Greece is to hold an early general election on May 6.

Anti-austerity activists are planning new protests in Athens’ main square, where a pensioner shot himself dead leaving a suicide note that blasted politicians over the country’s financial crisis.

Greece’s Parliament is set to approve the debt-crippled country’s new international bailout deal as Communist party supporters prepare to protest against the austerity being imposed.

A massive debt relief deal for Greece constitutes a so-called credit event, meaning it will trigger payouts on bond insurance, the agency that oversees financial derivatives said.

Greece is braced for further protests as politicians scramble to adopt a batch of emergency laws that will further cut incomes and government spending.

The two largest trade unions in Greece have called for protests today in response to the terms of the country's second bailout deal.

The news their country is likely to avoid defaulting on its debts next month and the euro should remain their currency has been greeted uneasily by Greeks.

Eurozone governments finally came to the rescue of Greece today, approving a second massive bailout after months of wrangling and a last round of more than 12 hours of talks in Brussels.

An EU official says some euro countries are pushing for Greece to funnel government revenue into a separately managed account dedicated to servicing its debts — an unprecedented intrusion into a sovereign country’s fiscal affairs.

Greece edged closer yesterday to winning a new rescue package worth €130 billion as officials said Germany was optimistic a deal could be struck despite misgivings over whether Athens would stick to commitments.

Armed robbers have seized dozens of items on display at the museum in Ancient Olympia, the birthplace of the Olympics in southern Greece, after tying up an employee.

Greece is a step closer to getting a new €130bn bailout after its cabinet signed off on a fresh dose of austerity measures last night.

The future of Greece in the euro looked more problematic last night as six ministers resigned ahead of a crucial vote on the latest austerity package.

Greece’s future in the euro grew increasingly precarious tonight as violence erupted on the streets of Athens and dissent grew among its lawmakers after European leaders demanded deeper spending cuts.

A high-ranking Greek official has resigned in protest over a proposed bailout deal for the country.

Unions in Greece have launched a two-day general strike against planned austerity measures, a day after the country's crucial international bailout was put in limbo by its eurozone partners.

European ministers have demanded that Greece pledge more job and spending cuts within a week in exchange for a €130bn bailout to stave off bankruptcy.

The European Central Bank held interest rates at a record low yesterday, seeing tentative signs of economic stabilisation, but refused to say what part it might play in averting aruinous Greek default.

Greek Prime Minister Lucas Papademos and his coalition partners have struck a deal on new cuts demanded by creditors to secure a vital €130bn bailout.

A crucial meeting between Greece’s prime minister and debt inspectors on averting the country’s bankruptcy has just ended with no definite results.

After three days of delays Greek coalition leaders have begun crucial talks with the prime minister on steep cuts demanded in return for a vital financial bailout.

Greek coalition leaders are studying a draft deal on further cuts demanded to secure a new bailout that will allow the country to avoid bankruptcy next month.

Greek Prime Minister Lucas Papademos will meet coalition party leaders today to approve the terms of a new international bailout.

Greek prime minister Lucas Papademos was yesterday shuttling over and back between the troika, the creditor banks and political party leaders desperately trying to conclude a deal on new austerity measures.

With the eyes of an impatient Europe on them, Greece’s feuding leaders are united by a desire to avoid blame for the harsh austerity required to save their country from a catastrophic default.

Under intense pressure from bailout creditors, Greek party leaders were seeking a long-delayed agreement on harsh cutbacks demanded to avoid looming bankruptcy, as a general strike disrupted public services nationwide today.

The Finance Minister Michael Noonan has said he is on stand-by to travel to Brussels to sign off on negotiations on Greece.

Tensions increased across the eurozone and globally as negotiations on Greek debt and cutbacks reached a critical point, amid fears that the country could default.

Crisis talks on a debt deal for Greece will continue today after a five-hour meeting between the prime minister and coalition government party leaders failed to reach agreement.

Crisis talks in Greece for huge new debt deals will continue tomorrow, leaders of parties supporting the country’s coalition government have said .

Debt talks vital to avoiding bankruptcy are at “a satisfactory level of agreement” but are being held up by a disagreement over drastic workplace reforms, A senior Greek official said today.

The European Central Bank must take part in Greece’s debt swap, finance minister Evangelos Venizelos said yesterday, warning that a rescue package for Athens also hinges on other issues being resolved such as labour reforms and how Greek banks are to be recapitalised.

Investors participating in a deal to slash Greece's massive debt would face an overall loss on their bond holdings of more than 70%, it emerged toda

Greek Prime Minister Lucas Papademos says he has the backing of leaders from the three political parties supporting his interim government, as international creditors increase the pressure on Greece to make deeper spending cuts to secure new funding.

Germany is proposing that Greece should temporarily cede sovereignty over tax and spending decisions to a powerful eurozone budget commissioner before it can secure further bailouts, an official in Berlin said today.

Greece’s prime minister resumed talks tonight with top bank negotiators to try to overcome obstacles to a major debt-relief deal needed to avoid bankruptcy.

Greece’s government has said that negotiations with private creditors aimed at lightening Greece’s debt load have been suspended unexpectedly and that the creditors’ representative has left Greece.

GREECE was closing in on an initial deal with private bond holders last night that would prevent it from tumbling into a chaotic default but lose investors up to 70% of the loans they have given to Athens.

GREECE sent senior officials to Washington yesterday for meetings with the International Monetary Fund as it raced against the clock to break a deadlock in debt swap talks that has raised fears of an unruly default.

Crucial negotiations between the Greek government and its private creditors on a bond swap deal needed to avoid default appeared close to collapse today.

The leaders of Germany and France are holding their first meeting of the year as the eurozone continues attempts to hammer out a treaty enshrining tougher budget rules.

The leaders of Germany and France are holding their first meeting of the year as the eurozone continues attempts to hammer out a treaty enshrining tougher budget rules.

ARE the world’s financial institutions to be or not to be?

Greece’s prime minister is due to hold talks with labour unions and trade federations ahead of a crucial visit by the country’s debt inspectors while Athens negotiates the terms of a second multimillion-euro international bailout.