Pages

Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Monday, June 25, 2012

New problem for Greece: Designated finance minister steps aside


The Guardian

New problem for Greece: Designated finance minister steps aside
Los Angeles Times
ATHENS -- Less than a week after Greece installed a rickety coalition government, capping months of political turmoil, fresh fears of uncertainty flared Monday when Vassilis Rapanos, the man expected to fill the crucial post of finance minister, ...
Greek finance minister quits days into jobSydney Morning Herald
Greek Finance Minister ResignsWall Street Journal
Greece Faces More Woes: Finance Minister ResignsNPR

all 2,113 news articles »

READ THE ORIGINAL POST AT latimesblogs.latimes.com

Greece's designated finance minister quits

GREECE'S designated finance minister has resigned after being rushed to the hospital last week.






READ THE ORIGINAL POST AT www.news.com.au

Debt crisis: as it happened June 25, 2012

Cyprus applies to Europe for a bail-out to protect its financial sector from exposure to Greece, as global markets tumble ahead of this week's EU summit.


READ THE ORIGINAL POST AT www.telegraph.co.uk

Cyprus becomes 5th eurozone state to seek bailout

NICOSIA, Cyprus (AP) — Cyprus on Monday became the fifth eurozone country to request financial aid from its partners in the troubled European currency union as it struggles to shore up its banks, which took heavy losses on Greek debt.

READ THE ORIGINAL POST AT hosted2.ap.org

Greek finance minister resigns in blow to govt


Globe and Mail

Greek finance minister resigns in blow to govt
Reuters
* Rapanos taken ill before being sworn in * PM Samaras leaves hospital after eye surgery * New Greek govt wants austerity eased, Germany opposed By Harry Papachristou and Karolina Tagaris ATHENS, June 25 (Reuters) - Greece's new finance minister ...
Greece faces more woes: Finance minister resignsUSA TODAY
Greek Finance Minister ResignsWall Street Journal
Greek Finance Minister Quits Days Into the Job on IllnessBusinessweek
New York Times
all 1,223 news articles »

READ THE ORIGINAL POST AT in.reuters.com

Greek finance minister nominee turns down post


Globe and Mail

Greek finance minister nominee turns down post
RTE.ie
The bank chairman set to take the key post of finance minister in Greece's new government turned down the job today.
Schaeuble: New Greek government should stop asking for more helpCapital.gr (press release)

all 251 news articles »

READ THE ORIGINAL POST AT www.rte.ie

Greece faces more woes: Finance minister resigns

FILE - This is a Thursday, June 21 2012 file photo of prominent banker Vassilis Rapanos as he looks on during his meeting with New Greek Prime Minister Antonis Samaras and the heads of the two minority coalition partners, Evangelos Venizelos from the Greek Socialist PASOK party and the smaller Democratic Left's Fotis Kouvelis, in Athens. The prime minister's office said Monday June 25, 2012 that Greece's designated finance minister, Vassilis Rapanos who was rushed to hospital on Friday, has resigned. (AP Photo/Kostas Tsironis, File)A leadership vacuum loomed for Greece as the designated finance minister resigned for health reasons Monday just three days after he was rushed to the hospital and before he even had time to be sworn in.



READ THE ORIGINAL POST AT news.yahoo.com

Greece faces more woes: Finance minister resigns

ATHENS, Greece (AP) — A leadership vacuum loomed for Greece as the designated finance minister resigned for health reasons Monday just three days after he was rushed to the hospital and before he even had time to be sworn in.

READ THE ORIGINAL POST AT hosted2.ap.org

Greece faces more woes: Finance minister resigns





ATHENS, Greece (AP) — A leadership vacuum loomed for Greece as the designated finance minister resigned for health reasons Monday just three days after he was rushed to the hospital and before he even had time to be sworn in.

The health problems of Greece's five-day-old government had already forced the country's international debt inspectors to postpone their Monday visit to Athens and prompted Germany to warn that a European Union summit later this week would be unlikely to produce any major decisions on Greece.

Rapanos, chairman of the National Bank of Greece, had been named finance minister last week in the country's new three-party coalition government but became ill before he could be sworn in Friday.

"The recent incident that led to my admission to a hospital shows that my health problem has not been fully overcome," Rapanos said in his letter of resignation, released by Samaras' office.

[...] before the summit, Greece's debt inspectors, known as the troika — representatives from the European Commission, the European Central Bank and the IMF — were to visit Athens and give their professional assessment of Greece's financial situation.

Samaras' government, comprised of his New Democracy conservatives, their long-time socialist rivals PASOK and the small Democratic Left party, has said it wants to revise its bailout conditions with creditors.

The latest figures released by the finance ministry Monday showed Greece's budget deficit for the first five months of 2012 was better than expected, coming in at €10.87 billion ($13.63 billion) instead of the target of €12.89 billion ($16.17 billion) on a modified cash basis.


