U.S. stocks ended higher after a choppy session on Tuesday, as a rebound in U.S. oil prices helped offset concerns about a slowdown in China and the Greek debt crisis.
Tags: Angela Merkel
Merkel Announced to Prioritize Africa in G20 Presidency
The German chancellor said that she will prioritize Africa for Germany's G20 presidency next year. She reiterated that she want to strenghten private investment in Africa and urge other companies to invest in Africa.
Merkel Calls European Countries For Reopening Borders To Rescue Greece
Merkel government has taken a bold step supporting the fleeing refugees. Recently, the German Chancellor has requested the other European countries to reopen their borders to ease the refugee pressure on Greece. Greece has requested for emergency financial assistance from other European countries.
Greece Recalls Its Ambassador in Austria Over Migrant Dispute
Greece recalled its ambassador from Austria, following Austria's decision to close its border for migrant. While majority of people are not satisfied with government's way in handling economic crisis.
European bailout fund grants release of aid to Greece
The first tranche of the bailout package for Greece has been released. The European Stability Mechanism board approved the release of €26 billion ($29 billion) Wednesday after assemblies of creditor nations, including Germany, endorsed the package.
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U.S. stocks fell in a volatile Monday session as Greeks resoundingly backed their government in rejecting the austerity terms of a bailout and China implemented emergency measures to stop a selloff in Shanghai's market.
U.S. stock index futures fell on Monday after Greece rejected debt bailout terms, throwing the future of the country's euro zone membership into further doubt.
Four great crises around Europe's fringes threaten to engulf the European Union, potentially setting the ambitious post-war unification project back by decades.
Bundesbank chief Jens Weidmann has warned Angela Merkel's cabinet that a Greek exit from the euro zone would rip billions of euros out of the German budget, German business daily Handelsblatt reported on Sunday, citing government sources.
Greeks woke up to shuttered banks, closed cash machines and a climate of rumors and conspiracy theories on Monday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.
Greece said it may impose capital controls and keep its banks shut on Monday after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level.
Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to either avert a default next week or start preparing to protect the euro zone from financial market turmoil.
German business leaders urged Chancellor Angela Merkel to take a tough line with Greece at an emergency summit of euro zone leaders later on Monday, saying only reform concessions from Athens could keep the country in the euro zone.
Euro zone leaders will attend an emergency summit on Monday, hoping to thrash out a plan with Athens to provide Greece with additional funds to prevent it defaulting on its debt -- but only if both sides play ball.
