News Cycles: Business - European Economy

Greek parties face EU bailout deadline (Reuters)

Reuters - Greece's coalition parties must tell the European Union on Monday whether they accept the painful terms of a new bailout deal to avoid a messy default that could threaten the country's future in the euro zone.

Greek crisis talks for debt deal pushed to Monday (AP)

AP - Crisis talks on a debt deal for Greece among the three leaders of parties supporting the coalition government were suspended and will continue Monday.

Euro, shares lower ahead of Greek high noon (Reuters)

Reuters - The euro and European shares retreated on Monday on nerves Greek would fail to come up with the political commitments needed to avoid a potential sovereign debt default, taking the shine off a U.S. jobs report that had brightened the global economic outlook.

Pro-EU Niinisto wins Finnish presidency (Reuters)

Reuters - Pro-Europe politician Sauli Niinisto won Finland's presidency on Sunday in an election that showed voters want to keep the country in the euro zone despite misgivings over European Union bailouts.
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Conservative wins Finland presidential vote (AP)

AP - A former finance minister won Finland's presidential election Sunday and will become the country's first conservative head of state in five decades.

Euro zone insists no Greek rescue without reforms (Reuters)

Reuters - Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from the euro zone and the IMF.
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Wen says China has stake in helping Europe (Reuters)

Reuters - China has a stake in helping euro zone countries get through their debt crisis, Chinese Premier Wen Jiabao said in comments published on Sunday, pointing to Europe's importance as a market and hinting at more possible support for beleaguered exporters.
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Euro zone loses patience with Greece (Reuters)

Reuters - Euro zone finance ministers told Greece on Saturday it could not go ahead with an agreed deal to restructure privately-held debt until it guaranteed it would implement reforms needed to secure a second financing package from the euro zone and the IMF.
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Clinton: US, Europe must do more against tyrants (AP)

AP - The Obama administration on Saturday called for stepped up U.S.-European cooperation to isolate tyrannies like the Assad regime in Syria, promote democracy in the Arab World and beyond and repair damage from the global financial crisis.

(AP)

AP - Greek finance minister: Debt talks held up by labor reforms.
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Report: Monti says Italy a "safe place" (AP)

AP - Italy is now a "safe place" amid market turbulence, Premier Mario Monti said in an interview published Saturday, pressing for Europe to turn its political energy to generating growth rather than further plans to strengthen budget discipline.

Clinton: US, Europe must work to defeat tyrants (AP)

AP - U.S. Secretary of State Hillary Rodham Clinton is calling on Europe and the United States to do more together to defeat tyrannies, promote democracy and repair the damage from the global financial crisis.

Hackers attack Greek Justice Ministry website (AP)

AP - Hackers have attacked the Greek Justice Ministry website to protest the government's signing of a global copyright treaty and its handling of the financial crisis.
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Def Sec'y Panetta: Pressure must be kept on Iran (AP)

AP - U.S. Defense Secretary Leon Panetta said Friday the key to stopping Iran from getting a nuclear bomb is keeping global support for tough economic sanctions.

Eurozone retail sales in surprise December fall (AP)

AP - Retail sales in the 17 countries that use the euro unexpectedly fell during the crucial month of December, official figures showed Friday, raising fears of a looming recession in the single currency bloc.
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NATO mulls paying for Afghan forces after 2014 (AP)

AP - NATO's top official said Friday that the alliance expects regional powers to contribute to a multibillion dollar fund to finance the Afghan army and police after they assume full responsibility for the war in 2014.

Euro zone sales tumble at Christmas, no sign of growth (Reuters)

Reuters - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three years, data showed on Friday, with rising joblessness and stubborn inflation undercut signs of a stabilization in Europe's economy.
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Top security and defense officials meet in Munich (AP)

AP - The world's top security and defense officials are gathering in Munich, with uncertainty over the future of the Middle East and the implications of the financial crisis in Europe looming large.
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Hungary's Malev airline ceases operations (AP)

AP - Hungary's Malev airline says its has ceased operations and grounded all its flights to "minimize damage" after its financial situation became unsustainable.
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Dow Chemical posts 4Q loss on charge (AP)

AP - The Dow Chemical Co. is feeling the impact of the slowing European economy, and seeing some weakness in North America as well.