Thousands of German Stores on Brink of Closure - Tasnim News Agency

Over 15,000 German stores are facing bankruptcy due to soaring energy costs, according to the German Retail Association (HDE).

IMF review of rules for Ukraine’s benefit may set serious precedent for international law

The International Monetary Fund (IMF) will set a serious precedent in case it carries on its lending program for Ukraine despite Kiev’s refusal to repay $3 bln to Moscow, Ukraine’s former minister of economy and financial expert Victor Suslov told TASS on Thursday, adding that this kind of decision would have been purely political and would have demonstrated revamping of the whole system of international law.

IMF Mulls Reforms to Allow Lending to States in Default

The International Monetary Fund (IMF) seeks to reform its lending policies in order to allow countries to borrow money even if they default on their obligations to bilateral creditors, IMF Communications Director Gerry Rice said in a briefing on Thursday.

Rusia insta a Ucrania a pagar sus deudas o declararse en bancarrota

Rusia ha exigido a Ucrania a devolverle la deuda de 3.000 millones de dólares o entrar en suspensión de pagos.

EU tells Greece it must do more to earn rescue

Eurozone leaders told near-bankrupt Greece at an emergency summit Sunday that it must enact key reforms this week to restore trust before they will open talks on any new financial rescue to keep it in the European currency area.

Greek parliament backs government debt reform package

Greece's parliament approved a government package of economic reforms aimed at ending the country's debt crisis and securing a new bailout from the European Union.

Hollande says Greece's new proposals "serious, credible"

French President Francois Hollande said Friday that the Greek government's proposals for a debt deal with its lenders to avoid a looming bankruptcy and exit from the euro zone are "serious and credible."

Greece eyes austerity in fresh EU bailout bid

Greece has submitted a fresh proposal to its eurozone creditors in a bid to secure a $59bn rescue package to help cover its debts until 2018 and stave off bankruptcy.

Greek government to seek parliament approval for negotiations on Friday (government source)

The Greek government will ask for parliament's approval on Friday to negotiate on the text of "prior actions" that could form the basis of a cash-for-reforms deal with the country's international creditors, a government source said.

Ukraine to get new IMF loans despite inability to repay private lenders

Despite the grievous state of the Ukrainian economy, the IMF said it will continue to lend money to Ukraine, so Kiev can complete economic restructuring.

Alemania advierte contra la quiebra repentina de Grecia

El ministro de Finanzas de Alemania, Wolfgang Schäuble, ha advertido contra la bancarrota repentina de Grecia que vive una crisis financiera.

"La experiencia de otras naciones muestra que el país podría perder su solvencia de modo súbito", dijo Schauble en una entrevista a la edición Frankfurter Allgemeine Sonntagszeitung.

No cash for Greece (EU)

Euro zone finance ministers warned Greece on Friday that its leftist government will get no more aid until it agrees a complete economic reform plan, as Athens lurches closer to bankruptcy.

EU warns Greece reform push 'not there yet'

The EU warned March 30 that Greece and its creditors had yet to hammer out a new list of reforms despite talks lasting all weekend aimed at staving off bankruptcy and a euro exit.

Greece to Delay Sending Reform List Until Tuesday

Greece will miss Monday’s deadline for submitting a list of draft reforms aimed at securing an extension of its bailout programme and will send the list to its eurozone partners on Tuesday morning, according to insiders.

Greek finance minister: Euro will collapse if Greece exits (Sharp response from Italian Economy Minister Pier Carlo Padoan)

If Greece is forced out of the euro zone, other countries will inevitably follow and the currency bloc will collapse, Greek Finance Minister Yanis Varoufakis said, in comments which drew a rebuke from Italy...

Selling in ruble takes Turkish agro businesses to brink of bankruptcy

Turkish agriculture sector producers, who had raised their hopes of taking a larger share in the Russian market due to Moscow’s political rows with Europe, are now paying the price of advanced sales in the ruble, the Russian currency that is currently in free fall.

Ukraine voters seek leader to save nation

KIEV/MARIUPOL- - Ukrainians voted on Sunday for a leader they hope will save their country from bankruptcy, dismemberment and civil war, but eastern cities were turned into ghost towns where armed separatist fighters kept polling stations shut.

The election marks the culmination of a revolution that began in February when a pro-Russian president fled the country and spiralled into an existential crisis when Russian President Vladimir Putin responded by declaring Moscow's right to invade.

Europe offers further €1 billion in financial aid to Ukraine

The European Commission has proposed another 1 billion euro for Kiev, which will come as a part of the 11 billion euro package agreed earlier in March. Conditions for the new installment will be agreed in the coming weeks with the IMF.
A rapidly worsening balance-of-payments and weak fiscal situation in the wake of the latest developments in Ukraine pushed the EU to consider a new perk. 

"It is in the essential interest of Ukraine and of the EU to maintain peace and political and financial stability in our continent. This financial aid will help in stabilising the worsening financial situation in Ukraine and therefore will be one vital part of achieving a solution to the crisis," Olli Rehn, Vice-President of the European Commission responsible for Economic and Monetary Affairs and the Euro, said in a statement.

Λουκέτο βάζουν 36 επιχειρήσεις την ημέρα στην Ιταλία της κρίσης. Aπό το 2008 μέχρι το 2012 έκλεισαν 9.000 «ιστορικές επιχειρήσεις»

Ρεκόρ χρεοκοπιών ιταλικών επιχειρήσεων προκαλεί η οικονομική κρίση. Σύμφωνα με τα στοιχεία των εμπορικών επιμελητηρίων της χώρας, κάθε ημέρα χρεοκοπούν ή κηρύττουν πτώχευση κατά μέσον όρο 36 επιχειρήσεις.
Εξαιτίας της οικονομικής κρίσης, από το 2008 μέχρι το 2012 έκλεισαν 9.000 «ιστορικές επιχειρήσεις», που λειτουργούσαν δηλαδή για πάνω από 50 χρόνια. 
Πρόκειται για το 25% του συνόλου των εταιρειών οι οποίες πτώχευσαν.
Τους πρώτους έξι μήνες του 2013, σε σύγκριση με την ίδια περίοδο του 2012, ρεκόρ χρεοκοπιών σημειώθηκε στις περιφέρειες της Τοσκάνης (+33%), στην νότια περιοχή της Καλαβρίας (+31%), αλλά και στην βόρεια περιφέρεια Άνω Αδίγη (+26,9%).

Greek families struggle with austerity

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Two elections, two rounds of austerity measure and endless strikes and protests, Greece has struggled through 2012. Under the huge financial pressure, how are Greeks holding up?
Six people, all crushed into this small apartment of less than 100 square meters in Athens. But with the sole income coming from a near-bankrupt small jeweler firm, this is the best Annasta’s family can afford.
Annasta’s husband lost his job four years ago. To add more woes, six months earlier, he was paralyzed from the waist down after a stroke.