Greece Budget

Greek lawmakers approved a "tough" 2016 budget early Sunday, forecasting near zero growth for 2015 and a small contraction next year for the debt-ridden country in its sixth year of austerity.

Greece and its creditors early Tuesday reached an agreement on fiscal targets for the debt-ridden nation, staying on course for a bailout deal to avert an August 20 default..

Greece's new bail-out deal imposes a stiff dose of budget rigour and market deregulation which critics say few leaders of Western Europe's biggest nations have dared serve their own voters.

Euro zone leaders welcomed new budget proposals from Athens on Monday as a basis for further negotiations to unlock billions of euros in frozen aid and avert a default that could trigger a Greek exit from the single currency area.

Risk-on sentiment in global markets also aided local shares after Greece's latest budget proposals raised hopes it would stave off a debt default and reach a deal with lenders later this week.

Greece repaid on Friday the first 310 million-euro instalment of a loan from the International Monetary Fund (IMF) that falls due this month, as it scrambles to cover its funding needs.

A general strike hit Greece on Wednesday, paralysing public services and disrupting transport as EU-IMF auditors worked to finalise the recession-hit country's next budget, looking to eliminate a fiscal shortfall that could bring more unpopular cuts.

Ahead of the Union Budget 2013, Dr. Prannoy Roy speaks to Nobel laureate Amartya Sen and Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, on the India growth story. Here is the full transcript of the interview:

European Union leaders reached agreement on the first ever cut in their common budget on Friday after 24 hours of talks, seeking to placate millions at home struggling through government cutbacks and recession.

Greece approved laws on Monday to enforce budget targets and ensure privatisation proceeds are used to pay off debt, seeking to appease foreign lenders before a critical meeting of euro zone finance ministers.

Greek lawmakers approved the country's 2013 austerity budget early Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt.

Greek lawmakers approved the country's 2013 austerity budget early on Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt.

The government unveiled a tough austerity budget after Finance Minister Yannis Stournaras met the so-called "troika" of International Monetary Fund, European Commission and European Central Bank inspectors, whose approval is vital to unlock the next slice of aid, urgently needed to avoid bankruptcy.

Finance ministry officials in Greece have calculated that the debt-stricken country's economy will recover faster and its debt be more sustainable if it is given two more years to reduce its budget deficit, a Greek newspaper reported on Saturday.

Greece has yet to nail down the requested austerity package.

Greek lawmakers approved a "tough" 2016 budget early Sunday, forecasting near zero growth for 2015 and a small contraction next year for the debt-ridden country in its sixth year of austerity.

Greece and its creditors early Tuesday reached an agreement on fiscal targets for the debt-ridden nation, staying on course for a bailout deal to avert an August 20 default..

Greece's new bail-out deal imposes a stiff dose of budget rigour and market deregulation which critics say few leaders of Western Europe's biggest nations have dared serve their own voters.

Euro zone leaders welcomed new budget proposals from Athens on Monday as a basis for further negotiations to unlock billions of euros in frozen aid and avert a default that could trigger a Greek exit from the single currency area.

Risk-on sentiment in global markets also aided local shares after Greece's latest budget proposals raised hopes it would stave off a debt default and reach a deal with lenders later this week.

Greece repaid on Friday the first 310 million-euro instalment of a loan from the International Monetary Fund (IMF) that falls due this month, as it scrambles to cover its funding needs.

A general strike hit Greece on Wednesday, paralysing public services and disrupting transport as EU-IMF auditors worked to finalise the recession-hit country's next budget, looking to eliminate a fiscal shortfall that could bring more unpopular cuts.

Ahead of the Union Budget 2013, Dr. Prannoy Roy speaks to Nobel laureate Amartya Sen and Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, on the India growth story. Here is the full transcript of the interview:

European Union leaders reached agreement on the first ever cut in their common budget on Friday after 24 hours of talks, seeking to placate millions at home struggling through government cutbacks and recession.

Greece approved laws on Monday to enforce budget targets and ensure privatisation proceeds are used to pay off debt, seeking to appease foreign lenders before a critical meeting of euro zone finance ministers.

Greek lawmakers approved the country's 2013 austerity budget early Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt.

Greek lawmakers approved the country's 2013 austerity budget early on Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt.

The government unveiled a tough austerity budget after Finance Minister Yannis Stournaras met the so-called "troika" of International Monetary Fund, European Commission and European Central Bank inspectors, whose approval is vital to unlock the next slice of aid, urgently needed to avoid bankruptcy.

Finance ministry officials in Greece have calculated that the debt-stricken country's economy will recover faster and its debt be more sustainable if it is given two more years to reduce its budget deficit, a Greek newspaper reported on Saturday.

Greece has yet to nail down the requested austerity package.