drachma

‘No Future’ – Leftist Leader Calls For Greece to Ditch Euro

Greece should abandon the “catastrophic” euro and return to the drachma, the leader of the country’s new breakaway left wing party has said. Panagiotis Lafazanis, who served as Energy Minister until he was sacked by Prime Minister Alexis Tsipras, said

Greece Facing Uncertain Future After Rejecting EU Proposals

Greek Prosecutor Investigates Former Finance Minister over Euro Exit Plan

No scene of political turmoil is complete until somebody gets investigated by prosecutors. Such is the fate of former Greek finance minister Yanis Varoufakis, who has become a darling of the anti-austerity, hardcore left ever since he departed his office on the eve of the 11th-hour bailout deal.

REUTERS/INTS KALNINS

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.

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Greece Considers Switching to Drachma, or Maybe Bitcoin, Who Knows?

The long-gestating Greek financial meltdown looks to be getting underway, as the socialist government makes a few final efforts to scare Europe into giving them more money and lays plans to nationalize the banks as they begin dropping out of the Eurozone.

AP Photo