Creditors have agreed to a plan to restructure Greek government bonds, Elinda Labropoulou reports
For a country that has faced many moments of truth over the past few years, Greece is on the cusp of what could be a real make or break moment.
For investors, the words credit default swap can bring back painful memories of 2008. But in the case of Greece, the dreaded derivatives may not be the ticking time bomb some have feared.
A "strictly confidential" report on Greece's debt projections prepared for eurozone finance ministers reveals Athens' rescue programme is way off track and suggests the Greek government may need another bail-out once a second rescue -- set to be agreed on Monday night -- runs out.
European stocks have rallied this year on hopes that a full-blown contagion can be avoided, but the outlook remains fraught with risks, not the least of which is what might happen with Greece.
A dispute over pension cuts stalled talks last night between leaders of Greece's fractious national unity government on tough new austerity measures, one of the last hurdles to be cleared before eurozone officials can sign off on a ?130B ($172B) bailout and save Athens from a messy default. However, officials said they were still confident of reaching a deal by the morning.
Greek debt talks are said to be progressing but officials have yet to announce a deal to scale back the nation's overwhelming debt load.
Journalist John Psaropoulos discusses what to expect of more talks over Greece's debt crisis.
Talks on restructuring Greek debt continued Saturday, with negotiators reporting some progress made toward reaching a deal with the nation's private creditors.
A deal on restructuring Greek debt remained elusive on Thursday, as the second day of talks ended with the nation's private sector creditors without an agreement.
Greece and its private sector creditors remain mired in deep negotiations over a deal to reduce the nation's crushing debt load.
Greek debt talks are set to resume this week as the country at the heart of Europe's financial crisis struggles to get another round of bailout funds.
For many analysts combing over the three-part deal to restore confidence in the eurozone, the most important things were not what was in the agreement -- but what was left out.
Moody's has cut Spain's sovereign credit rating, making it the last of the big three rating agency to take action in less than a month as confidence wanes over whether eurozone's fourth largest economy will be able to meet its ambitious deficit reduction targets.
German Vice-Chancellor and Economics Minister Philipp Rösler broke a long period of silence about a possible Greek default by saying that all options are to be considered.
CNN's Nina dos Santos explains how Greece's debt crisis continues to impact markets worldwide.
Moody's Investors Service downgraded Greece again Monday, to one class above default, following a new bailout package from its European neighbors.
Yonghao Pu, Chief Investment Strategist at UBS, discusses how the Greek debt crisis affects the Asian markets.
Greek prime minister says in Europe there is a strong will to do what is necessary to defend the Euro.
Think the debt crisis in Europe is over? Think again.
The dollar fell against the yen and pared back earlier gains against the euro after the Federal Reserve cast a shadow over hopes for a stronger economic recovery.
If you were thinking of taking advantage of this year's rebound in the dollar to book that long overdue trip to Paris, you might want to reconsider.
Investors are considering European stress test results, as stocks remain volatile, worries about a sluggish U.S. economic recovery persist and confidence in the euro zone and nations abroad increases.
Is the Europe debt crisis over? The financial markets are behaving as if it is. And it's not just giddiness about the all-Europe final in the World Cup.
Kohlberg Kravis Roberts & Co., the takeover titan immortalized in the book and television movie "Barbarians at the Gate," will finally start trading on the New York Stock Exchange next week.
Travel on the continent is less expensive than it has been in several years, thanks to the euro's recent 15% plunge against the dollar.
Oil prices continued to slide Tuesday, as demand for risky assets faded and the dollar gained strength against the euro on mounting fears over a global economic slowdown.
The euro's collapse has been spooking financial markets of late, driving down stock prices worldwide from recent highs. But your overseas returns are probably even worse, because when you translate a foreign market's gains or losses back into dollars, you also have to take into account how the local currency is faring against the greenback.
The dollar was little changed against the euro early Friday, but the shared currency was still on track to post its second consecutive weekly gain and is at a three-week high.
Gold prices hit a record high settlement Thursday, driven by continued anxiety over the economy.
It became fashionable over the past few weeks to proclaim that the euro was on a non-stop collision course with dollar parity. It was obvious that the euro would continue to sink like a stone.
Stocks surged Tuesday, pushing the Dow up over 200 points, as worries about Europe's debt woes hurting U.S. growth eased and the euro rallied.
Treasurys edged lower Monday as upbeat economic data from the euro zone boosted the euro, limiting the demand for safe haven assets.
The euro soared almost 1% against the dollar Thursday after the European Central Bank said it would maintain its liquidity measures, easing some fears of debt crisis in the zone.
