"Acropolis, Adieu! Why Greece must leave the euro," reads the front-page headline of Germany's most influential magazine Der Spiegel, joining a chorus of voices in Europe's paymaster country suggesting an exit may now be the best option. In a sign Germany is coming to terms with a possible Greek departure, senior players in both business
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Asian shares remained under pressure on Monday after talks to form a Greek government failed, with China's latest move to loosen monetary policy only adding to investor risk aversion as it underscored how Europe's plight is hampering global growth. European shares will likely slide, with financial spreadbetters predicting that major European markets would open down
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The leader of Greece's moderate Democratic Left party reaffirmed on Monday that he would not participate in a coalition government with the centre-right New Democracy and the socialist Pasok if the more radical leftist SYRIZA group did not take part, hours ahead of a final round of talks. "A government that does not ensure the
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A mix of 15 bidders have applied for rights to explore nine blocks in the Cyprus offshore natural gas licensing round that ended on Friday. These include international heavyweights Total, Petronas, Gazprom, Marathon and ENI. Trade Industry Neoclis Sylikiotis said the bidders were from the U.S., U.K., France, Israel, Netherlands, South Korea, Russia, Italy, Malaysia,
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U.S. stock index futures fell on Friday and were on track to extend the week's losses after JPMorgan Chase & Co revealed a trading loss of at least $2 bln from a failed hedging strategy that weighed on bank shares. The news sent shares of the Dow component down 8.1% to $37.42 in premarket trading,
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Thomas Cook has agreed to sell and lease back 17 aircraft, providing 183 million pounds ($296 million) to ease pressure on the debt-laden British travel company after its first-half loss widened. Chief Executive Sam Weihagen said on Friday the aircraft disposals provided substantial additional liquidity against a backdrop of a difficult trading environment. "As expected,
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The leaders of Greece's once-dominant political parties made a last push on Friday to avert a new election, which a poll showed would give victory to a radical leftist and doom an EU bailout. The majority of Greeks want to stay in the euro zone but voted last Sunday for parties that reject the severe
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. * State ownership risks leaving too many skeletons in the cupboard * BY FIONA MULLEN I hope that it is not already too late to say this, but shareholders of the Cyprus Popular Bank/Laiki, formerly Marfin Popular Bank, should be praying that the bank gets EU and IMF permission to split it into a
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. BY STAVROS A. ZENIOS Cyprus society lost four billion euros as a result of bank investments in Greek government bonds. This is a conservative estimate. Losses are expected to be much higher from defaults of private and corporate loans. Assuming that the 20% default rate estimated by BlackRock apply to Cypriot banks operating in
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The case for Cyprus DR. JIM LEONTIADES Cyprus International Institute of Management Too much borrowing. That is the common root of much of the current financial crisis. If growth is to be resumed in the Euro-zone, many citizens, businesses and governments will have to reduce the proportion of their borrowed funds, to deleverage. The McKinsey
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