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Greek bailout talks poised to start as government reels from Varoufakis’ 'Plan B’ confirmation

ATHENS, Greece — The Greek government was poised Monday for the imminent start of intricate bailout discussion but faced rebuke following revelations that former finance minister, Yanis Varoufakis, formed a secret committee to plan for the possible conversion of euros into drachmas “at a drop of a hat.”

The talks have been delayed but are due to start Tuesday with technical teams paving the way for high-level discussions possibly by the end of the week. READ

Greece pledges to crack down on tax evasion as a way of life as part of bailout tax reform

Dimitris Bokas keeps meticulous records of the bathroom fixtures he sells from his small shop in the quiet middle-class residential neighbourhood of Koukaki near the centre of Athens — just in case a tax inspector makes a surprise visit to ensure Greece’s 23 per cent sales tax is being collected and reported correctly. READ

Canada and Ukraine sign free trade agreement, discuss Russian aggression

Canada has reached a trade agreement with Ukraine that will eventually see a near elimination of duties on goods coming into Canada from Ukraine. READ

Greece reaches deal with eurozone leaders, avoiding financial collapse and euro exit

After grueling, often angry negotiations that tested the limits of European unity, Greece on Monday won a preliminary deal that averts financial catastrophe but also guarantees years more of hardship and sacrifice for its people. READ

As Greek government rushes to finalize reform proposals, creditors open to easing debt terms

Hopes that Greece can get a rescue deal that will prevent a catastrophic exit from the euro rose on Thursday, after key creditors said they were open to discussing how to ease the country’s debt load, a long-time sticking point in their talks. READ

Trading resumes on New York Stock Exchange following a 3-hour outage; no cyber breach is seen

Trading has resumed on the New York Stock Exchange after an outage of more than three hours caused by technical problems. READ

China tells companies, executives to buy stocks, promises credit in bid to halt price slide

China announced a flurry of new moves Wednesday to halt a stock market slide. The result? Another big dive in share prices. READ

Greek government asks for 3-year aid program, races to submit suitable reforms proposal

Greece requested a new three-year rescue program from its European partners on Wednesday and rushed to complete a detailed plan of economic reforms in time to avoid the country’s descent into financial chaos. READ

Canada clashes with UN rights panel over resource company behaviour abroad

The federal government clashed with a United Nations panel this week over whether a major international treaty applies to potential human rights violations by Canadian resources companies operating abroad. READ

Canada, Japan at odds over B.C. timber in TPP trade talks, documents show

One of Canada’s most protected industries — British Columbia timber — has been targeted by Japan in the massive Trans-Pacific Partnership trade talks, The Canadian Press has learned. READ

Importers of Greek food stockpiling products amid economic turmoil

Major Canadian importers of olive oil, sea salt, preserved vegetables and other delicacies from Greece say they’ve been stockpiling goods in their warehouses in anticipation that the economic turmoil overseas will get worse. READ

Gulf states reach $18.7 billion settlement with BP over 2010 Deepwater Horizon oil spill

British oil giant BP and five U.S. Gulf states announced a record $18.7 billion record settlement Thursday that resolves years of legal fighting over the environmental and economic damage done by the energy company’s oil spill in 2010. READ

Greek leader presses on with vote on austerity after creditors reject bid for quick deal

Eurozone finance ministers decided Wednesday to break off talks on more aid for Greece until after it holds a weekend referendum, even as the Greek government pressed ahead with plans to let the people decide whether to accept more austerity measures in exchange for a rescue deal. READ

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

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. 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

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

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