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Greece’s Debt Crisis Sends Stocks Falling Around Globe
Stocks slumped on Wall Street and fell sharply in Europe and Asia as Greece’s difficulties spread worries about possible broader harm to financial systems.
By David Jolly and Keith Bradsher

Global markets shuddered on Monday after Greece closed its banks amid fears that the country was headed toward default.

Stocks slumped on Wall Street, after markets in Europe were buffeted by worries that the Greek debt crisis would prove contagious and Chinese investors endured another topsy-turvy session.

By early afternoon in New York, the Dow Jones industrial average was down 1.3 percent, the Standard & Poor’s 500 was down 1.3 percent, and the Nasdaq average had fallen 1.5 percent.

The Euro Stoxx 50 index, comprising the eurozone’s big blue chip companies, closed 4.2 percent lower, after being down about 5 percent at the opening. The FTSE 100 index in London fell 2 percent.

In Greece, banks and markets will be closed for the week, after Prime Minister Alexis Tsipras interrupted last-ditch debt negotiations early Saturday with the announcement that he was calling a referendum for July 5 on whether to accept the tough terms offered by international creditors.

Greece's Debt Crisis Sends Stocks Falling Around Globe

In Greece, banks and markets are closed until July 6, after Prime Minister Alexis Tsipras interrupted last-ditch debt negotiations early Saturday with the announcement that he was calling a referendum…

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China says confident about outcome of Greece debt talks

China said on Friday that it was confident Greece’s talks with creditors to avoid defaulting on its debt would go positively, in comments made ahead of Premier Li Keqiang’s visit to Europe next week.
Having failed to clinch a deal with its international creditors a day earlier, Greece is gearing up for a last-ditch effort on Saturday to avert as default, with a repayment to the International Monetary Fund falling due nex…
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Greece: European stocks sag before crunch weekend for Greece

Greece: European stocks sag before crunch weekend for Greece

European stocks fell on Friday as investors sought to cut exposure to risk after Greece and its creditors again failed to resolve their differences, paving the way for a last-ditch effort on Saturday to avert a default. Currency and bond markets took a more cautious stance, driven by expectations that negotiators could still “pull a rabbit out of the hat”, as one strategist put it, before a…

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No deal for Greece, creditors; top-level talks resume Saturday

Business

No deal for Greece, creditors; top-level talks resume Saturday

Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to either avert a default next week or start preparing to protect the euro zone from financial market turmoil. Euro zone finance ministers ended their third meeting in a week without agreement after the three creditor institutions put a final cash-for-reform proposal on the table in a showdown with Athens’s leftist government. German Chancellor Angela Merkel, whose country is Greece’s biggest creditor, said Greek positions on some issues seemed even to have gone into reverse.

“The door is still open for the Greek side to come with new proposals or accept what is on the table,” Eurogroup chairman Jeroen Dijsselbloem told reporters before briefing European Union leaders, meeting at a summit next door, on the impasse. Greece thrust its way onto the agenda of a 28-nation EU summit that had been due to focus on migration, the long-term future of the euro zone and launching a renegotiation of Britain’s membership terms.

The lenders’ demand to bring annihilating measures back to the table shows that the blackmail against Greece is reaching a climax.

Prime Minister Alexis Tsipras

3Novices:GLOBAL MARKETS-European stocks sag before crunch weekend for Greece

3Novices:GLOBAL MARKETS-European stocks sag before crunch weekend for Greece

European stocks fell on Friday as investors sought to cut exposure to risk after Greece and its creditors again failed to resolve their differences, paving the way for a last-ditch effort on Saturday to avert a default. U.S. stocks were set to open tentatively higher after the underperformance in Europe and an earlier slump across Asian bourses.

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No deal for Greece, creditors; top-level talks resume Saturday

No deal for Greece, creditors; top-level talks resume Saturday

No deal for Greece, creditors; top-level talks resume Saturday

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Forex News –  Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to avert a default next week or start preparing to protect the euro zone from financial market turmoil. Euro zone finance ministers ended their third meeting in a…

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No deal for Greece, creditors; top-level talks resume Saturday

Business

No deal for Greece, creditors; top-level talks resume Saturday

Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to either avert a default next week or start preparing to protect the euro zone from financial market turmoil. Euro zone finance ministers ended their third meeting in a week without agreement after the three creditor institutions put a final cash-for-reform proposal on the table in a showdown with Athens’s leftist government. German Chancellor Angela Merkel, whose country is Greece’s biggest creditor, said Greek positions on some issues seemed even to have gone into reverse.

“The door is still open for the Greek side to come with new proposals or accept what is on the table,” Eurogroup chairman Jeroen Dijsselbloem told reporters before briefing European Union leaders, meeting at a summit next door, on the impasse. Greece thrust its way onto the agenda of a 28-nation EU summit that had been due to focus on migration, the long-term future of the euro zone and launching a renegotiation of Britain’s membership terms.

The lenders’ demand to bring annihilating measures back to the table shows that the blackmail against Greece is reaching a climax.

