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Oil above $97 ahead of Opec meet, Greek pollsBrent crude oil gained on Wednesday, with investors awaiting the outcome of the meeting this week of the producer group Opec, while gains were capped by worries about Europe's debt crisis and prospects for oil demand. Iran's oil exports ha More… |
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Top insurer stops cover for exports to GreeceThe world's biggest trade credit insurer, Euler Hermes, has stopped covering exporters shipping to Greece because of the mounting risk of them not getting paid in the event the debt-laden nation is forced out of the euro. "Euler Hermes has More… |
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Euro sinks to 21-month low as Greek exit fears riseThe euro plunged to a 21-month low against the dollar on Wednesday as investors dumped the currency on growing fears of a Greek euro zone exit and widespread doubts about the outcome of an EU summit later in the day. The euro fell to $1.26 More… |
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Greek exit will expose euro zone to huge lossesA Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling bill. A Greek departure would ta More… |
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Greek turmoil sends euro and shares lowerFears of a Greek exit from the euro zone worsening the debt crisis facing other European nations gripped financial markets on Wednesday, sending shares and other riskier assets lower as investors shifted funds into safe havens like the US dollar. More… |
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Euro tumbles as Greek vote threatens austerityThe euro fell heavily across the board on Monday after Greek and French elections cast doubt on politicians' commitment to austerity plans aimed at tackling the euro zone debt crisis. Traders said losses, which saw the common currency More… |
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Gold edges up after Greek deal gives boostGold rose for a second day on Tuesday, taking its cue from a brief rally in the euro after euro zone finance ministers struck a deal with Greece on its emergency funding, while silver shrugged off data that showed a steep drop in Chinese imports. More… |
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Gold holds firm as Greek hopes lift euroGold prices held below $1,735 an ounce in Europe on Thursday, underpinned by gains in the euro as Greece edged closer to a bailout deal, although stock market fluctuations after a raft of disappointing corporate results kept a lid on gains. More… |
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Greek leaders fail to strike reforms dealGreek leaders failed on Thursday to agree on reforms and austerity measures needed to secure a bailout to avoid a messy default, forcing Finance Minister Evangelos Venizelos to go to the country's financial backers with an incomplete deal. More… |
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Time running out for Greek debt accordGreece'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 remained to clinch a deal to avoid a messy default. A t More… |
