Earlier companies were going bankrupt, now countries are turning belly up.
The Greek debt crisis shows clearly that if the eurozone is to come out of this crisis relatively unscathed, it needs a full-time fiscal-monitoring and crisis-resolution mechanism.
Resolving the crisis will require a 'very long and step-by-step process' involving budget restructuring, restoring confidence in financial markets, improving competitiveness and other measures, she said on Tuesday after a meeting with Finland Prime Minister Jyrki Katainen in Berlin.
The crisis remains acute with the country's banks already closed.
A summit of the 17-nation euro group was proposed by European Council president Herman van Rompuy in Brussels to prevent larger euro zone economies such as Italy and Spain from being sucked into the crisis by demonstrating their determination to help keep Greece from defaulting on its debts.
The situation in Greece worsened with banks closed for a 2nd week.
Syriza lawmakers walked the corridors telling reporters the government might not survive the night.
Greece awoke with a political hangover on Thursday after parliament approved a stringent bailout programme, thanks to the votes of the pro-European opposition, amid the worst protest violence this year.
11th-hour debt restructuring programme offered no concessions to creditors
Obama spoke to Greek PM Alexis Tsipras in the capital, Athens, as part of a final tour that also takes in Germany and Peru.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
Stratfor analyses the predicament of the states caught between a changing euro zone and a resurgent Russia.
Investors will see that India story actually continues to be a good one, he said.
Without some firmer pledge of debt relief, neither Greece nor the IMF is likely to accept a deal
Greek proposals hailed as "a positive step forward".
Euro zone leaders clinched a deal with Greece on Monday.
Amid growing concerns that the debt crisis in Greece could spread to other heavily-indebted nations in the region, Germany and France have called for reinforcing economic policy coordination and better internal surveillance to prevent a recurrence of a similar crisis.
Will Greece manage to pay euro 1.5 billion to IMF?
Neither India nor China will be badly affected by Grexit.
Experts suggest domestic factors rather than the Greece crisis would determine the course of the Indian equities.
Deadline to submit convincing reform plans is this week.
Greece's financial crisis has intensified.
Pope Francis transformed the lives of a dozen Syrian refugees on Saturday when he plucked three families from a crowded camp on the Greek island of Lesbos and took them back to Rome.
Premji said, Wipro is not feeling the "effects" of the eurozone crisis.
Describing the prevailing global situation as "complex", Finance Minister Pranab Mukherjee today attributed the sharp fall in the stock markets to uncertainty over resolving the Eurozone problems in the wake of the Greek crisis.
Hundreds of migrants, who continue to arrive in Europe as they flee the scenes of chaos and brutality of the Islamic State in the Middle East, have created sharp divisions among European Union member states which are increasingly finding it tough to control the massive influx.
The World War I had been triggered by an assassination in then relatively unknown Serbia.
"As far as India is concerned, the impact on us will be minimal. In fact, in the short run -- that is, purely in the short run -- it might help us in terms of India being regarded as a relatively safer haven," Chawla told reporters on the sidelines of a Assocham function in New Delhi.
If Ahmedabad is India's preferred candidate, as seems likely, hosting Olympics 2036 should give it a leg up: A bigger airport, a better metro network, more hotels, flyovers and so on, observes T N Ninan.
In recent times, the multilateral lending agency extended financial aid to crisis-hit nations such as Greece and Romania.
Sweden missed out on the finals for the first time in 28 years on a night in which their fixture with Belgium was abandoned
The European economic crisis could be an opportunity for Indian corporate houses. Leading investment bankers say assets, globally, are available at attractive valuations and the rise in domestic stock prices has added more strength to balance sheets of Indian companies.
Most Asian markets ended with gains.
The domestic currency had gained seven paise on Friday.
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
Indian corporates might face higher borrowing cost in the overseas market in short-run due to the Greek debt crisis.
Recent weeks have seen the euro coming in for a pummeling, sending ripples across global markets.
Citizens of countries within the European Union can move and live in any of the countries within the group.
ICICI Bank on Monday said it sees no impact of the Greek debt crisis on the bank as it has no exposure to Europe.
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