Greece

"If it's saying 'No' to austerity, then it's a 'No' from me too. But if we are rejecting Europe, I disagree with that," he said — a position that many of Greece's perplexed public find themselves in ahead of one of the most important votes in their country's modern history.

Stoltenberg called Greece "a staunch ally and a committed ally" on Thursday. He said the Greek government stands by its "commitments in the alliance. This good for Greece and good for NATO."

The agency said Wednesday Greece was likely to default on its remaining privately held debt due to its impasse with lenders.

Former Economy Minister Roberto Lavagna is credited with playing a key role in Argentina's recovery after its $100 billion default in 2001.

He said Tuesday that a "strong restructuring" of the Greek debt is the way to help Greece come out of its crisis and avoid conflict within the European Union.

Greece is in a financial limbo now that its bailout program has expired, cutting it off from vital financing and pushing it one step closer to leaving the euro. 

The country has put limits on cash withdrawals in order to keep banks from collapsing.

Greece's government appeared to be softening its stance toward its creditors, but European officials ruled out any deal before a Greek referendum this weekend.

Chubb Corp. soared 32 percent after the insurance company agreed to be acquired by Ace for about $28 billion.

The Dow Jones industrial average gained 160 points, or 0.6 percent, to 17,782 as of 9:35 a.m. Eastern time Wednesday.

The Standard & Poor's 500 index gained 16 points, or 0.8 percent, to 2,079. The Nasdaq composite climbed 45 points, or 0.9 percent, to 5,033.

The official, who spoke only on condition of anonymity because the announcement was not official, said "clearly no agreement tonight. 

The rebound Tuesday came a day after U.S. markets had their biggest plunge of the year.

Greece is moving closer to defaulting on its debt and could be forced to abandon the euro currency.

The Dow Jones industrial average dropped 350 points, or 2 percent, to 17,596 Monday.

The Standard & Poor's 500 index sank 43 points, or 2.1 percent, to 2,057.

The Nasdaq composite tumbled 122 points, or 2.4 percent, to 4,958.

European markets fell even more. Stocks fell 3.6 percent in Germany and 3.7 percent in France.

Bond prices rose sharply as investors sought safety. The yield on the 10-year Treasury note fell to 2.32 percent.

"Whether Greece stays within the euro is not only a question that concerns Europe, but also concerns China and Europe," Li Keqiang told reporters at the end of an EU-China summit meeting in Brussels. 

"In addition, this is also something that concerns world financial stability and economic recovery."

Li noted his country is a major customer and supplier for the 28-nation EU, and a long-term holder of eurobonds. He said China is in favor of a united and prosperous EU, as well as a strong euro.

The agency says it now sees a 50-percent chance of Greece leaving the eurozone.