Germany praised Ukraine’s new government for pursuing an “ambitious” path to overhaul its economy as the country seeks to expand a bailout that financier George Soros said may require as much as US$50 billion.
It's the end of the line for Greek Prime Minister George Papandreou.In a cabinet revolt led by his finance minister, Papandreou was ordered to "leave calmly in order to save his party". He obliged, having no real choice in the matter because otherwise he would have been ousted in a vote of confidence.He may survive the vote, but it will do him no good as part of the agreement.Please consider Greek PM ready to go, dump referendum, for euro deal
ATHENS — Greece will present measures to boost tax revenues and encourage investors as part of a reforms list aimed at reaching a deal with lenders early next week to unlock aid, the government said on Thursday.
After talks with EU leaders including German Chancellor Angela Merkel in the past week, Athens said it would present a package of reforms to its eurozone partners by Monday in the hope of avoiding bankruptcy.
Greek Prime Minister George Papandreou announced a broad cabinet reshuffle on Friday to counter widespread anger over tough new austerity measures essential to prevent Greece from a disastrous default.