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French PM warns 'Grexit' would be 'disaster' for Greece, eurozone PARIS: Greece leaving the eurozone would be a disaster both for the debt-laden country and the single currency, France's prime minister warned on Monday as European leaders continued to try and thrash out a deal on a new bailout for Athens.Asked about the so-called "Grexit," Manuel Valls told French radio that he hoped the option was no longer under discussion at the marathon talks in Brussels. "Because that would be a disaster. A disaster first and foremost for the Greeks, who would live through an unprecedented social and economic shock, which will be even harsher than what they have lived through up to now," he said."The consequences for the eurozone itself would be damaging because it would be weakened," he said, adding that "the future of Europe is at stake.""As we speak, there is still no agreement, the discussions are continuing but with a will that has been expressed by ...

Greece, eurozone 'close' to debt deal: Luxembourg PM BRUSSELS: Greece and its European partners were close to a deal after 17 hours of talks to reach a bailout agreement that could keep Athens in the eurozone, Luxembourg premier Xavier Bettel said on Monday."After 17 hours of negotiations, we are close to an agreement. Europe is strong," Bettel said in tweet after reports that Greece had agreed a compromise that was being considered by the 18 other members of the eurozone.Copyright AFP (Agence France-Presse), ...
Tsipras, Hollande, Merkel and Tusk propose Greece 'compromise' BRUSSELS: The leaders of Greece, Germany, France and the EU reached a "compromise" on a bailout deal for Athens at late-night talks on Monday which will now be put to the rest of the eurozone, a European source told AFP.Greek Prime Minister Alexis Tsipras, German Chancellor Angela Merkel, French President Francois Hollande and EU president Donald Tusk hammered out the proposal on the sidelines of an emergency summit of the 19 countries that use the ...
Russia's Lavrov flies out to Vienna for Iran nuclear talks: ministry MOSCOW: Russian Foreign Minister Sergei Lavrov is flying out to Vienna to take part in talks on Iran's nuclear programme, the foreign ministry said Sunday on Twitter."Sergei Lavrov is flying out to Vienna to take part in the talks of the 'six' international mediators and Iran on the Iranian nuclear programme," the ministry said in a tweet.Russia's TASS state news agency cited unnamed sources in Vienna as saying that a meeting of the ministers from ...
France will do 'everything' to keep Greece in euro: Hollande BRUSSELS: French President Francois Hollande said Sunday that his country would do "everything" to keep Greece in the euro single currency and ruled out a "temporary Grexit" plan drawn up by Germany."France will do everything to find an accord allowing Greece to stay in the euro," Hollande said as he arrived in Brussels for a crucial summit of eurozone leaders.Copyright AFP (Agence France-Presse), 2015 ...
Italy's Renzi to tell Germany to accept Greece deal MILAN/ROME: Greece must not be allowed to leave the euro zone, Italian Prime Minister Matteo Renzi was quoted as saying on Sunday, adding he would tell the German government it had to compromise and not humiliate Athens. "Now common sense must prevail and an agreement must be reached. Italy does not want Greece to exit the euro and to Germany I say: enough is enough," Renzi was quoted as saying by Rome-based daily Il Messaggero ...
Spain retirement home blaze leaves eight dead MADRID: A blaze in a retirement home in northern Spain overnight left eight people dead and 11 hurt, the regional government said Sunday."There are eight dead and 11 hurt, including two seriously from smoke inhalation," a spokesman for the Aragon region government told AFP, adding that the cause of the fire was not yet known.Copyright AFP (Agence France-Presse), 2015 ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln