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Greece confirms it will not repay IMF loan as its bailout program is due to expire

ATHENS, Greece — Greece is set to become the first developed nation to not pay its debts to the International Monetary Fund on time, as the country sinks deeper into a financial emergency that has forced it put a nationwide lockdown on money withdrawals.

Greece owes the IMF about 1.6 billion euros ($1.9 billion) by the end of Tuesday but has run out of money and after five months of talks with creditors, has no prospect of getting new rescue loans. READ

Ahead of referendum, Greeks hit by closed banks, warnings from eurozone

Anxious pensioners swarmed closed bank branches Monday and long lines snaked outside ATMs as Greeks endured the first day of serious controls on their daily economic lives ahead of a July 5 referendum that could determine whether the country has to ditch the euro currency and return to the drachma. READ

Canada can pursue trade deal while protecting supply management, says Harper

Prime Minister Stephen Harper says Canada will defend its supply management system for dairy and poultry while still pursuing one of the biggest trade deals in history. READ

Greece’s governing party lawmakers chafe at proposed reforms

Greece’s government on Tuesday defended the billions worth of “harsh” new budget savings it has offered in talks with creditors, as some of the governing party’s own lawmakers spoke out against them. READ

Canadians unaware of TPP trade deal: poll

It’s the biggest free trade deal Canadians never heard of. A new poll suggests three in four Canadians have no idea that Canada is one of 12 countries immersed in negotiations for the Trans-Pacific Partnership. READ

Canada seeks $3 billion in tariffs on US products, in step toward trade war

Canada has filed a request to impose more than $3 billion a year in tariffs on the United States in the latest move in an ongoing trade dispute. READ

Greek prime minister heads to Brussels seeking to sway creditors on proposal for deal

Greece’s prime minister headed for a showdown with key creditors on Wednesday in Brussels, where each side would present proposals to reach a deal that might unlock bailout loans and save the country from looming financial disaster. READ

Former ambassador not confident Keystone will be approved

MONTREAL — A former Canadian ambassador says he’s less confident now than he was a few years ago about the U.S. giving the Keystone XL pipeline project the green light. READ

German town which once drew neo-Nazi marches now welcomes jobless foreigners

A small town in Germany that once was a pilgrimage site for neo-Nazis is now welcoming jobless foreigners with open arms. READ

European finance minister buoy Greece, talk ceding budget sovereignty

Eurozone ministers threw a lifeline to Greece on Tuesday as they scrambled to prevent financial chaos from spreading further and driving Europe’s common euro currency into a catastrophic breakup. READ

Chinese manufacturing shrank the most since March 2009 in November: HSBC report

Concerns about a hard landing for the Chinese economy grew Wednesday after the latest read on the country’s manufacturing sector for November found it shrank to its lowest level since March 2009. READ

Greek leader backs country’s fiscal targets

In an abrupt U-turn, Greece’s conservative junior coalition leader has written to international creditors telling them he backed the country’s fiscal targets, clearing a major sticking point to get a desperately needed loan that will prevent a devastating Greek bankruptcy. READ

Europe’s market turmoil spreads

Fear, that contagious emotion, spread from country to country in Europe on Thursday as panicky investors worried the euro currency union could be heading toward an ugly breakup. READ

Italy’s new government passes first confidence vote

Italy’s new technocratic government has won a crucial confidence vote in the Senate to pursue widespread reforms and austerity aimed at staving off the sovereign debt crisis and saving the euro currency. READ

No politicians in Monti’s new Italian government

Premier Mario Monti formed a new Italian government without a single politician Wednesday, drawing from the ranks of bankers, diplomats and business executives to create a team to steer Italy away from financial disaster. READ

Get your fiscal house in order, Flaherty tells U.S. in speech

NEW YORK — It’s not often a Canadian politician goes to the United States to offer advice publicly, but Finance Minister Jim Flaherty did just that Wednesday, telling a U.S. business audience that Washington needs to get its fiscal house in order. READ

Irish government faces likely ouster, banks fall

DUBLIN, Ireland — The Irish government stood on the brink of collapse Monday, a day after being forced to accept a massive bailout from the European Union and the International Monetary Fund. READ

Greece debt crisis spreads, Spain faltering

BERLIN — Europe’s debt crisis has spread its contagion to another country as a major agency downgraded Spain’s credit rating, even as Germany grudgingly moved closer to bailing out Greece from imminent collapse. READ

Chavez threatens to nationalize gold mining

President Hugo Chavez threatened on Sunday to nationalize gold mining concessions in Venezuela, accusing mining companies of damaging the environment and violating workers’ rights. READ

Pressure on Greek finances intensifies

ATHENS — Greece’s borrowing costs spiked to a record high Thursday, intensifying the country’s debt crisis and suggesting a eurozone and International Monetary Fund rescue plan is providing little support for Athens’ struggle to avoid default. READ

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