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IANS 25 August 2015
The People's Bank of China (PBOC) announced on Tuesday a cut in the reserve requirement ratio (RRR) and lower key interest rates.   From September 6, it will cut the RRR for financial institutions by 50 basis points, Xinhua news agency reported.    The RRR for financial...

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Vatsal Srivastava (IANS) 17 August 2015
If China decides to devalue further in the coming weeks, then I will stand corrected and we will witness another round of very volatile choppy moves across the financial markets   After all the excitement and hyper-analysis of the yuan devaluation, global markets have read Beijing’s...

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The benchmark Shanghai Composite Index plunged 8.48 percent to close at 3,725.56 points, China.org reported   Chinese shares nosedived on Monday, in the biggest single-day fall in over eight years.   The benchmark Shanghai Composite Index plunged 8.48 percent to close at...

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Unless proper action is taken the Greek debt-to-GDP ratio could soar to 200 percent in the next two years, the IMF had warned European leaders ahead of last Sunday's negotiations with the embattled nation.   "Greece's debt can now only be made sustainable through debt relief measures...

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To date, Greece's arrears to the IMF total about 2 billion euros   The International Monetary Fund (IMF) said on Monday that Greece missed a new repayment worth of about 456 million euros to it by the day after the country failed to make a 1.5 billion-euro repayment due on June...

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Eurozone leaders on Monday reached a "unanimous" agreement after marathon talks over a third bailout deal for Greece, European Union (EU) President Donald Tusk said.   He tweeted that a bailout programme was "all ready to go" for Greece, "with serious reforms and financial support",...

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The BRICS New Development Bank will consider membership of new countries within six months, with the most probable new candidates being African states, its first president, India's K.V. Kamath, said on Wednesday.   "Currently we only have five partnering states and we’ll be working...

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The International Monetary Fund (IMF) Managing Director Christine Lagarde said that the fund will not bend rules on debts owed by Greece but would remain fully engaged in order to help find solution.   "Whenever the IMF (is) involved, it's certainly my view that the IMF has to follow...

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The Greek government has extended bank closures and a 60 euro($66) daily limit on ATM withdrawals until Monday, media reported on Thursday.   "The bank holiday is extended to July 13," the finance ministry said in a statement late Wednesday.   The curbs were imposed on June 28...

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Vatsal Srivastava (IANS) 08 July 2015
Indian bears are pressing the sell button hard taking cues from the Chinese stock market sell-off and the possible contagion effects of a Grexit on peripheral Europe.    Yes, the China fall is extremely worrying. This is not only because of the steepness of the fall and the scary...

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At the end of a Eurogroup summit, European Commission President Jean-Claude Juncker said Grexit cannot be ruled out though he does not want Greece to leave the Eurozone.   "Friday morning will be the last moment," Juncker said on Tuesday night, setting a deadline for the Greek...

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An emergency Eurogroup meeting in Brussels on the Greek debt deal ended inconclusive on Tuesday, with lenders saying that they expected to discuss Greece's proposals on Wednesday during a Eurogroup teleconference.   The finance ministers of euro zone countries didn't receive new...

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French President Francois Hollande and German Chancellor Angela Merkel said "The door remains open for discussions," after a meeting held following Greek voters rejected creditors' bailout terms in a referendum Sunday.   "There is no longer enough time, and there is an urgency, for...

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In many ways the present-day crisis can be attributed to the single currency introduced in 1999, the euro. Greece has been a member since Jan 1, 2001   What is the Greek referendum? How did the crisis there start? What next? Will India be impacted? IANS presents a primer on the crisis...

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Greek Finance Minister Yanis Varoufakis announced his resignation on Monday after the country voted “No” to a bailout offer in a landmark referendum.   In a posting on his website, Varoufakis said the decision was made in view of "a certain 'preference' by some Eurogroup participants,...

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Schulz said that an immediate renegotiation was necessary and possible but depends on Greek proposals   The European Union urged the Greek government to make "meaningful" and "possible" proposals in coming hours for renegotiation, following early results which have shown that Greece...

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At least 40% of the electoral body should participate for the referendum to be valid, under the Greek Constitution   "NO" led by 61 percent of votes against 39 percent for YES in crucial Greek referendum on the debt deal creditors' have submitted, according to the first official...

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Some German politicians and businessmen have expressed their feelings following the emerging outcome of Sunday's referendum in Greece   Ralph Brinkhaus, deputy parliamentary fraction leader of Germany's Union parties led by Chancellor Angela Merkel, expected "poor prospects" for...

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Financing needs for Greece could add up to over $55.42 billion (50 billion euros) over the period from October 2015 to end 2018 in order to keep the country afloat, the International Monetary Fund (IMF) said in a staff report.   The IMF's warning on Thursday came before Greece's...

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The government dismissed media reports claiming that it fully accepted lenders' offer ahead of a crucial Eurogroup teleconference rescheduled for Wednesday evening, Xinhua news agency reported   The Greek government on Wednesday revealed its latest proposal for a debt deal with...

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