Greece Prime Minister George Papandreou said it is very important that Greece receives a signal of support from its European partners. Speaking at a news conference in Berlin with German Chancellor Angela Merkel, he said Greece will definitely fulfull its obligations and that Greece aims to be without a primary deficit from 2012. "The conditions
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Slovakia could yet derail plans to strengthen the euro zone's financial rescue fund, after the junior ruling coalition party rejected a proposal from its larger partner on Tuesday aimed at winning its support for expanding the fund's powers. All euro zone member states must ratify plans to give the European Financial Stability Facility (EFSF) new
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Greece's largest toyseller Jumbo posted on Tuesday a 19.4% rise in net profit for the full year to end June, thanks to the absence of windfall taxation this year. Net profit rose to 94.6 mln euros from 79.2 mln euros in the year-ago period when profits were burdened by 20 mln euros in one-off taxes
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. By Renee Maltezou As austerity bites and international lenders demand higher taxes and more cuts to salaries and pensions, ordinary Greeks are being worn down by the daily grind of strikes and protests that have come to punctuate their lives. Athenian mothers are exasperated by transport strikes preventing them taking their children to school,
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Russian Finance Minister Alexei Kudrin was ousted on Monday in a bitter and public conflict with President Dmitry Medvedev that has exposed deep cracks in unity over Vladimir Putin's plan to return to the Kremlin. Western investors regarded Kudrin as a guarantor of financial stability and said his departure would be a heavy blow to
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Asian shares rebounded and the euro clung to gains on Tuesday on hopes that euro zone officials will act to corral Greece's debt woes and prevent another full-blown banking crisis. Financial stocks and global miners were among those to rebound strongly, although some market players cautioned against undue optimism. "It's a knee-jerk reaction to the
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President Barack Obama topped up his re-election war chest with a string of successful West Coast fundraisers that ended on Monday and showed soft poll numbers had not dented his ability to raise big money. Despite tough economic times, supporters shelled out for events from Seattle to San Diego that likely raised upward of $5
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Bayern Munich's home game with Manchester City is the highlight of the second round of Champions League group matches on Tuesday and victory for the Germans would put them in the box seat in the tournament's most competitive section. The Bavarians, who are in fine form and occupy top spot in the Bundesliga after seven
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More than two years after Michael Jackson went into cardiac arrest at his mansion, the doctor who was treating the "Thriller" singer will come before a jury on Tuesday charged with responsibility for his death. Dr. Conrad Murray's trial is expected to give the public a glimpse into the King of Pop's final days as
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Iraq has signed a contract to buy 18 Lockheed Martin F-16 warplanes to bolster its air force, an adviser to Prime Minister Nuri al-Maliki said on Monday. The value of the deal was not immediately known, but a senior U.S. military official said recently the offer on the table for the Iraqi government was valued
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