UPDATE: European Central Bank confirms it will maintain emergency liquidity assistance to Greek banks. – The most dramatic day yet in Greece’s months long economic crisis saw a run on banks and the confirmation of next Sunday’s referendum on a bailout deal.
Greeks will be given the chance to vote on whether or not their country should continue to heed strict financial demands made by foreign banks and unelected bureaucrats in Brussels. The question to be put before voters is whether or
The Greek farce continues its record-breaking run. After 43 last ditches, 28 eleventh hours and 17 late-night drinking sessions in the Last Chance Saloon, the comedians in Brussels and Athens are rehearsing their latest routine. The joke, of course, is
The trouble with Greece is… OK, where to start. Public sector debt? Unemployment levels? Its trade imbalance? A succession of inept quasi-socialist governments? Any or all would be a good place to begin but the underlying problem is that tax
The Greek government is running out of time, money and broad support as a new poll shows a clear majority of Germans want Greece to leave the European Union (EU). Polling company YouGov revealed Wednesday that 58 per cent of
After late-night talks in Berlin with global leaders, Greek Prime Minister Alexis Tsipras says that Greece has reached a “realistic” solution to the debt crisis ahead of Friday’s impending deadline.
German President Joachim Gauck has stirred his government by remarking in an interview that Germany should at least “consider” demands by leftist Prime Minister Alexis Tsipras that the nation pay billions of euros in reparations for the Nazi occupation of Greece.
In what was received as a pleasant surprise by the European Union, Greece made its first 460 million euro payment to the IMF this week. The Mediterranean country continues to struggle with generating enough revenue to pay off their multi-billion-dollar debt, and one major international player looking to capitalize on their need for business is China.
Eurozone countries are drawing up secret documents to force Greece out of the single currency, a memo from the Finnish finance ministry has revealed. The monetary alliance is preparing to act should Greece be declared bankrupt next month. That will happen
The Greek Government were left under no illusions about their fragile position in the Eurozone after the summit in Brussels yesterday. Leaders from Germany and France warned the left wing Syriza party that unless Athens progressed with radical reforms, it
Former French President Valery Giscard d’Estaing has said that Greece should leave the euro so it can devalue its currency and increase its economic competitiveness. Giscard, who notably presided over the Convention on the Future of the European Union that
