Speaking of an EU coup in Greece, Former Greek finance minister Yanis Varoufakis has warned Europe will no longer exist as a monetary union if it fails to reform. In a recent interview he also accused the architects of the new
FRANKFURT, July 29 (Reuters) – The European Central Bank said on Wednesday that the euro zone’s founding members had diverged economically, a “disappointing” outcome that goes against the premise that a common currency would let laggards slowly catch up. Central
The prominent Italian economist and former government minister, Paolo Savona, has said that Italy “must have a plan B” to exit the euro. He added that the Greek bailout deal was “badly constructed” and warned packages like it, designed to exert economic control
Nigel Farage has slammed socialist French President Francois Hollande’s “desperate” bid for the revival of old plans for a ‘eurozone government’ as part of a plan to renew faith in the European project. Calling for further integration between member states as a
BERLIN, July 17 (Reuters) – German lawmakers gave their go ahead on Friday for the euro zone to negotiate a third bailout for Greece, heeding a warning from Chancellor Angela Merkel that the alternative to a deal with Athens was
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
In the early hours of this morning Greece’s parliament passed the austerity measures demanded by its creditors in order to open talks on a new Greek bailout. Prime Minister Alexis Tsipras, deserted by many in his own Syriza party who believe the
A leaked IMF study of the Greek debt crisis, ignored by creditors at the weekend, warns Greece may need a 30 year moratorium to pay off European debt, including new loans, and a dramatic extension on the maturity of its debts. The
After 17 hours of “extremely hard, violent even” negotiations concluded in Brussels on Monday, a third Greek bailout – a three-year plan worth some €86 billion – appeared secure. Then doubt began to emerge. Most centred on whether Prime Minister Tsipras
Greek Prime Minister Alexis Tsipras has flown home after an epic 17-hour crisis meeting with Eurozone leaders to sell the austerity package he has agreed to his own party – who may attempt to block it. Tsipras must push several unpalatable measures
Mayor of London Boris Johnson has described the German proposals for a deal with Greece as “tyrannical”, and has advised the Greek people to “rediscover the spirit of Marathon” and exit the euro. Eurozone leaders argued long into the night
“The European Project is begging to die” and a “new Berlin Wall…called the euro” is dividing the continent Nigel Farage told the European Parliament this morning. He was speaking directly after Greek Prime Minister Alexis Tsipras, whom he praised as “very brave”
With the European Commission President Jean-Claude Juncker dampening expectations of a speedy resolution to the Greek economic crisis, analysts are again giving apocalyptic visions of the country’s future. PA reports Neil MacKinnon, global macro strategist at VTB Capital, setting out exactly how bad
Despite fears some had of an inconclusive and divisive knife-edge verdict, Greece delivered a resoundingly strong ‘No’ vote in yesterday’s referendum. The country partied last night, but today faces the hangover. Some of London’s leading think tanks have given Breitbart London their
The value of the euro compared to major peer currencies is already dropping as the financial effects of the Greek ‘No’ vote in Sunday’s referendum filter into the global market. With analysts predicting banks facing funding crises and individuals unable to take their money from ATMs, volatility is set to reign for some time.
ATHENS, July 5 (Reuters) – Greeks voted on Sunday in a referendum that could determine their future in Europe’s common currency, with banks shuttered, the treasury empty and a population desperate, angry and so deeply split that the outcome was
Greece is on the brink of ruin as food and medicine run short and banks struggle to stay afloat. Banks claimed they had €1bn of cash left to see them through the weekend, just €90 per head, and need immediate
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
Researchers at the University of Thessaly discovered that Greece experienced a 35% spike in suicide rates during 2010 and 2012, with unemployment and the expanding debt crisis in large part responsible for the rise.
