European financial system hinging on Greece

The fate of Europe's financial system - and possibly the world's - hinges on Greece and its acceptance of a bailout plan, reports Mark Phillips.

• Jun 1, 2012
• 2:12

An Imperfect Union: Europe's debt crisis

Ten European countries are in recession and three have needed bailouts to avoid default. How could this impact the U.S. economy? Steve Kroft reports.

• Apr 8, 2012
• 13:59

Stabbing of police officers a "terrorist attack"

Belgian prosecutors say 2 officers stabbed by "suspect Hicham D" in Brussels neighborhood known for producing jihadis

• Oct 5, 2016

New details on planning behind Paris attacks

Phone records leaked to French newspaper show Cherif Kouachi was in contact with hostage taker right before newspaper massacre

• Feb 18, 2015

S&P raises Spain credit rating as economy improves

Standard & Poor's also raised the country's average economic growth prediction for 2014-2016 to 1.6 percent

• May 23, 2014

Recovery gains no steam in Europe as France lags

Disappointing growth is likely to fuel expectations that the European Central Bank will take additional stimulus measures next month

• May 15, 2014

EU hopeful eurozone will start growing in 2013

But the European Union expects the recession to last longer than it previously thought

• Feb 22, 2013

Eurozone recession deepens as Germany falters

But many economists are predicting that the eurozone recession may end in the first half of the year

• Feb 14, 2013

Ireland secures deal with ECB to slash bailout costs

Deal is expected to reduce Irish debt by $27 billion and help country's expected exit from its own international bailout

• Feb 7, 2013

ECB chief assessing impact of strong euro

Currency has risen from around the $1.20 mark to trade over $1.35 even though many of EU's countries have sunk into recession

• Feb 7, 2013

Ireland set to liquidate "bad bank," reduce bailout costs

Finance Minister placed lawmakers on standby to pass an emergency bill authorizing the overnight liquidation of a government-owned "bad bank"

• Feb 6, 2013

Greece says in 2012 it met deficit-cutting targets

Government said that, not counting cost of servicing Greek debt, country posted budget surplus of $588 million

• Feb 4, 2013

Cyprus jobless turn to songbird trapping

It's illegal but the unemployed say catching the prized delicacy is the only way to make ends meet

• Jan 31, 2013

Spain's recession deeper than thought

Official figures showed the country's economy shrank 0.7 percent in the fourth quarter of 2012 from the previous three-month period

• Jan 30, 2013

ECB: Banks to repay early $183 billion in loans

Banks are starting to make repayments on the cheap, three-year emergency loans they received from the European Central Bank

• Jan 25, 2013

Spain's unemployment hits record 26.02 percent

Country is in the throes of its second recession in just over three years; there are 1.8 million households in which no one is employed

• Jan 24, 2013

Portugal returns to bond sales with strong demand

Bailed out government said it had received offers for $13 billion of five-year bonds

• Jan 24, 2013

Pressure on Spanish PM to explain Swiss bank money

Opposition demands explanation how a former governing party treasurer amassed 22 million euro in a Swiss bank account

• Jan 22, 2013

Dutchman elected head of euro finance ministers

Dutch finance minister Jeroen Dijsselbloem will now face one of the world's most daunting financial tasks

• Jan 21, 2013

Dutchman set to become new Eurogroup head

Finance minister poised to take on one of the top jobs in the currency bloc's battle to end its financial crisis

• Jan 21, 2013

Juncker: No bailout for Cyprus before March

Island nation is seeking financial assistance of about 17 billion euro to recapitalize its ailing banks and keep the government afloat

• Jan 21, 2013

IMF: Deep cuts restored Greek recovery program

Earlier this week, the IMF approved a long-delayed $4.3 billion loan installment to Greece following an economic review

• Jan 18, 2013

PM hopes Ireland to leave bailout this year

Enda Kenny: Government is getting its finances under control; lower borrowing rates are a sign of rising investor confidence

• Jan 16, 2013

ECB leaves rates at record low as Europe struggles

Benchmark interest rate remains unchanged at a record low of 0.75 percent

• Jan 10, 2013

Greek unemployment hits new high

Unemployment rate hits 26.8 percent; Young Greeks are the worst affected, with 56.6 percent of those aged between 15 and 24 out of work

• Jan 10, 2013

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