Photo of the Day: Permanent Memories

2014-02-24 16:50

Sometimes, photos just don't do memories justice.

Greece aims to stem layoffs - policy plan

2012-06-24 12:35

Greece's new coalition government will seek to stem layoffs and extend by two years the application period of a tough recovery plan, says an official document.

Greece tourism hit by euro crisis

2012-05-20 11:17

Europeans are avoiding vacations to Greece this summer fearing instability sparked by the debt crisis, says industry sources.

Painful austerity bites into Greek budget

2012-04-23 13:10

Athens has seen its budget deficit fall to 9.1% of GDP as tough austerity measures curb spending.

El-Erian: Portugal may be the next Greece

2012-03-19 12:38

Pimco chief Mohamed El-Erian says he expects Portugal to be the next eurozone member to falter.

Greek debt could derail again - EU/IMF

2012-02-21 14:49

A confidential report by the IMF and EU, Greece's lenders, says if reforms are delayed, its debt could again rocket to unmanageable levels.

Eurozone set to deal Greece bailout hand

2012-02-19 10:23

The eurozone intends to draw a line under the contentious second Greek bailout.

ECB holds rates, faces grilling on Greece

2012-02-09 15:09

The European Central Bank stayed in wait-and-see mode and left interest rates unchanged but attention is now on whether it will help Greece avoid a messy default.

Greece lets another bailout deadline slip

2012-02-06 14:30

Athens again failed to respond to tough terms for a new EU/IMF bailout as patience in Brussels wore thin and it edged closer to a chaotic default.

Greece names and shames tax dodgers

2012-01-23 17:36

Greece's cash-strapped government has published a list of 4 000 of the country's top evaders as part of a bid to recover €60bn in unpaid taxes.

Greek tax officials on strike

2011-12-29 17:47

Greek tax officials walked off the job at the start of a 48-hour strike to protest salary cuts and other austerity measures.

Eurozone jitters drag down stocks

2011-11-10 18:55

European shares ended lower on fears that Italy's inability to form a unity government and high bond yield levels may deepen the region’s debt crisis.

Greek PM steps down wiithout naming successor

2011-11-09 19:29

Greek Prime Minister George Papandreou said he was stepping down without saying who would succeed him but sources said it would be the speaker of parliament.

Rand, JSE hammered by EU woes, Moody's

2011-11-09 18:46

SA stocks suffered the biggest one-day fall in 5 weeks and the rand dived on growing fears about Italy's economic collapse and after Moody's downgraded SA's outlook.

Markets spooked by Italian, Greek woes

2011-11-08 14:02

Investors fretted as Silvio Berlusconi's reform-shy government teetered on the brink and debt-crippled Greece battled to put together a unity government.

JSE edges lower as investors eye eurozone

2011-11-07 13:29

The JSE was slightly down as investors kept a wary eye on the eurozone debt crisis, amid growing concerns about Italy.

Brics want IMF reform for eurozone aid

2011-11-07 11:12

The Brics bloc, which includes SA, will give financial aid to the eurozone via the International Monetary Fund if it implements reforms, says Russia.

Stocks, oil up on ECB, Greece hopes

2011-11-03 19:35

Global stocks and crude oil rallied on rising hopes Greece will abandon plans to hold a referendum over a euro-zone bailout.

Greek drama overshadows G20 meeting

2011-11-03 16:15

As world leaders started talks on tackling global economic woes, the chaos in Greece dominated.

Report: Greece must undertake deeper reforms

2011-10-09 11:01

A leading member of the international team assessing heavily indebted Greece's progress says the government must undertake even deeper reforms.

German MPs OK new powers for crisis fund

2011-09-29 12:31

The Bundestag approved new powers for the eurozone’s crisis fund with the coalition lead by Chancellor Angela Merkel carrying the vote, allaying fears of a rebellion.

JSE on the front foot in light trade

2011-09-16 13:31

The JSE firmed in midday trade, albeit in light trade following a futures close-out which generated large volumes.

JSE stays weaker on risk aversion

2011-09-12 14:45

The JSE remained decidedly weaker in midday trade, with general mining counters leading the downside.

JSE rebounds on Greek news

2011-06-24 10:16

The JSE has opened sharply firmer, as optimism over the resolution of the Greek debt crisis boosted sentiment.

