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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Greece and Cyprus bailout funds due

Category : Business, World News

Eurozone finance ministers are due to meet in Brussels later to agree bailout payments for Cyprus and Greece, amid worries over Slovenia.

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Eurozone crisis live: Finance ministers gather as tensions rise in Spain

Category : Business

Eurogroup will decide today whether to approve aid tranches for Greece and Cyprus

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Greece: Three years after the bailout

Category : Stocks

In May 2010, Greece turned to the EU and IMF for help. But the nation has paid a heavy price in lost output and soaring unemployment.

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Greece making ‘progress’ on economy

Category : Business

Debt-laden Greece makes progress to improve its finances, but must do more to fight the “notorious” tax evasion, the International Monetary Fund says.

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Greece sells gambling monopoly stake

Category : Business

Greek-Czech investment fund Emma Delta snaps up 33% of Greek gambling monopoly Opap in Greece’s first big privatisation.

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Greeks stage anti-austerity strike

Category : Business

A general strike against tough austerity measures is under way in Greece, with trade unions calling for “mass mobilisation” of protesters.

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May Day protests and Greek strikes – Eurozone crisis live

Category : Business

With unemployment at record highs and the eurozone in recession, Europe’s annual May Day holiday will be marked with a strike in Greece, and rallies in major cities

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Eurozone crisis live: Growth fears hit shares and oil price

Category : Business

Brent crude fell below the $100 a barrel mark overnight as concerns grow over the global economy

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Greece ‘to return to growth in 2014′

Category : Business

The European Commission and other international creditors to Greece say the country’s economy will start growing again next year.

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Greek PM intervenes in ‘difficult’ talks with creditors

Category : Business

Finance minister reportedly lashed out at mission chiefs from EU, ECB and IMF as pressure builds over next repayments

Almost three years after Greece narrowly avoided bankruptcy with its first bailout from the EU and IMF, the country’s relations with its international creditors have taken an unexpected turn for the worst.

The Greek prime minister Antonis Samaras was forced to step in on Sunday after stalled negotiations became bogged down in acrimony when visiting inspectors resumed talks last week.

Indicative of the tensions, Athens’s normally mild-mannered finance minister, Yiannis Stournaras, reportedly lashed out at mission chiefs from the EU, ECB and IMF during a heated exchange in his office on Thursday, telling them they could “take the keys” to the economy ministry if they continued to demand more austerity from a nation experiencing a sixth straight year of recession.

Emerging from the building, the economics professor uncharacteristically labelled the talks as “very difficult” and gave a taste of his own frustration. “The negotiations for the next loan tranches are still very difficult. I can assure you that things are not simple at all,” he said.

After troika representatives abruptly cancelled a meeting with Stournaras late on Saturday, Samaras tried to smooth over the cracks. At stake are two slices of aid worth €8.8bn (£7.5bn) that have been put on hold because of the slow pace of structural reforms.

The first instalment, of €2.8bn, is contingent on the governing coalition agreeing to sack 25,000 civil servants by the end of the year and 150,000 by 2015. The demand has placed what is being called “intolerable pressure” on Samaras’s already fragile administration, with his two junior leftwing partners openly opposing the measure at a time when unemployment is nearing a record 30%.

Highlighting the discord, the administrative reform minister, Antonis Manitakis, in charge of streamlining the bloated public sector and aligned with the small Democratic Left party, threatened to resign – a move that would dramatically undermine the government’s unity.

Other sticking points, according to well-placed sources, include the recapitalisation of Greek banks – and a possible merger between the National Bank of Greece and Eurobank – and a highly contentious property tax levied through electricity bills the conservative-led coalition pledged to scrap when it assumed power last June.

Household incomes have fallen by as much as 50% since the debt crisis erupted in Athens more than three years ago. In an attempt to placate lenders and keep a restive population at bay, Samaras and his coalition partners proposed last week that the property levy be substantially reduced by broadening the tax base to include farmland and undeveloped real estate. Creditors, so far, have failed to react.

Greece faces two debt repayments, including €3.6bn in maturing treasury bills, this month and next. “Not reaching an agreement is not an option,” said Pandelis Kapsis, a prominent political commentator and former government spokesman. “There may be a delay [in disbursement of rescue funds] but there is absolutely no way we can move ahead without an agreement,” he told the Guardian.

Greece is likely to suffer from the turmoil in Cyprus, whose economy is expected to contract sharply following its own bailout agreement. But last week Samaras spoke for the first time of an economic recovery amid signs that fiscal consolidation was finally beginning to pay off.

“Even those who until recently had their doubts are today convinced that we can make it,” he told an audience in Athens, insisting that with private sector hirings outpacing firings in March the country was at long last breaking the vicious cycle of recession.

The investment bank Morgan Stanley also predicted that Greece would achieve a primary surplus by the end of the year, saying it was now optimistic about the country.