European Business & Economy
• Euro zone insists no Greek rescue without reforms
(Reuters)
Reuters - Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from the euro zone and the IMF.
• Greece on "knife edge" in last hours to agree bailout
(Reuters)
Reuters - Greece's prime minister scrambled on Sunday to convince lenders and politicians to sign off on a 130 billion euro ($171 billion) rescue, after his finance minister said just hours remain before the euro zone abandons the country to its fate.
• Wen says China has stake in helping Europe
(Reuters)
Reuters - China has a stake in helping euro zone countries get through their debt crisis, Chinese Premier Wen Jiabao said in comments published on Sunday, pointing to Europe's importance as a market and hinting at more possible support for beleaguered exporters.
• Euro zone loses patience with Greece
(Reuters)
Reuters - Euro zone finance ministers told Greece on Saturday it could not go ahead with an agreed deal to restructure privately-held debt until it guaranteed it would implement reforms needed to secure a second financing package from the euro zone and the IMF.
• Clinton: US, Europe must do more against tyrants
(AP)
</a>AP - The Obama administration on Saturday called for stepped up U.S.-European cooperation to isolate tyrannies like the Assad regime in Syria, promote democracy in the Arab World and beyond and repair damage from the global financial crisis.
• (AP)
AP - Greek finance minister: Debt talks held up by labor reforms.
• Report: Monti says Italy a "safe place"
(AP)
AP - Italy is now a "safe place" amid market turbulence, Premier Mario Monti said in an interview published Saturday, pressing for Europe to turn its political energy to generating growth rather than further plans to strengthen budget discipline.
• Clinton: US, Europe must work to defeat tyrants
(AP)
AP - U.S. Secretary of State Hillary Rodham Clinton is calling on Europe and the United States to do more together to defeat tyrannies, promote democracy and repair the damage from the global financial crisis.
• Greek debt talks to stretch into weekend
(AP)
</a>AP - "Crucial" issues remain to be resolved in Greece's critical negotiations over a second multibillion euro international bailout, and talks would continue into the weekend, the country's Finance Minister said early Saturday.
• Hackers attack Greek Justice Ministry website
(AP)
AP - Hackers have attacked the Greek Justice Ministry website to protest the government's signing of a global copyright treaty and its handling of the financial crisis.
• Def Sec'y Panetta: Pressure must be kept on Iran
(AP)
AP - U.S. Defense Secretary Leon Panetta said Friday the key to stopping Iran from getting a nuclear bomb is keeping global support for tough economic sanctions.
• Eurozone retail sales in surprise December fall
(AP)
AP - Retail sales in the 17 countries that use the euro unexpectedly fell during the crucial month of December, official figures showed Friday, raising fears of a looming recession in the single currency bloc.
• NATO mulls paying for Afghan forces after 2014
(AP)
AP - NATO's top official said Friday that the alliance expects regional powers to contribute to a multibillion dollar fund to finance the Afghan army and police after they assume full responsibility for the war in 2014.
• Euro zone sales tumble at Christmas, no sign of growth
(Reuters)
Reuters - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three years, data showed on Friday, with rising joblessness and stubborn inflation undercut signs of a stabilization in Europe's economy.
• Top security and defense officials meet in Munich
(AP)
AP - The world's top security and defense officials are gathering in Munich, with uncertainty over the future of the Middle East and the implications of the financial crisis in Europe looming large.
• Hungary's Malev airline ceases operations
(AP)
AP - Hungary's Malev airline says its has ceased operations and grounded all its flights to "minimize damage" after its financial situation became unsustainable.
• Dow Chemical posts 4Q loss on charge
(AP)
AP - The Dow Chemical Co. is feeling the impact of the slowing European economy, and seeing some weakness in North America as well.
• US stocks flat ahead of unemployment report
(AP)
<p>AP - Investors coasted on Thursday, leaving stocks unchanged while they looked ahead to Friday for a major jobs report. U.S. government bonds hardly moved, and neither did European stocks.
• Spain tells banks to cover toxic assets or merge
(AP)
AP - Spanish banks must raise an additional euro50 billion ($65.5 billion) to cover their exposure to toxic real estate loans and assets accumulated during a construction boom that went bust with the financial crisis, according to new regulations unveiled Thursday.
• Summary Box: Debt crisis threatens Portugal
(AP)
AP - DEBT DELUGE: Portugal's debt-crippled economy is choking amid grinding austerity measures, a steep recession, an acute shortage of cash and unemployment at a record 13.6 percent.
