Greece

Greece Pleads for Debt Relief From Eurozone and Germany

BRUSSELS (AFP) – Under pressure from the IMF, eurozone finance ministers will consider major debt relief and fresh aid for Greece on Monday despite the deep reservations of bailout-weary Germany. Ministers from the 19-member single currency bloc must confront the

Greece

Repot: Greece Risking ‘Harsh’ New Bailout in 2018

ATHENS, Greece (AP) — An independent Greek parliamentary report has warned that Greece faces an increased risk of a fourth bailout – or even a default – if delays in negotiations with bailout lenders are not overcome in the next few weeks.

eu membership

Eurozone Crisis: Germany Pushes to Punish Bankrupt Greece

BRUSSELS (AFP) – Eurozone finance ministers meet Monday as far apart as ever on the debt relief measures demanded by the International Monetary Fund for it to back their bailout programme for Greece.

AUSTRIA-SLOVENIA-EUROPE-MIGRANTS

Economist: Austria Should Leave the EU after Brexit

A respected economist has said that it is in Austria’s best interest to leave the European Union after Brexit due to the growing influence of poorer nations as a result of the loss of UK membership. Economics professor Hans-Werner Sinn is

apple

EU Countries Demand Slice Of Apple Tax Bonanza

BRATISLAVA (AFP) – Budget-squeezed EU countries will ask Brussels for their share of the billions in Irish back taxes demanded from tech giant Apple, officials said on Saturday.

Greece

Eurozone Ministers Seek To End Greece Bailout Row

(AFP) – Eurozone finance ministers met Monday to defuse a bitter rift between top EU and IMF officials over how strictly to hold Greece to the ambitious reform commitments made as part of its bailout. The eurozone 19 ministers are

Milos Bicanski/Getty Images)

Greece Passes ‘Tough’ 2016 Austerity Budget

Greek lawmakers approved a “tough” 2016 budget early Sunday, forecasting near zero growth for 2015 and a small contraction next year for the debt-ridden country in its sixth year of austerity. The coalition government, which enjoys a narrow majority, managed

euro zone

Greece To Trouble Euro Zone For Decades

HELSINKI (Reuters) – Greece will be a headache for the euro zone for decades, Finland’s eurosceptic foreign minister said, and called for the International Monetary Fund to participate in the Greece’s new bailout package. “Unfortunately, this problem will be in

Greek debt crisis

Germany Profited €100 Billion From Greek Debt Crisis

Between 2010 and 2015 Germany profited from the ongoing Greek debt crisis to the sum of €100 billion, according to a new study. The billions consists of money saved by lower interest payments on funds the German government borrowed amid investor “flights

AP Photo

Der Spiegel: Plans For Euro-Zone Tax Take Shape

From Der Spiegel: After the Greek bailout disaster, Paris, Berlin and Brussels want to reform the euro zone by creating an economic government and a special tax for the currency area. German Finance Minister Schäuble is in favor, but Chancellor

bank shutdown

Hay For Cheese? Barter Booms In Rural Greece After Bank Shutdown

LAMIA, Greece (Reuters) – Wild boar and power cuts were Greek cotton farmer Mimis Tsakanikas’ biggest worries until a bank shutdown last month left him stranded without cash to pay suppliers, and his customers without money to pay him. Squeezed on

FRANCE-EU-ECONOMY-CURRENCY

IMF Paints Dim Picture For Europe, Suggests More Money Printing May Be Needed

BRUSSELS/FRANKFURT, July 27 (Reuters) – The International Monetary Fund warned on Monday that the euro zone’s prospects were modest and that more money printing than planned may be needed. Contrasting the IMF’s relative gloom, however, German think tank Ifo reported improving

AP Photo

Tough Love: EU Tells Greece To Reform Before More Talks Possible

Euro zone leaders told near-bankrupt Greece at an emergency summit on Sunday that it must restore trust by enacting key reforms before they will open talks on a new financial rescue to keep it in the European currency area. Leftist