Lucas Papademos

Five years later, after the biggest bailout in the fund's history, Greece failed to make a USD 1.7 billion payment as required at the end of June – the first advanced economy ever to default on the IMF. Worse, after having received more than 240 billion euros in international aid, Greece economy is still in tatters.

Ex-PM warns Greece risks running out of cash by June

Former Greek prime minister Lucas Papademos warned Greece may run out of money by the end of June if international bailout funds are cut off following next month's election, a newspaper reported today.

Greek pro-bailout conservatives regain lead: Polls

Greece's conservatives have regained an opinion poll lead that would allow the formation of a pro-bailout government committed to keeping the country in the euro zone, a batch of new surveys showed on Saturday.

No Preparations in Greece for leaving Euro: Papademos

Former Greek Prime Minister Lucas Papademos says there are no preparations underway in Greece for possibly exiting the Euro.

Europe could trip up Wall Street bulls

Headline risk from Europe could trip up Wall Street`s bulls Wednesday.

Greece must seal debt swap by around March 10: PM

Greece must complete a swap of private holdings of its debt as part of a 130-billion-euro EU/IMF bailout package by around March 10 at the latest, Prime Minister Lucas Papademos said on Tuesday.

Decision day for 2nd Greek bailout, financing gaps remain

Euro zone finance ministers are expected to approve a second bailout for Greece on Monday, a move they hope will draw a line under months of turmoil that has shaken the currency bloc.

Factbox: Greek austerity and reform measures

Here is a look at the main measures debt-laden Greece will have to undertake over the next few years.

Austerity bill passing a lifeline for Greece: EU's Barroso

Jose Manuel Barroso, president, EU Commission tells CNBC-TV18's Shereen Bhan that he agrees the austerity measures imposed on the Greek people will be painful to pursue.

IMF, Greece continue talks to finalize bailout

The International Monetary Fund and Greek authorities continue talks to finalize details of a new rescue package following an agreement among the country's political leaders.

Greek party leaders fail to sign off on bailout

Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.

Frustrations soar as Greeks seek elusive bailout deal

Greek parties will try on Wednesday to agree a reform deal in return for a new EU/IMF rescue to avoid a chaotic default.

Greeks delay bailout talks as Merkel demands action

German Chancellor Angela Merkel told Greece on Monday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country's political leaders responded by delaying their decision for yet another day.

Greece on 'knife edge' in push to agree bailout

Greece's prime minister scrambled on Sunday to convince lenders and politicians to sign off on a 130 billion euro rescue, after his finance minister said just hours remained to clinch a deal to avoid a messy default.

Clock ticks on Greece's bailout deadline

Greek Prime Minister Lucas Papademos faces a critical task of convincing international lenders and political party leaders today to agree to the stringent terms of a 130 billion euro (USD 171 billion) rescue plan to stave off looming default.

A tale of two technocrats: Paths diverge for Greece, Italy

Greek Prime Minister Lucas Papademos and Italy's Mario Monti were appointed within days of each other last November to replace politicians who took their countries to the brink of financial collapse.

Greece, creditors strive to avoid costly default

Greece goes head to head with its creditors on Wednesday in a renewed attempt to break a deadlock in negotiations to slash the country's debt and stave off default.

Euro implies environment of monetary stability: Greece PM

Speaking exclusively to CNBC's Michelle Caruso-Cabrera, Greece Prime Minister Lucas Papademos said negotiators are close to reaching a mutually acceptable agreement with private creditors.

Is the eurozone heading towards a breakup?

Countries across Europe are reeling under a debt crisis. The Euro is under pressure because many countries don’t satisfy the parameters needed to be in the Eurozone

Greek PM says country must stay in euro

Greece needs to stay in the euro and realises its economy needs drastic reform, the country's prime minister said in a letter to international creditors in which he promised to stick to the terms of a debt reduction deal.

Spain's new leaders feel Euro zone heat with Greece & Italy

Spain's newly-elected leadership must to act fast to shore up investor confidence, analysts say, after the Socialist government became the fifth in the euro zone to be toppled by the debt crisis.

Cues that can direct Indian market today

The US markets closed higher amidst thin, choppy session, but ongoing worries over the Euro zone crisis limited gains. Both the Dow and S&P 500 clocked gains, but lacklustre action among tech stocks left the Nasdaq to end narrowly above the neutral line.

Here are cues that will guide your trade today

The US markets rebounded in a volatile session. But gains were limited as investors continued to monitor headlines from the Euro zone. Dow Jones jumped 85 points to close at 12,068.39, above the psychologically-important 12,000 mark.