Greek Finance Minister, Yanis Varoufakis, earlier told Bloomberg TV “I prefer to cut my arm off” than sign up to a proposal that didn’t include restructuring his country’s debt. As luck would have it the International Monetary Fund (IMF) looks like it sympathises
Greece has failed to make the payment to the International Monetary Fund which was due at midnight Brussels time (11pm London, 6pm E.S.T.). If the IMF declares the non-payment a default then Greece becomes the first developed European country in 71
LONDON, United Kingdom, 7.30pm – The stakes are high as at time of writing a last minute deal between Athens and its creditors still appears impossible to reach. In the absence of a deal before midnight Washington time, the country will default on the €1.6
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.
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
Russian Foreign Minister Sergey Lavrov said at a press conference on Wednesday that Russia would consider financial aid to Greece should the circumstances allow, with the caveat that Russia’s economy is not in the greatest state it could be to help bail out anyone else. Lavrov’s comments echo those of the nation’s Finance Minister in January following the election of new Prime Minister Alexis Tsipras.
A survey has found that 48 per cent of Germans are in favour of Greece leaving the eurozone, compared to only 29 per cent who want them to remain in the currency union. With Greece’s current bailout programme scheduled to
Seventy-five years on from the end of the Second World War, the hostilities between Germany and Greece are rising as the war of words over debt and reparations continues. Newly elected Prime Minister Alexis Tsipras made his first major speech
