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Defiant Greek leftist refuses to back austerity

Posted: 2 days, 18 hours ago | Source: Reuters | Category: World | Post Comment
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Newly appointed caretaker PM Pikrammenos shakes hands with Greece's President Papoulias during their meeting in AthensATHENS (Reuters) - Greece's surging leftist leader predicted on Thursday his party would sweep next month's election and refused to stop demanding an end to "barbaric" austerity policies he said were bankrupting the nation. Increasingly worried about Greece's future in the euro zone, foreign lenders and mainstream parties have stepped up warnings that the country risks being cut off from aid if it fails to stick to spending cuts included in its latest bailout package. SYRIZA leader Alexis Tsipras, the 37-year-old rising star of Greek politics, promised he would listen to neither group. ...


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Spanish bank hit by report of withdrawals

Posted: 2 days, 18 hours ago | Source: Associated Press | Category: World | Post Comment
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Brokers looks at the main display at the Stock Exchange in Madrid, Wednesday, May 16, 2012. Spain's Prime Minister warned that the country faced the real danger of being locked out of international markets as investors continued to fret about the future of the euro. At one stage, the difference between the interest rates demanded by investors for Spanish and German 10-year bonds shot past the 500 basis point level, prompting Mariano Rajoy's warning over the country's ability to continue funding itself. (AP Photo/Daniel Ochoa de Olza)A recently nationalized Spanish bank's shares plummeted Thursday after a newspaper said depositors were rushing to withdraw money, while the country paid sharply higher interest rates in a debt auction, reflecting concerns the country will be caught up in the fallout of the Greek crisis.


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Pakistani president to attend NATO summit

Posted: 2 days, 18 hours ago | Source: Associated Press | Category: World | Post Comment
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Oil tankers, which were used to transport NATO fuel supplies to Afghanistan, are parked at a compound in Karachi, Pakistan, Tuesday, May 15, 2012. NATO on Tuesday invited Pakistani President Asif Ali Zardari to the alliance's summit in Chicago, after signs that the country could be moving to reopen its Afghan border to NATO military supplies. (AP Photo/Shakil Adil)Pakistan's president announced Thursday that he will attend the upcoming NATO summit in Chicago, accepting an invitation that was given after the country indicated it plans to end its six-month blockade of supplies meant for coalition troops in Afghanistan.


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Syrian opposition faces more fractures, infighting

Posted: 2 days, 18 hours ago | Source: Associated Press | Category: World | Post Comment
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FILE - In this Monday, June 20, 2011 file photo released by the Syrian official news agency SANA, Syrian President Bashar Assad delivers a speech in Damascus, Syria, at Damascus University. In his first interview in six months, Syrian President Bashar Assad insists his regime is fighting back against foreign mercenaries and not innocent Syrians aspiring for democracy in a year-long uprising. (AP Photo/SANA, File) EDITORIAL USE ONLYThe head of Syria's main opposition council offered to resign Thursday after some members threatened to pull out of the umbrella group amid rampant infighting, striking a blow to efforts to present a united front against President Bashar Assad.


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Spain beset by bank crisis, recession, bond pressure

Posted: 2 days, 19 hours ago | Source: Reuters | Category: World | Post Comment
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Worker puts finishing touches to a stage under a graph at the Madrid stock exchangeMADRID (Reuters) - Spain's borrowing costs shot up at a bond auction on Thursday, after economic data confirmed the country is back in recession and reports of an outflow of deposits from nationalized Bankia hammered its share price. The Spanish Treasury had to pay around 5 percent to attract buyers of three- and four-year bonds. The longer-dated paper sold with a yield of 5.106 percent, way above the 3.374 percent the last time it was auctioned. "This ... ...


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Europe's banks on the brink

Posted: 2 days, 19 hours ago | Source: Reuters | Category: World | Post Comment
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Former European Central Bank President Trichet attends a session at the World Economic Forum (WEF) in DavosLONDON, May 17 (IFR) - The euro zone crisis was in full swing when Jean-Claude Trichet took the podium in Berlin last October 6 for his final press conference as president of the European Central Bank. Having helped create one of the longest periods of price stability in the history of central banking, Trichet was closing out his eight-year reign under siege. Soaring oil prices had made a mockery of the bank's superlative record on inflation, while the worst recession on the continent since World War II had morphed into a full-scale sovereign debt crisis. ...


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