From Reuters: Greek banks are set to keep broad cash controls in place for months, until fresh money arrives from Europe and with it a sweeping restructuring, officials believe. Rehabilitating the country’s banks poses a difficult question. Should the euro zone
Speaking about the “deepest systematic crisis in EU history”, a top European Socialist yesterday said that the EU’s social agenda has been “replaced by a form of financial dictatorship” and warned if that continues Europe “will die”. In doing so Gianni Pittella (pictured
Addressing a crowd of U.S. Senators, think-tanks and European leaders, Nigel Farage brought to Washington the strength of feeling in siding with the Greeks “smashing molotov cocktails into the walls of their parliament” last week. “If I’d been a young
Remember the European Union? That project that was supposed to make us all love each other, throw open our borders, toss out our currencies, bin our national flags, and basically have a massive, gold-starred orgy on the streets of Brussels Luxembourg
The EU’s “foreign office” has ordered a palatial new dinning service, which could cost upwards of £2 million. It includes crystal glassware, silver cutlery and fine china for hosting banquets and feasts for visiting dignitaries. The tableware will be embellished
The Russian government has unilaterally moved its nation’s border nearly a mile into Georgian territory through South Ossetia. Not surprisingly, a British Petroleum (BP) oil pipeline is in the region.
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.”
Athens (AFP) – Anti-austerity protesters hurled petrol bombs at police in front of Greece’s parliament on Wednesday as lawmakers began debating deeply unpopular reforms needed to unlock a new eurozone bailout. Follow Breitbart London on Twitter @BreitbartLondon
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.
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.
The seemingly final deadline for serious Greek proposals in the debt showdown was Friday morning, and some paperwork was indeed delivered on schedule, inducing some optimism that a Greek exit from the Euro would be averted. Depending on who you ask, the deal is either a stunning triumph or disastrous capitulation for either Greece or its creditors.
A Bloomberg reporter, presumably in Athens to cover the developing Greek debt crisis, received quite a surprise with the bill: a charge in the Greek drachma, a long-defunct currency looming its head as the possibility of Greece leaving the euro behind grows with every day its government fails to make a debt payment to Europe.
All sorts of deadlines have come and gone during the Greek debt crisis—as the basket-case nation’s European creditors repeatedly blinked and decided to grant one extension after another—unwilling to precipitate the pan-European (and possibly global) financial earthquake of a “Grexit” from the Euro.
China is teetering on the edge of a 1929-style stock market meltdown, and Greece might be about to exit the Euro. China is worried about what the Grexit, or an even larger collapse of the Euro, might do to its house-of-cards stock market. Everybody else is worried about what a Chinese collapse could do to their markets, especially since Western socialists have sold so much of their own nations to China over the years.
Michele Coninsx, the chief of the European Union’s agency that investigates terrorism, told the media that she has been given reports of ISIS-linked terrorists making their way into Europe on boats also carrying migrants.
Yesterday, as Greece’s debt negotiations entered a new hard-core round of brinkmanship mistaken by many observers for conciliatory gestures to Europe, observers warned that if Greece ultimately succeeds in squeezing more money out of its European creditors without making the necessary “austerity” concessions, their triumphant irresponsibility could go viral.
As Greece breaks apart on the rocky shores of the European Union, the man who did so much to run his nation’s finances aground has decided to call it quits. The New York Times sees the sudden resignation of “combative” Finance Minister Yanis Varoufakis as a gesture of “conciliation” between the socialist Syriza government and a thoroughly fed-up European Union, but it might be premature to talk about Greece making peace with its creditors.
Russian President Vladimir Putin reached out to President Barack Obama once again to wish him a Happy Independence Day, but also to ask for more dialogue. Russia and American relations soured greatly this past year since Moscow invaded Ukraine.
In an interview with Manchester, NH’s WMUR, Republican presidential hopeful Donald Trump was asked how he would handle U.S. policy regarding the ongoing Greek debt crisis. According to Trump, the problem is a product of European nations trying to hurt
From Reuters: Four great crises around Europe’s fringes threaten to engulf the European Union, potentially setting the ambitious post-war unification project back by decades. The EU’s unity, solidarity and international standing are at risk from Greece’s debt, Russia’s role in
BERLIN, July 5 (Reuters) – Bundesbank chief Jens Weidmann has warned Angela Merkel’s cabinet that a Greek exit from the euro zone would rip billions of euros out of the German budget, German business daily Handelsblatt reported on Sunday, citing
From The Independent: And now for Greece’s moment of truth. Or not, as the case may be. The effectively bankrupt country, its economy paralysed and its banks set to run out of cash on Monday, goes to the vote in
Greece voted on Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the euro-currency area after seven years of economic pain. Staged against a backdrop of shuttered
Police report that they have arrested double the number of illegal immigrants at Czech international airports as they did last year. Most of the aliens were arrested at Prague’s international airport, and a sizeable number of them arrived on planes from Turkey and Greece.
Side-effects of the euro crisis are spreading beyond Greek borders into Bulgaria, Romania and Macedonia. Once seen as their poverty-stricken northern neighbours, Greeks are now looking to Bulgaria for some relief. Euobserver reports that with Greek banks closed and the state in
