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,
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.
The number of migrants and refugees who have made the dangerous voyage across the Mediterranean into Europe has already hit an estimated 150,000 this year, the International Organization for Migration (IOM) revealed today, Agence France-Presse (AFP) reports.
Heritage Foundation Distinguished Visiting Fellow and former Wall Street Journal contributor Stephen Moore squared off against New York Times columnist Paul Krugman in a war of economic arguments that pitted free market, supply-side economics against statist, Keynesian Obamanomics.
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.
Contents: Both Greece and European leaders seem poised to compromise; UK advises all Britons to leave Tunisia
The Greek government has at last confirmed what has long been suspected; it is planning a €2bn gas pipeline with Russia. The move is likely to cause concern in other EU member states and allies such as the United States who fear the
As the Greek crisis deepens, questions are already being asked about whether another Eurozone member could end up in the same situation. With huge public debt, a vulnerable economy and the prospect of a radical left-wing government on the horizon
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.
Tourists planning a luxury getaway to the Greek isles are being increasingly hesitant to keep their bookings, thanks to both an economic crisis plaguing the nation’s banks and the Greek government’s inability to process thousands of illegal migrants sailing into island ports from Turkey. In order to keep revenue up, companies are offering steep discounts and encouraging tourists not to cancel trips.
The 28 EU leaders will meet in Brussels on Sunday in a last chance saloon attempt to strike a deal with Greece. Yes, I know we’ve heard this all before. Every week it appears to be the last chance. But
The poll found that UK, France, Germany and the Netherlands appear to view the perception of Greece more negatively due to the current situation. However, the study showed countries that were more impacted by the economic crisis across Europe had a less negative opinion of Greece as a tourist destination.
Contents: Greece’s Alexis Tsipras compares himself to the tragic Antigone; Furious European MEPs plan for humanitarian aid for Greece; Tunisia to build a wall and a moat along the border with Libya
More than 100 MPs from German Chancellor Angela Merkel’s own party are set to rebel against any new bailout deal for Greece – potentially sealing the country’s fate in the Eurozone. According to German media, the rebellion could kill of
The Greek people have “elected a bunch of lunatics,” according to Ryanair boss Michael O’Leary. The entrepreneur’s budget airline has invested heavily in routes to Greece, flying into eight airports across the country and its islands, and the company is
LAS VEGAS, Nevada — Today’s “computer glitches” in China, New York, and for United Airlines is sparking concern that the Western world is about to become embroiled in a cyber war the type not yet seen since the advent of
Tech-savvy Greeks are buying expensive items like Macbook laptops and Playstation games consoles in preparation for a potential barter economy, as it is perceived the gadgets will retain their value, irrespective of economic collapse or currency change. Bloomberg reports Greeks are
Contents: Greece’s Tsipras shows up at Brussels empty-handed; Greece’s finance minister tells himself not to gloat; Report on Obama’s plans for the Mideast strategy into total fantasy; China halts trading on 1,000 companies as stock bloodbath continues
As the financial crisis in Greece worsens, more and more sectors of the Greek economy are taking hits, including the health care system. Greece has a socialized health care system and now that the government is running out of money, so are hospitals.
Socialism is having its moment here in America, even as socialism abroad is collapsing in disarray.
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.
The eurozone’s former communist nations, including Estonia, Latvia, Lithuania and Slovakia, have themselves endured painful reforms and austerity programmes within living memory. Perhaps as a result, they are now among those taking the hardest line on Greece following that country’s
The Greek island of Lesbos, typically a popular European vacation destination, has received such a prodigious influx of refugees attempting to enter Europe by crossing the Aegean Sea from Turkey that immigration offices on the island are remaining open 24 hours a day to process them, and are still woefully behind on the procedure.
Greek Prime Minister Alexis Tsipras had a final chance to present credible reform proposals to an emergency euro zone summit on Tuesday to persuade sceptical creditors to reopen aid talks before his country’s banks run out of money. With Greek
