
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
by AFP28 Dec 2015, 4:01 AM PST0

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.
by John Hayward23 Sep 2015, 10:30 PM PST0

Greece should abandon the “catastrophic” euro and return to the drachma, the leader of the country’s new breakaway left wing party has said. Panagiotis Lafazanis, who served as Energy Minister until he was sacked by Prime Minister Alexis Tsipras, said
by Nick Hallett3 Sep 2015, 4:13 AM PST0

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.
by John Hayward20 Aug 2015, 4:22 PM PST0

In a very long piece on former Greek finance minister Yanis Varoufakis in the New Yorker, the former head of the nation’s economy admits to being surprised both by the Greek people’s rejection of an austerity deal and the Prime Minister’s acceptance of one.
by John Hayward20 Aug 2015, 8:00 AM PST0

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
by Reuters17 Aug 2015, 4:13 AM PST0

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
by Reuters14 Aug 2015, 1:43 AM PST0

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.
by John Hayward5 Aug 2015, 6:41 PM PST0

No scene of political turmoil is complete until somebody gets investigated by prosecutors. Such is the fate of former Greek finance minister Yanis Varoufakis, who has become a darling of the anti-austerity, hardcore left ever since he departed his office on the eve of the 11th-hour bailout deal.
by John Hayward30 Jul 2015, 7:58 PM PST0

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.
by John Hayward30 Jul 2015, 4:35 PM PST0

Greece’s outspoken former finance minister could be about to face treason charges after he revealed details of a plot to hack taxpayer accounts in preparation for the country’s exit from the euro. The country’s Supreme Court has referred Yanis Varoufakis
by Nick Hallett29 Jul 2015, 3:45 AM PST0

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
by Breitbart London23 Jul 2015, 5:09 AM PST0

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
by Nick Hallett23 Jul 2015, 4:24 AM PST0

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
by Nick Hallett18 Jul 2015, 3:04 AM PST0

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.”
by John Hayward16 Jul 2015, 11:54 AM PST0

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.
by John Hayward15 Jul 2015, 8:53 PM PST0

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
by Nick Hallett14 Jul 2015, 6:47 AM PST0

Athens (AFP) – Anti-austerity protesters gathered for a small-scale demonstration in front of the Greek parliament on Monday, angry at the country’s EU bailout deal.
by Breitbart London14 Jul 2015, 2:22 AM PST0

Stocks rallied on Monday amid news that the Greek financial crisis was under control, and a bailout deal had been agreed upon, but that might have been a hasty celebration.
by John Hayward13 Jul 2015, 9:20 PM PST0

A Greek exit from the Euro was reportedly closer than ever at 6am European Time on Monday, 13th July 2015. It followed 14 hours worth of talks between German Chancellor Angela Merkel, and Greece Prime Minister Alexis Tsipras. That is until
by Raheem Kassam13 Jul 2015, 12:50 PM PST0

Mayor of London Boris Johnson has described the German proposals for a deal with Greece as “tyrannical”, and has advised the Greek people to “rediscover the spirit of Marathon” and exit the euro. Eurozone leaders argued long into the night
by Donna Rachel Edmunds13 Jul 2015, 4:23 AM PST0

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.
by Reuters13 Jul 2015, 1:05 AM PST0

Eurozone finance ministers meeting in Brussels on Saturday have serious doubts about Greece’s request for a bailout and a deal to start negotiating on the basis of Athens’ proposals is far from certain, sources close to the talks said. Overnight,
by Reuters11 Jul 2015, 6:30 AM PST0

The Greek parliament last night backed a series of punishing tax rises and spending cuts in last ditch attempt to reach a deal for a new bailout. The country has requested a financial lifeline of €53.5bn to prop up its
by Nick Hallett11 Jul 2015, 3:08 AM PST0

Greek Prime Minister Alexis Tsipras won backing from lawmakers on Saturday for painful reform proposals aimed at obtaining a new international bailout, but he faced a rebellion in his own party that could threaten his majority in parliament. The measures,
by Reuters11 Jul 2015, 12:57 AM PST0