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Tag: IMF

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Eurozone Expecting Greek Default After Bailout Extension Rejected

The Greek prime minister’s surprise call for a July 5 referendum for voters to decide whether or not to accept the terms of a bailout deal offered by international creditors prompted the eurozone to reject Greece’s pleas to extend the expiring bailout, various news outlets report.

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Eurozone Says No to Greece Bailout Extension

The Eurozone rejected Greece’s request for one-month bailout extension only a day after the bankrupt country turned down an extension offer from their creditors. “It looks like we are heading for Grexit,” exclaimed one person who participated in the meetings.

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Greece Told to Back Down on Debt Demands by Creditors

The long standoff between intransigent Greek socialists and their increasingly exasperated creditors appears to be reaching an end, judging by the commentary after an International Monetary Fund meeting this week. It sounds as if the Greeks are running out of cards to play.

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Former IMF chief Strauss-Kahn acquitted in pimping trial

LILLE, France (AP) — Former International Monetary Fund chief Dominique Strauss-Kahn has been cleared of pimping charges in a French trial that hinged on sex parties that took place in the midst of the global financial crisis. Friday’s verdict closes

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Greece Making Ends Meet by Becoming China’s Gateway to Europe

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.