Tag: Grexit

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

Alexis Tsipras, Angela Merkel

Greek Bailout: Germans Vote On Deal Nobody Believes In

Today the Greek bailout plan comes before the German parliament (the Bundestag), the latest approval hurdle for the third bailout package which nobody believes will work. Ratification of the €86 million rescue deal is expected, notwithstanding yesterday’s comments from Germany’s Federal Finance Minister Wolfgang

The EU Is Dead: It Just Refuses to Lie Down

Anyone who has ever witnessed the terminal struggles of insects in a killing bottle will recognise the nature of the paroxysms contorting the EU “leaders” today. The Greek pantomime is beyond parody. It is a shadow-boxing contest between two factions of the

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

Greek Bailout: Everybody Capitulated to Everyone Else

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.

AP Photo

China Worries About Greece as Everyone Worries About China

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.

Be Afraid: Obama Enters Greek Financial Crisis

The Greek financial crisis just got worse. As if the mountain of debt, default and ruination of the EU’s collective economy wasn’t bad enough, now US President Barack Obama has started cold calling European leaders to offer them words of economic counsel.

AP Photo

The EU: A Wounded Beast Whose Time Has Passed

The beast is wounded – probably mortally – but it will take an inordinately long time to die and in its prolonged death throes it will devastate whole nations’ economies, living standards and dignity. Circle the date ‘5 July 2015’ in your

Reuters: Four Converging Crises Could Destroy Europe

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

AP Photo

Strange Bedfellows: Turkey Offers Greece Aid to Remedy Financial Crisis

Multiple factions within the Turkish government have expressed a willingness to help the Greek government repay its debts to the European Union, from a general statement by Turkish Prime Minister Ahmet Davutoglu that Turkey will do “whatever we can” to help Greece to the nation’s leftist party suggesting a massive loan to the Greek government in solidarity.

AP Photo/Virginia Mayo

China ‘Willing to Play a Constructive Role’ in Keeping Greece in the Euro

As talks between Greek officials and members of the IMF and European Union approach their conclusion before a potential exit of the Hellenic nation from the eurozone, Chinese officials are suggesting they could play a role in helping Greece pay back its debts. The Greek crisis has negatively affected the Chinese economy, which has invested millions in Greece.

EU Makes Last-Ditch Bid to Save Greek Bailout

This article originally appeared at Reuters: EU authorities made a last-minute offer to salvage a bailout deal that could keep Greece in the euro as the clock ticked down on Tuesday, with Germany warning that time had run out to

Greece Shuts Banks, Imposes Capital Controls as Euro Referendum Nears

Greek Prime Minister Alexis Tsipras has forced all banks in the country to shut down and limit the amount of money Greeks can withdraw from ATMs. This is in anticipation of a July 5 referendum on whether Greece should accept economic reforms in exchange for a shot at not defaulting on its $271 billion debt to the European Union and the IMF.

Downing Street: Britain Preparing for Greek Euro Exit

The British government is accelerating its preparations for a possible Greek exit from the euro zone, a spokeswoman for Prime Minister David Cameron said on Wednesday, after the Greek central bank warned of the consequences of such a scenario. “You can

Grexit on the Brink as EU, Athens Hold Firm on Proposals

Greece remains defiant in the face of a possible “Grexit” from the European Union (EU), with Athens and its creditors attempting to avoid both defaulting and leaving the currency alliance, which Germany’s EU commissioner has referred to as a scenario that could create a “state of emergency,” Reuters reports.

GREXIT IS NIGH: Markets Panic As Greece Edges Closer to Default, Euro Exit

Greece insisted Monday it is ready to return to bailout talks “at any moment” after a breakdown in negotiations with creditors pushed the country closer toward bankruptcy and jolted international markets. As concern over Greece’s financial future swelled across financial