German banks warn of Greece contagion

2011-06-17 08:48

Germany's banking association has warned that a disorderly restructuring of Greek debt could lead to contagion in the markets.


Ministers: Bank to pump €1.4bn into Greece

2012-07-22 13:45

The European Investment Bank will inject €1.4bn by 2015 to fund infrastructure projects in Greece, say the ministers of finance and development.

G8 leaders hope Greece remains in Eurozone

2012-05-20 13:27

President Barack Obama says the US and other G8 members agree Europe's financial crisis must be addressed with a mix of growth and austerity measures.

Euro slips on Greek turmoil

2012-05-11 10:15

The euro remained under pressure as investors kept a close eye on political turmoil in debt-hit Greece.

Greek parliament approves bailout

2012-03-21 10:17

The Greek Parliament approved a second international bailout deal after thousands of anti-austerity protesters held peaceful protests against the deal.

EIB president: Europe must not lose Greece

2012-03-04 11:30

The loss of Greece would slow down European integration by several decades, says European Investment Bank president Werner Hoyer.

Cyprus hopes gas riches will avert contagion

2012-02-19 15:32

Cyprus residents and politicians are nervously watching the crisis unfolding in Athens but hoping that a giant offshore gas discovery will save them.

Greeks strike as EU demands more cuts

2012-02-10 12:12

Greek workers again protested against austerity after eurozone finance ministers demanded more cutbacks before releasing a second financial bailout.

Frustration mounts with bailout deal

2012-02-08 18:43

Greek party leaders finally gathered to agree a reform deal in return for a new EU/IMF rescue to avoid a chaotic default.

Greek debt talks slowed on labour deal

2012-02-05 13:11

A senior Greek official says debt talks needed to avoid bankruptcy in March have reached "a satisfactory level of agreement" but are being held up by a disagreement.

Greece, creditors edge closer to deal

2012-01-20 14:21

Greece and its private bondholders drew closer to a bond swap deal that would prevent the country from sinking into a chaotic default.

Swaziland delays civil servants’ salaries

2011-11-11 19:00

Cash-strapped Swaziland is unable to pay public servants at the end of the month.

Italy eyes unity cabinet as EU dithers

2011-11-10 16:53

Italy has followed Greece's lead and moved closer to a national unity government to be headed by a technocrat in an effort to avert a eurozone bond market meltdown.

Italy hits breaking point, sparks panic

2011-11-09 19:18

Italian borrowing costs reached breaking point after Silvio Berlusconi's insistence on elections opened the way to prolonged instability and delays to economic reform.

Stocks fall as Italy hits breaking point

2011-11-09 18:25

Global stocks and the euro slid as Italian borrowing costs reached a breaking point, and investors feared it could be facing a debt crisis similar to that of Greece.

Eurozone in rush to placate bond markets

2011-11-07 18:30

Eurozone governments have tried to reassure investors on feverish bond markets as the 17-nation currency bloc’s debt crisis threatened to accelerate out of control.

Rand dragged down by euro

2011-11-07 13:21

The rand was weaker as it tracked the euro, which was again hit by risk aversion as nervous investors turned their focus to Italy's debt and political problems.

Greeks want government to tackle crisis

2011-11-06 11:54

Polls showed that most Greeks are in favour of a national emergency government

Greek PM backs down on referendum

2011-11-03 18:07

After a day of drama, Greece's government, on the brink of collapse, backed away from a controversial referendum as EU leaders mulled the possibility of its exit from the eurozone.

EFSF chief sees no quick China deal

2011-10-28 11:27

The head of the European Financial Stability Facility says he expects China to continue buying bonds issued by the fund.

Rand tracks euro weaker over European debt

2011-10-03 12:42

The rand tracked the euro weaker in midday trade as doubts over Greece's ability to manage its debt weighed.

Week of trials ahead for Greece

2011-09-25 16:25

A difficult week lies ahead for Greece and the euro as experts prepare for a fiscal audit that will decide if the country can escape default.

JSE ends firmly weaker

2011-09-12 18:15

The JSE ended firmly in negative territory on Monday, but off the session's lows.

US stocks snap 6-week losing streak

2011-06-17 22:33

US stocks have ended the week higher amid hopes that Europe was on its way to containing the Greek debt crisis.

Greek rating cut to 'junk'

2011-01-14 21:29

The Fitch ratings agency has lowered Greece's long-term debt rating from investment grade to the "junk" level.

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