(CNN) -- The future of the eurozone seems to be hanging in the balance at the moment, and with it the future of the global financial system.
The euro regained ground against the dollar for the second straight day, after touching new four-year lows earlier in the week.
Fear has taken control of the markets as sovereign debt woes in Europe remain in the spotlight, spurring demand for low-risk investments such as the dollar, gold and U.S. Treasurys.
The euro posted minor gains against the dollar Tuesday, after reaching fresh four-year lows the previous day.
The euro kept falling against the dollar Monday, after plummeting below $1.20 and posting fresh four-year lows late last week.
Stocks slumped Friday after a government report showed employers added fewer jobs than expected last month and the euro plunged to a new 4-year low, reviving worries about the health of the European economy.
The euro fell to a fresh four-year low below $1.20 Friday, as investors cast fresh doubts on the European debt crisis and a global recovery after gloomy economic statements out of Hungary and a disappointing U.S. jobs report.
In the late 1990s, as the European Union touted its grand plan for a single currency, I called Milton Friedman at the Hoover Institution to ask the 20th century's most influential monetarist for his view of how the euro would transform Europe. It was no surprise that the frugal Friedman called me back collect. He always did.
In 2007, former Federal Reserve Chairman Alan Greenspan told a German newsweekly that it was "absolutely conceivable that the euro will replace the dollar as the reserve currency, or will be traded as an equally important reserve currency."
The euro has been down so long, maybe there is no place for it to go but up?
The euro leaped 1.5% against the dollar Thursday as global stocks rallied, following a recent trend in which the shared currency tends to recoup some losses toward the end of the week.
The euro continued its slide against the dollar Wednesday, but losses were limited as European stocks rallied.
The euro got no relief Tuesday, continuing its steady slide amid a global stock sell-off as worldwide concerns weighed on the shared currency.
Wall Street's key volatility measure fell Tuesday as stocks, battered by persistent worries about the health of European banks and sustainability of the global economic recovery, pared losses.
Despite the turmoil in the eurozone, there's a bit of a love fest going on across the Atlantic. Estonia has worked hard and behaved well, and it's now time for the little country to adopt the euro. And the euro, right now, just wants to be wanted.
Treasurys rose Monday as stocks ended lower, the euro sank and fears about the global economic recovery persisted.
The euro recovered from earlier losses Thursday amid speculation that the European Central Bank could intervene in the currency market, following signs the Swiss National Bank is already doing so.
Stocks slumped Tuesday as the euro touched a fresh four-year low versus the dollar, keeping Europe's woes front and center and overshadowing better-than-expected earnings from big U.S. retailers.
Treasurys rallied Tuesday as stocks closed lower, the euro tumbled and investors digested conflicting economic data from the government.
The euro pared fragile gains Tuesday, touching a new 4-year low, amid new concerns about Europe's debt crisis.
Oil prices slipped to a new 7-month low Tuesday as the dollar neared a new four-year high against the euro.
Whether or not Gisele and Jay-Z are still dancing, the euro party looks to be over.
Research fellow Vanessa Rossi explains why the Euro is still in trouble even after promised bailouts.
Treasurys gave up gains late Monday as stocks rebounded and the euro recovered from earlier losses.
The euro pared earlier losses after European stocks staged a turnaround and moved higher.
U.S. stocks erased losses and finished higher Monday after the euro rebounded from a four-year low and gained ground against the dollar, despite lingering worries about Europe's financial crisis.
The euro is falling. Low. Way low. The important questions are: How low will it go? And what does its fall mean to us?
World markets ended mixed Monday, with Asian stocks diving and European indexes paring losses.
Stocks slumped Friday on worries that Europe's economic woes could spread to the United States, while the euro fell to 18-month lows versus the dollar and gold hit fresh records.
The euro fell to an 18-month low against the dollar Friday as investors remain worried about the outlook for economic growth in Europe.
Gold continued its record run Friday, coming to within 30 cents of $1,250 an ounce, amid continuing concerns about the European debt crisis.
The dollar turned higher against the euro and pound Thursday, as investors turned back to long-term debt problems in Europe and mulled major budget cuts in several countries.
Treasurys declined Wednesday as signs of improvement in the euro zone overshadowed solid results from a government auction of 10-year notes.
The euro's plunge against the dollar this year may be bad news for big American companies. And that may not be priced into the market just yet.
Stocks rallied Monday after European officials approved a nearly $1 trillion rescue plan to contain the debt crisis in troubled nations and stabilize the euro.
