The European Union and International Monetary Fund are asking Greece to push through more budget cuts and implement a series of long-agreed austerity measures before they will release a 130-billion euro bailout package the struggling country needs if it is to avoid a disorderly default...
Greece hopes to effect a voluntary debt restructuring deal by the end of January, before the country heads into elections to replace its interim government...
German Chancellor Angela Merkel and French President Nicolas Sarkozy have both pledged to have a plan in place within a month to recapitalize European banks, replacing a 12-week-old rescue plan that has yet to be implemented...