Greece and its membership in Europe's joint currency faced an uncertain future Monday, with the country under pressure to restart bailout talks with creditors as soon as possible after Greeks resoundingly rejected the notion of more austerity in exchange for aid.
Losses intensified on the Toronto stock market near midday as worries grew over whether Greece could be headed for a debt default.
Anxious Greek pensioners swarmed closed bank branches Monday in the hope of getting their pensions, while queues formed at ATMs as they gradually began dispensing cash again following the imposition of strict controls on capital.
Greece and its international creditors remained at loggerheads Thursday over reform measures that Athens must introduce to unlock billions of euros in loans and prevent a likely bankruptcy of the country.
A banking official says the European Central Bank has increased the amount of emergency liquidity that Greek lenders can draw on, the second time it has done so in two days.
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The funded status of DB pension plans in Canada, the U.S. and the Netherlands has fallen since December 2011, according to new data from Mercer.
Multinational companies are looking to gain more control over employee benefits plans, mostly to counter rising costs and financial risks, but the majority has a ways to go before accomplishing that goal.
Employers in the troubled eurozone need to take preventative action to help protect the investments of their pension plan members, according to a new release from Mercer.
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