Greece caught in trap of rising national debt

ATHENS: Greek debt has turned into a modern version of a nightmare from mythology in which the more the country cuts and taxes to climb the mountain, the deeper down it falls.

Deputy PM Clegg warns UK risks sliding to EU exit

(Reuters) - Britain faces a crisis that could end with the world's sixth largest economy leaving the European Union, Deputy Prime Minister Nick Clegg warned ahead of a showdown over budget spending with other states in the 27-member bloc.

Greece recession and debt problems even worse

Greece's draft budget for 2013 has forecast a deeper recession and worse debt problems than previously thought.

IMF chief Christine Lagarde urges further debt reduction from leading economies

BERLIN: The head of the International Monetary Fund says the world's leading economies must continue to cut government spending despite an overall situation of only "tepid growth."

Greece says EU and IMF lenders refuse to concede on reforms

ATHENS: Greece's foreign lenders have refused to make any further concessions on changes to labour laws contested by a junior coalition partner, the country's finance minister said on Sunday, prolonging an impasse on a crucial austerity package.