Greece averted the immediate threat of an uncontrolled default on Friday when a sufficient number of private creditors agreed on a bond swap deal that will cut the country's public debt and clear the

Stricken eurozone member Greece seems to have clinched a high-stakes debt swap as a deadline for bondholders to accept huge losses on their Greek holdings passed, opening the way for an urgent bailout

The eurozone bailout Greece is desperate to clinch this week may rescue its banking and financial system but the path to real economic recovery will be long and hard, economists have warned.

"If the

European leaders expressed optimism on Friday that Greece would secure a new rescue package worth 130 billion euros though policymakers admitted urgent work was still needed to get its debt-cutting pr

Greek Prime Minister Lucas Papademos has told lawmakers to back a deeply unpopular international financial rescue in a vote on Sunday or condemn the country to 'uncontrolled economic chaos and social

Greek coalition leaders failed to reach a deal on austerity cuts early Thursday but Prime Minister Lucas Papademos remained hopeful of an agreement before Eurozone finance ministers meet later in day.

After months of wrangling, soul searching and violent protests, Greece has finally passed its 2012 budget -- but now comes the hard part, living with it as the economy slumps and the eurozone struggle

For self-made businessman Dimitrios, the threats began with a phone call from a man who said they knew where his daughter was.

At first the 57-year-old window installer kept quiet about the calls. Wh

Greece's prime minister designate will name a new crisis cabinet on Friday to roll out painful austerity measures and calm the political turmoil that has threatened to bankrupt Athens and force it out

Embattled Greek Prime Minister George Papandreou on Saturday launched efforts to form a coalition government to run the country for the next four months, arguing the move is vital to demonstrating Gre