U.S. stock futures soared Monday, positioning Wall Street toward joining a worldwide rally, after European Union officials approved a $900 billion bailout to stabilize the euro and rescue debt-choked Greece.
Treasury prices slipped and shed their safe-haven appeal Friday after Greece said it will seek a bailout from the European Union to abet its debt crisis.
The dollar fell versus the euro Monday after the European Union announced additional steps to aid Greece, but the decline was tempered ahead of corporate financial results.
The dollar fell against major currencies Monday as the euro continued to strengthen on last week's announcement that European Union leaders will aid debt-stricken Greece if necessary.
The dollar rebounded Thursday following reports that European Central Bank president Jean-Claude Trichet has opposed a plan to aid Greece using support from the International Monetary Fund.
Athens is abuzz with a rumor: Greece might leave the euro zone and adopt a new currency -- a Greek euro, so to speak, something of a cross between a drachma and a euro to be used only internally. Some hungry economists have jokingly given the new money a nickname: the "Gyro."
Oil fell Friday as fresh worries over Greece's debt crisis pushed the dollar higher against the euro.
Stocks ended with modest losses Thursday, fighting off a bigger decline that surrounded the latest worries about Greece's debt crisis and weaker-than-expected reports on the economy.
CNN's Jim Boulden talks to an Athens public sector worker who says now is not the time for Greek workers to strike.
The Greek crisis has thrown another detour into the euro's march to world currency domination.
The dollar surged to a 4-month high against the euro Wednesday amid ongoing concerns about the Greek economy and speculation that Chinese monetary officials could move to tighten credit conditions.
The dollar rose against the euro Tuesday amid ongoing concerns about Greece and other troubled European economies.
Many places are willing to help you turn gold into cash, but the prices they pay can vary widely. Poppy Harlow reports.
The dollar gained against the euro and the yen Monday as investors continued to worry about further danger for the economies of Europe and Japan.
The dollar jumped to a two-week high against the euro Wednesday, spurred by falling oil prices and apparent weakness in the European economy.
Confidence in the euro-zone economy dropped in June to its lowest level in nearly five years, a government survey said Friday
The European Central Bank left its key interest rate steady at 4 percent on Thursday as the bank's president said inflation was expected to remain high
Ever since the dollar began to fall against the euro in 2002, a chorus of government officials, economists and business executives around Europe - from the CEO of Airbus to the Prime Minister of Luxembourg - has complained publicly and in near-apocalyptic terms about the greenback's decline. Their argument has been that the tumbling dollar makes European goods less competitive on world markets and thus poses a big threat to the European economy overall.
Europeans might be enjoying stateside shopping sprees, but economic chiefs want the U.S. to stop its currency's slide
The dollar briefly fell to another low against the euro Friday in European trading before regaining some ground.
European stocks reversed losses and rose by midday Wednesday as a bounce in U.S. stock futures eclipsed worries that the turmoil in the U.S. subprime market poses a threat to economic growth.
Wary financial markets awaited a public appearance by European Central Bank chief Jean-Claude Trichet Monday after a German bank holed by the U.S. subprime mortgage crisis was sold.
European stocks advanced early on Monday, mirroring a rise in U.S. and Asian shares as worries over the health of the U.S. economy dissipated following robust U.S. home sales and durable goods orders data.
European stocks posted their biggest gains in 15 months on Monday, recovering some of last week's losses as a liquidity injection from central banks soothed investor nerves, while bank stocks rallied.
European shares suffered their biggest one-day percentage decline in more than four years Friday, fueled by fears of a liquidity crisis stemming from problems in the U.S. subprime mortgage market.
Trans-Atlantic exchange NYSE Euronext said Tuesday its U.S. and European trading volumes hit a record in July, when markets hit record highs and then fell sharply due to worries over credit markets.
European shares ended strongly for the second straight session on Wednesday, with a key benchmark hitting its highest closing level in two weeks, but volume was stifled by a U.S. holiday.
European stocks ended higher Friday, despite a potential terrorist attack in London and weakness in the banking and mining sectors. Concerns over interest rates continued to nag at investors after the Federal Reserve signaled that inflationary pressures remain a concern.
The London Stock Exchange is in talks over a possible merger with Borsa Italiana, in its latest attempt to head off expansion of the combined New York Stock Exchange and Euronext.
European stocks ended steady Tuesday as drugmakers AstraZeneca and Roche rose on improving prospects for their cancer drugs, but weakness in U.S. shares weighed on the broader market.