READ THE ORIGINAL POST AT www.sfgate.com

Cyprus requests eurozone bailout


Financial Times

Cyprus requests eurozone bailout
Financial Times
Cyprus has become the fifth eurozone country to seek an international bailout amid mounting economic problems and fresh challenges for its banks after a credit-rating agency downgrade. Bowing to eurozone pressure, the cash-strapped government of ...
Cyprus joins bailout queue as EU summit doubts growReuters
Cyprus Requests EU Funds, Becoming 5th Euro Nation to Seek AidBloomberg
Cyprus becomes next eurozone state to seek bailoutFox News
The Guardian
all 470 news articles »

READ THE ORIGINAL POST AT www.ft.com

Designated Greek finance minister resigns

Vassilis Rapanos, Greece's finance minister-designate, resigned Monday after being hospitalized for several days even before he could be sworn in to what would likely be one of the more thankless jobs in international finance.Vassilis Rapanos, Greece's finance minister-designate, resigned Monday after being hospitalized for several days even before he could be sworn in to what would likely be one of the more thankless jobs in international finance.



READ THE ORIGINAL POST AT economywatch.msnbc.msn.com

Cyprus joins bailout queue as EU summit doubts grow

NICOSIA/MADRID (Reuters) - Cyprus said on Monday it would seek a European bailout to handle fallout from the Greek crisis, becoming the fifth euro zone country needing rescue funds hours after Spain formally requested help for its banks.



READ THE ORIGINAL POST AT www.reuters.com

Health problems sideline Greek finance minister ahead of EU summit


Globe and Mail

Health problems sideline Greek finance minister ahead of EU summit
Globe and Mail
Prime Minister Antonis Samaras will also miss Brussels meeting after undergoing eye surgery.


READ THE ORIGINAL POST AT www.theglobeandmail.com

Greek finance minister resigns for health reasons


CBS News


READ THE ORIGINAL POST AT money.cnn.com

Greek Finance Minister Resigns

Greek Finance Minister Vassilis Rapanos handed in a letter of resignation to Prime Minister Antonis Samaras, the prime minister's office said on Monday, and Mr. Samaras has accepted it.

READ THE ORIGINAL POST AT online.wsj.com

FTSE closes down as markets across Europe suffer

Italian and Spainsh markets down 4% and 3.7% with all eyes firmly on the continent for Thursday's EU meeting

Markets across Europe closed down today as fears that Thursday and Friday's EU summit will achieve the same outcomes as previous ones – very little.

Cyprus applied for an EU bailout, and the finance minister of Greece resigned due to ill health less than a week into the job.

Italian and Spanish bonds were both up 21bps and 28bps respectively, with Italy's 10 year hitting 6%.

Italy had a particularly tough day, as its FTSE MIB closed down 549 points, 4%, at 13114.

Markets in Spain was down 3.7%, France down 2.2% and Germany down 2.1%.

The FTSE 100 performed best (or the least worst), closing down 63 points, 1.1%, at 5451.

So, little interest seems to have been paid to the equities and stock picking has fallen in favour to watching the eurozone self-implode.

Biggest faller on the main index was pharmaceutical company Shire after its second best-selling drug will now get a generic competitor – shares closed down 223p, 11.3%, at £17.40.

Oil companies also suffered in the heat today, but not because a barrel of Brent crude finest is now worth $90.23, down 0.8% on the day.

Valiant Petroleum (down 23.8p, 6.2%, at 356.5p), Premier Oil (down 16.2p, 4.8%, at 326.8p) and Ithaca (down 14.5p, 13.2%, at 110p) all reported problems out in the, er, field.

Valiant found no gas in its latest drilling location and will abandon it.

Premier Oil's north sea oil drilling suffered a setback as its Coaster well turned out to be dry.

While Ithaca said only three of the four wells at its Athena field in the North Sea are flowing due to a blockage, stopping 5,000 barrels a day being released.

Bring on tomorrow.


guardian.co.uk © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds


READ THE ORIGINAL POST AT www.guardian.co.uk

Greek Finance Minister Hospitalized On Taking Job; Resigns

ATHENS, Greece - Greece's designated finance minister resigned Monday after being rushed to the hospital on Friday, the prime minister's office said.Vassilis Rapanos, chairman of...

READ THE ORIGINAL POST AT www.huffingtonpost.ca

Greek finance minister resigns, crisis deepens

Newly appointed Greek PM Samaras arrives for the first cabinet meeting of his government at the parliament in AthensATHENS (Reuters) - Greece's new finance minister resigned because of ill health on Monday, throwing the government's drive to soften the terms of an international bailout into confusion days before a European summit. Vassilis Rapanos, 64, chairman of the National Bank of Greece, was rushed to hospital on Friday, before he could be sworn in, complaining of abdominal pain, nausea and dizziness. Greek media said he had a history of ill-health. ...



READ THE ORIGINAL POST AT news.yahoo.com

EU says Iran oil embargo will be enforced July 1


AFP

EU says Iran oil embargo will be enforced July 1
AFP
LUXEMBOURG — The European Union confirmed Monday that a ban on oil imports from Iran will go ahead as planned on July 1 due to the lack of progress in talks on Tehran's contested nuclear drive. "The latest package of EU sanctions against Iran will ...
Wag the Dog? Odds of War With Iran Now at 36%The Atlantic
EU oil sanctions on Iran to take effect SundayFox News
EU affirms Iran oil ban, dismisses Greek concernsChicago Tribune

all 366 news articles »

READ THE ORIGINAL POST AT www.google.com