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Greece rejects bailout offer

Greece voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy. This referendum, which is the first in more than four decades, adds to the uncertainty about Greece’s future in

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Germany’s business morale stays high despite geopolitical uncertainty

According to a survey by the Ifo institute, business confidence in Germany has jumped to 106.8 points in February from 106.7 points last month. While the figure is below analysts’ expectations of 107.7, it does suggest that Germany’s business confidence

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Greek debt is containable, says the troika

The troika, which includes the European Commission, the European Central Bank and International Monetary Fund (IMF), has said Greece will return to growth in 2014 after the release of the next tranche of financial support. The troika recently reviewed the

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Greece the most corrupt country in the EU

According to the Transparency International’s 2012 Corruption Perceptions Index recent survey on 176 countries worldwide, Greece is perceived to have the most corrupt public sector of all 27 EU countries. The country’s economic turmoil and widespread tax evasion has caused

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Eurozone extends deadline for Greece to budget targets

The Eurozone has agreed to allow two more years for Greece to meet its deficit-reduction targets. The Eurozone finance ministers met in Brussels and endorsed a proposal to extend from 2014 to 2016, as demanded by international lenders. The two-year

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Greek Exit from the Eurozone would a ‘catastrophe’- former Greek PM

Former Greek PM  George Papandreou said that a Greek exist from the Eurozone would be a “major catastrophe”. According to him, the Euro is keeping Greece stable. Leading the Eurozone would mean a bank run, higher inflation, deep wage cuts

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Suicides Rise as Greece Increases its Austerity Measures

Protesters have clashed with riot police in the Greek capital, Athens, hours after a pensioner shot himself dead outside parliament. The 77-year-old man killed himself in the city’s busy Syntagma Square on Wednesday morning. Greek media reported he had left

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