EUROPEAN Central Bank Governing Council member Christian Noyer ruled out a restructuring of Greece’s debt, calling it a “horror story” that would leave the nation shut out of financing for years.

Greek Prime Minister George Papandreou has criticised a report that the country is ready to quit the eurozone, saying the country's government should be left alone to do its job.

GREECE hopes to get more time to repay bailout loans, its finance minister said yesterday, a day before EU and IMF inspectors start a visit to assess if new austerity plans are tough enough to tidy up its public finances.

Greece’s cash-strapped government promised today to raise an additional €11.8bn by 2013 with a crackdown on tax evasion.

BRIAN LENIHAN was yesterday named the worst finance minister in Europe in an annual ranking by an influential financial paper.

Brian Lenihan was today named the worst finance minister in Europe in an annual ranking by a leading financial newspaper.

Political Correspondent Conor Ryan selects some of the best quotes in a week of political strife

Greek finance minister George Papaconstantinou said there would be no need for a new emergency bail-out loan when the current one expires in 2013.

Greece’s state sector shut down today as civil servants walked off the job in a 24-hour strike, demanding the government take back stringent austerity measures designed to pull the country out of a debt crisis.

The Greek government proposed more austerity in the draft budget for 2011 that it submitted today as it tries to trim the deficit further to meet the conditions of an international bailout.

Greece’s Socialist government retained its finance minister in a cabinet reshuffle announced early today but changed other key officials involved in the effort to reform the country’s troubled economy.

Greece’s borrowing costs fell sharply today and stocks rallied after the European Union unveiled a trillion-dollar plan to contain the continent’s spreading debt crisis and boost the euro.

TENS of thousands of protesters marched through the Greek capital after parliament approved drastic austerity cuts needed to secure international rescue loans worth €110 billion.

The crucial Greek austerity bill was passed by parliament tonight.

Greece can only avoid bankruptcy by taking the joint EU-IMF rescue package, its government insisted today as it tried to push the measure through parliament.

European governments and the International Monetary Fund agreed to pull Greece back from the brink of default with €110bn in emergency loans, provided Athens made painful budget cuts and tax increases.

EUROZONE ministers have agreed an unprecedented €110 billion joint IMF bailout of Greece with Ireland ready to contribute €1.3bn over three years.

Tens of thousands of protesters gathered in central Athens and other Greek cities today for May Day rallies fuelled by anger at expected harsh austerity measures needed to secure rescue loans for near-bankrupt Greece.

US stocks tumbled yesterday and the dollar and Treasuries rose as credit-rating downgrades of Greece and Portugal fuelled concern that debt-laden nations are moving closer to default.

AGREEMENT on the conditions for the €45 billion loan to Greece was just a matter of days away, the European Commission said as several countries turned against Germany and its hard line on the Mediterranean country.

Financial leaders at a weekend conference focused on the deepening Greek debt crisis and pledged to address risks posed to the global economic recovery by countries with severe budget deficits.

THE desperate plea for international monetary aid by Greek Prime Minister George Papandreou would only come if the stability of the euro was threatened and Greece implemented tough new policies, German Chancellor Angela Merkel warned yesterday.

THE details of a eurozone/IMF loan for Greece will be worked out next week when the European Commission sends a delegation to Athens at the request of the government.

Struggling Greece was handed a financial lifeline by fellow eurozone governments today.

WORK will continue this week on the details of an emergency loan package for Greece from eurozone countries – but all, including Ireland, will be working to ensure that they never have to pay out money.

Greek Prime Minster George Papandreou headed to Paris today, the third stop of a four-city tour seeking firmer European Union and US support for harsh austerity measures that have sparked violent protests at home.

Crisis-hit Greece has two days to explain its use of complex financial deals to mask debt and just a month to prove that its drastic budget cuts go far enough to reassure markets and EU governments.

GREECE came under huge pressure from other eurozone countries in Brussels last night to make further and immediate cuts in government spending.

Greece’s finance minister said a detailed rescue plan from other eurozone nations would be the best way to soothe market fears that Greece could default on debt payments.

A strike by civil servants today grounded all flights and shut down public services across Greece, as labour unions mounted their first major challenge to austerity measures in the debt-plagued country.

Greece is not seeking aid to pull its debt-ridden economy out of its worst fiscal crisis in decades, its finance minister insisted today.

THEY’RE cheap; they’re pretty; they’re conversation-starters; they’re useful.