Prime Minister Alexis Tsipras

China says confident about outcome of Greece debt talks

BEIJING (Reuters) - China said on Friday that it was confident Greece’s talks with creditors to avoid defaulting on its debt would go positively, in comments made ahead of Premier Li Keqiang’s visit to Europe next week.
Having failed to clinch a deal with its international creditors a day earlier, Greece is gearing up for a last-ditch effort on Saturday to avert as default, with a repayment to the International Monetary Fund falling due next week..
“We have full confidence in how that will progress,” Vice Foreign Minister Wang Chao said at a news conference. “China would like to see Greece remain in the euro zone and appreciates the relevant parties’ efforts in this regard.
"We believe that the euro zone can, via the efforts of all parties, appropriately deal with the situation.”
Li leaves for Europe next week on a trip that will include a China-EU summit in Brussels and a visit to France.
China sees Greece’s strategic location as a portal into both Europe and Africa for the distribution of Chinese products but has so far shown little interest in getting involved in financial help for Greece this year.
On Tuesday, China’s Foreign Ministry declined to comment when asked whether Beijing would offer Greece emergency loans or buy assets in the event of a default. Last year, China signalled that it would buy bonds when Greece issues debt again.
In February, Li urged Greek Prime Minister Alexis Tsipras to ensure protection of the rights of China’s companies and backing for a port project.
China’s Cosco [COSCO.UL] manages two of the Piraeus port’s cargo piers. Under a privatisation scheme last year, it had been shortlisted, along with four other suitors, as a potential buyer of a stake of 67 percent in the port.

(Reporting by Ben Blanchard; Editing by Simon Cameron-Moore)

No deal for Greece, creditors; top-level talks resume Saturday

Business

No deal for Greece, creditors; top-level talks resume Saturday

Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to either avert a default next week or start preparing to protect the euro zone from financial market turmoil. Euro zone finance ministers ended their third meeting in a week without agreement after the three creditor institutions put a final cash-for-reform proposal on the table in a showdown with Athens’s leftist government. German Chancellor Angela Merkel, whose country is Greece’s biggest creditor, said Greek positions on some issues seemed even to have gone into reverse.

“The door is still open for the Greek side to come with new proposals or accept what is on the table,” Eurogroup chairman Jeroen Dijsselbloem told reporters before briefing European Union leaders, meeting at a summit next door, on the impasse. Greece thrust its way onto the agenda of a 28-nation EU summit that had been due to focus on migration, the long-term future of the euro zone and launching a renegotiation of Britain’s membership terms.

The lenders’ demand to bring annihilating measures back to the table shows that the blackmail against Greece is reaching a climax.

Prime Minister Alexis Tsipras

China says confident about outcome of Greece debt talks

BEIJING (Reuters) - China said on Friday that it was confident Greece’s talks with creditors to avoid defaulting on its debt would go positively, in comments made ahead of Premier Li Keqiang’s visit to Europe next week.

Having failed to clinch a deal with its international creditors a day earlier, Greece is gearing up for a last-ditch effort on Saturday to avert as default, with a repayment to the International Monetary Fund falling due next week..

“We have full confidence in how that will progress,” Vice Foreign Minister Wang Chao said at a news conference. “China would like to see Greece remain in the euro zone and appreciates the relevant parties’ efforts in this regard.

"We believe that the euro zone can, via the efforts of all parties, appropriately deal with the situation.”

Li leaves for Europe next week on a trip that will include a China-EU summit in Brussels and a visit to France.

China sees Greece’s strategic location as a portal into both Europe and Africa for the distribution of Chinese products but has so far shown little interest in getting involved in financial help for Greece this year.

On Tuesday, China’s Foreign Ministry declined to comment when asked whether Beijing would offer Greece emergency loans or buy assets in the event of a default. Last year, China signalled that it would buy bonds when Greece issues debt again.

In February, Li urged Greek Prime Minister Alexis Tsipras to ensure protection of the rights of China’s companies and backing for a port project.

China’s Cosco [COSCO.UL] manages two of the Piraeus port’s cargo piers. Under a privatisation scheme last year, it had been shortlisted, along with four other suitors, as a potential buyer of a stake of 67 percent in the port.

(Reporting by Ben Blanchard; Editing by Simon Cameron-Moore)

Slovak finance minister says Greece talks over weekend will be final

Slovak Finance Minister Peter Kazimir said on Friday talks with Greece this weekend to clinch a deal to avert default next week would likely drag on to Sunday, and would be the last on the issue. After failing to reach agreement with international creditors on Thursday, Greece is facing a last-ditch effort on Saturday, when Eurogroup ministers meet, to nail down a cash-for-reform deal.

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No deal for Greece, creditors; top-level talks resume Saturday

No deal for Greece, creditors; top-level talks resume Saturday

BRUSSELS Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to avert a default next week or start preparing to protect the euro zone from financial market turmoil. Euro zone finance ministers ended their third meeting in a week without agreement after the three creditor institutions put a final cash-for-reform proposal on…

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