency government meeting at midday London time, according to Greek media reports.

  • Greece, Fed rate hike concern for EMs: Standard Chartered Jun 15, 2015 03:30 PM IST

    Greece, Fed rate hike concern for EMs: Standard Chartered

    Talking to CNBC-TV18, Sarah Hewin, Senior Economist, Standard Chartered said the two main concerns for mutual agreement between Greece and IMF are pension scheme and VAT.

  • Greece and creditors fail in 'last attempt' to reach deal Jun 15, 2015 08:31 AM IST

    Greece and creditors fail in 'last attempt' to reach deal

    Talks on ending a deadlock between Greece and its international creditors broke up in failure on Sunday, with European leaders venting their frustration as Athens stumbled closer towards a debt default that threatens its future in the euro.

  • Greece's PM under pressure for concessions in debt talks Jun 12, 2015 01:38 PM IST

    Greece's PM under pressure for concessions in debt talks

    Greek Prime Minister Alexis Tsipras was under intense pressure to deliver crucial concessions to international creditors on Thursday to break a four-month deadlock and save his country from looming default that could pitch it out of the euro zone.

  • RBI extends ECB borrowing window for airlines till Mar 2016 Jun 11, 2015 07:07 PM IST

    RBI extends ECB borrowing window for airlines till Mar 2016

    This limit can be utilised for working capital and also refinancing of the outstanding working capital rupee loan availed from the domestic banking system. In another notification, the RBI said the scheme of raising ECB for low-cost affordable housing projects will continue for the financial year 2015-16.

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