Day one of Greece’s two-day strike that threatened to be the largest in years has grounded flights, disrupted public transport and shut down schools.
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/ 19 October 2011
A double-notch downgrade of Spain’s credit rating has piled pressure on Europe’s leaders to make progress on solving the region’s debt crisis.
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/ 18 October 2011
Scepticism over Europe’s ability to deliver a proper solution to its debt troubles and a warning from Moody’s weighed on world market sentiment.
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/ 17 October 2011
The eurozone and Greece face their "most critical week" as they battle to reach a solution to the debt crisis, says George Papandreou.
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/ 11 October 2011
Troika inspectors gave a lukewarm approval for a vital aid tranche to Greece, saying Athens was lagging on reforms needed to exit its debt crisis.
Welcome to the new normal. Billions of pounds were wiped off the value of shares in London on October 4.
Many Greeks, their lives ravaged by the debt crisis, are thinking of emigrating like hundreds of thousands who left for foreign shores after WWII.
The IMF says it’s "confident" of its talks with Greece on plans to trim its deficit that will lead to the release €8-billion in bailout funds
Stocks slid again as Europe struggled to contain a debt crisis in Greece that is threatening to plunge the continent back into recession.
Greece’s admission that it will miss its deficit targets for 2011 and 2012 hit European shares, with banking stocks among the worst performers.
Austria’s finance minister says Greece will more likely than not receive the next tranche of bailout cash it needs to stave off bankruptcy.
Greek officials have held talks with EU and IMF negotiators to free up urgently needed bailout loans.
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/ 27 September 2011
King Mswati III is unhappy that Greece is being bailed out by the IMF, not Swaziland.
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/ 22 September 2011
Greece has adopted more austerity measures to secure a bailout instalment, and the IMF warned Europe’s debt crisis is putting banks’ capital at risk.
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/ 21 September 2011
Stavros Lambrinidis says Greece’s fiscal adjustments made since revealing its debt and deficits two years ago were being undermined by stereotypes.
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/ 20 September 2011
A rising concern among SA investors is the growing tension between the members of the eurozone — many of whom are major trading partners.
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/ 20 September 2011
International lenders told Greece it must shrink its public sector to avoid running out of money within weeks as investors dumped eurozone assets.
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/ 19 September 2011
World stocks and the euro fell sharply as investors feared a messy Greek default within weeks unless Athens implements the austerity measures demanded
The cost of insuring against default on sovereign Greek bonds has continued to rise and calculations now predict a 98% chance of default.
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/ 15 September 2011
Asian stocks bounced after tentative steps by eurozone policymakers to tackle a crippling debt crisis, but investors remained wary.
King Mswati III says the International Monetary Fund and the World Bank must come to Swaziland’s rescue, just as they did for Greece and Portugal.
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/ 13 September 2011
Investors expect Europe to fall into recession in the next 12 months, according to the BofA Merrill Lynch Survey of Fund Managers for September.
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/ 13 September 2011
The eurozone’s leaders need to show markets they are taking responsibility for its debt crisis, says US President Barack Obama.
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/ 12 September 2011
Mounting fears over the possibility of a Greek debt default and signs of division within Europe’s policymaking circles sent bank stocks sharply lower.
Germany’s top court will decide on the legality of Europe’s rescue fund in a landmark ruling with major implications for future aid.
Finance Minister Evangelos Venizelos insists there is no rift with EU and IMF auditors, who say Greece failed to meet conditions to unlock funding.
Hundreds of fire-fighters held back wildfires on several fronts around Greece after an all-night struggle.
Financial market pressure on the euro zone eased a little this week as Italy’s borrowing costs fell and bank shares stabilised.
Greece says it will only go ahead with a bond swap plan, a critical part of its second bailout, if at least 90% of private creditors participate.
Greece will be ruled in default on its debt as a result of a new eurozone plan, Fitch ratings agency said on Friday.
The country in the firing line is Italy, which accounts for 20% of the eurozone’s output, as opposed to Greece’s 3%.
Eurozone leaders have agreed to a sweeping deal that will grant Greece a massive new bailout and radically reshape the currency union’s rescue.