Tag: Euro

Italian Populists Warn of Rush to Leave the Euro

Eurozone countries will compete to leave the single currency next year and this will lead to the euro collapsing, one of the leading candidates to become Italian Prime Minister has warned. Luigi di Maio, a senior member of the populist Five

Reuters/Kacper Pempel

Iran Demands Oil Payments in Euros, Not U.S. Dollars

Iran’s re-entry into the oil market, following the end of sanctions over its nuclear program, will also mark the beginning of a major effort to reduce its dependency on the U.S. dollar. Not only is Iran demanding payment in euros instead of dollars for its new oil contracts, but it also wants the billions owed by its trading partners to be remitted in euros.

eurozone

No Further Eurozone Expansion Seen ‘In Next Few Years’

The eurozone is not expected to welcome any new members in the coming years, as the region’s long crisis seems to have put some countries off, deputy European Commission chief said in a newspaper interview Monday. “No new members are

AP Photo

Short on Money, Greece Brings Back the Barter System

Greeks are getting around what is delicately described as a “liquidity problem”—i.e. no money—by bringing back the barter system. It even has an Information Age twist: a bartering website with its own virtual currency system, and thousands of users.

Alexis Tsipras

Greek Prime Minister Alexis Tsipras Resigns

In a televised address to his people, he said he had a moral duty to resign, because he was elected (just over half a year ago!) as a staunch opponent of the austerity measures he now believes it necessary to impose, in order to keep Greece in the Euro and secure its future.

Alexis Tsipras

Tsipras likely to call confidence vote after party revolt

The Greek government appears likely to call a confidence vote following a rebellion among lawmakers from the ruling Syriza party over the country’s new bailout deal, senior ministers said on Monday. Energy Minister Panos Skourletis described such a parliamentary vote

Alexis Tsipras

Greek PM Tsipras wins bailout vote, faces widening rebellion

Greek Prime Minister Alexis Tsipras confronted a widening rebellion within his leftist Syriza party as parliament voted to approve the country’s third financial rescue by foreign creditors in five years. The vote was held after daybreak on Friday after lawmakers

AP Photo/Yorgos Karahalis

Greek Stock Market Crashes 16% on First Day, Bank Stocks Hardest Hit

The Greek stock market was shut down five weeks ago, as the nation spiraled into an economic and political crisis, facing its final debt showdown with European creditors. The market just concluded its first day of trading since the shutdown, and the outlook is grim: the market lost 16.2 percent of its value on the first day back in business.

Milos Bicanski/Getty Images)

Greek PM Tsipras Considers Early Elections, Struggles With Syriza Party Revolt

On Wednesday, Greek Prime Minister Alexis Tsipras floated the idea of calling for early elections in Greece to “bolster a parliamentary majority that has been strained by bailout reforms demanded by creditors,” as Reuters put it. Such is the chaos of end-state socialism in Greece that Tsipras really needs his own party to lose in those early elections. The Syriza party is coming unglued over the austerity components of Greece’s latest bailout package.

Greece approves more economic reforms needed to acquire $93M bailout

WATCH: Greeks face up to bailout reality

Greek Prime Minister Alexis Tsipras may have contained a rebellion in his left-wing Syriza party to win parliamentary approval for a second package of reforms. But as Ciara Lee reports he’s still got a long way to go in order

PICTURES: Greek MPs Support New Reforms, Unions Riot

The Greek parliament last night comfortably passed a second set of reforms in order to continue talks on a new bailout, although the governing Syriza is now deeply divided. Dozens of hardliners with Prime Minister Alexis Tsipras’s party rebelled, effectively

Yanis Varoufakis

Varoufakis: Greek Reforms ‘Going to Fail’

Greece’s outspoken former finance minister has warned the country’s controversial planned economic reforms are “going to fail” and said the country’s government does not really believe they will work. Yannis Varoufakis told the BBC that Greece was being subjected to

Reuters / Alkis Konstantinidis

Greek Parliament Approves Bailout as Socialist Syriza Party Comes Unglued

There was speculation Wednesday that the International Monetary Fund’s disapproval of the European Union bailout package for Greece would stiffen resistance in the Greek Parliament against it, but in the end, they voted in agreement with what Reuters describes as “sweeping austerity measures demanded by lenders to open talks on a new multibillion-euro bailout package to keep Greece in the euro.”

IMF Not Happy with EU Bailout Terms for Greece

There has been trouble brewing between the International Monetary Fund and the European Union about the vast debts Greece owes to both of them, but rhetorical shots were finally fired on Wednesday, as the IMF offered stiff criticism of the EU’s bailout deal with Greece.

AP Photo

EU Could Force Britain to Pay £850m to Bail Out Greece

Britain could face a bill of up to £850m for latest Greek bailout as European leaders desperately search for money for the heavily indebted nation. Although Britain is signed up to an emergency EU fund, Prime Minister David Cameron believes

Eurozone Clinches Deal with Greece

Euro zone leaders clinched a deal with Greece on Monday to negotiate a third bailout to keep the near-bankrupt country in the euro zone after a whole night of haggling at an emergency summit. “Euro summit has unanimously reached agreement.