Creditors require more control on Greece budget

Note: This section contains information in English only.
Source: Bloomberg
European creditors are struggling to assure that bailout financing is spent properly. European finance officials demand particular mechanisms to pledge the successful implementation of rescue program. Greece is obligated to meet all requirements set by EU and IMF to receive second bailout financing and repay debt on March 20. 

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Fri, 17 Feb 2012 07:35:12 GMT

European markets close lower on news from Moody's and Greece

European shares traded down on Thursday amid worries EU FMs may cancel rescue package for Greece and Moody's rating agency threatened to cut credit ratings for more than a hundred large-scale global lenders. German DAX and FTSE 100 index each fell 0.1% to 6,751.96 and 5,885.38, respectively. In contrast French CAC 40 index and Stoxx 600 Europe index closed 0.1% up at 3,393.25 and 264.31,

Fri, 17 Feb 2012 07:39:36 GMT

Olympus former chairman arrested in connection with fraud

Ex-chairman of Olympus Tsuyoshi Kikukawa and other former executives were arrested Tokyo prosecutors on Thursday in connection with an accounting fraud involving a cover up of investment shortfalls. Former executives Hisashi Mori, Hideo Yamada, and Akio Nakagawa, were also arrested as they are suspected of breaching the Financial Instruments and Exchange Law via faking financial statements. 

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