The Greek government has at last confirmed what has long been suspected; it is planning a €2bn gas pipeline with Russia. The move is likely to cause concern in other EU member states and allies such as the United States who fear the
As the Greek crisis deepens, questions are already being asked about whether another Eurozone member could end up in the same situation. With huge public debt, a vulnerable economy and the prospect of a radical left-wing government on the horizon
All sorts of deadlines have come and gone during the Greek debt crisis—as the basket-case nation’s European creditors repeatedly blinked and decided to grant one extension after another—unwilling to precipitate the pan-European (and possibly global) financial earthquake of a “Grexit” from the Euro.
China is teetering on the edge of a 1929-style stock market meltdown, and Greece might be about to exit the Euro. China is worried about what the Grexit, or an even larger collapse of the Euro, might do to its house-of-cards stock market. Everybody else is worried about what a Chinese collapse could do to their markets, especially since Western socialists have sold so much of their own nations to China over the years.
Tourists planning a luxury getaway to the Greek isles are being increasingly hesitant to keep their bookings, thanks to both an economic crisis plaguing the nation’s banks and the Greek government’s inability to process thousands of illegal migrants sailing into island ports from Turkey. In order to keep revenue up, companies are offering steep discounts and encouraging tourists not to cancel trips.
The 28 EU leaders will meet in Brussels on Sunday in a last chance saloon attempt to strike a deal with Greece. Yes, I know we’ve heard this all before. Every week it appears to be the last chance. But
The poll found that UK, France, Germany and the Netherlands appear to view the perception of Greece more negatively due to the current situation. However, the study showed countries that were more impacted by the economic crisis across Europe had a less negative opinion of Greece as a tourist destination.
Contents: Greece’s Alexis Tsipras compares himself to the tragic Antigone; Furious European MEPs plan for humanitarian aid for Greece; Tunisia to build a wall and a moat along the border with Libya
More than 100 MPs from German Chancellor Angela Merkel’s own party are set to rebel against any new bailout deal for Greece – potentially sealing the country’s fate in the Eurozone. According to German media, the rebellion could kill of
The Greek people have “elected a bunch of lunatics,” according to Ryanair boss Michael O’Leary. The entrepreneur’s budget airline has invested heavily in routes to Greece, flying into eight airports across the country and its islands, and the company is
LAS VEGAS, Nevada — Today’s “computer glitches” in China, New York, and for United Airlines is sparking concern that the Western world is about to become embroiled in a cyber war the type not yet seen since the advent of
Tech-savvy Greeks are buying expensive items like Macbook laptops and Playstation games consoles in preparation for a potential barter economy, as it is perceived the gadgets will retain their value, irrespective of economic collapse or currency change. Bloomberg reports Greeks are
Contents: Greece’s Tsipras shows up at Brussels empty-handed; Greece’s finance minister tells himself not to gloat; Report on Obama’s plans for the Mideast strategy into total fantasy; China halts trading on 1,000 companies as stock bloodbath continues
As the financial crisis in Greece worsens, more and more sectors of the Greek economy are taking hits, including the health care system. Greece has a socialized health care system and now that the government is running out of money, so are hospitals.
Socialism is having its moment here in America, even as socialism abroad is collapsing in disarray.
Yesterday, as Greece’s debt negotiations entered a new hard-core round of brinkmanship mistaken by many observers for conciliatory gestures to Europe, observers warned that if Greece ultimately succeeds in squeezing more money out of its European creditors without making the necessary “austerity” concessions, their triumphant irresponsibility could go viral.
The eurozone’s former communist nations, including Estonia, Latvia, Lithuania and Slovakia, have themselves endured painful reforms and austerity programmes within living memory. Perhaps as a result, they are now among those taking the hardest line on Greece following that country’s
The Greek island of Lesbos, typically a popular European vacation destination, has received such a prodigious influx of refugees attempting to enter Europe by crossing the Aegean Sea from Turkey that immigration offices on the island are remaining open 24 hours a day to process them, and are still woefully behind on the procedure.
Greek Prime Minister Alexis Tsipras had a final chance to present credible reform proposals to an emergency euro zone summit on Tuesday to persuade sceptical creditors to reopen aid talks before his country’s banks run out of money. With Greek
Contents: Greece’s crisis deepens as German position hardens; Surge in Boko Haram attacks raises questions about new president of Nigeria
European creditors have warned Greece that it can expect no further help and that it will crash out of the euro unless it accepts the bailout deal. The Times reports that Germany said the only aid it will now offer
As Europe plunges further into chaos following Greece’s decisive “No” vote on Sunday, the eyes of the world are on the Syriza-led Greek government. Prime Minister Alexis Tsipras and the now departed Finance Minister Yanis Varoufakis are deservedly in the
Vladimir Putin is reportedly reaching out to Greek leaders to try to affect the outcome of the recent crisis. On Sunday, Greek voters once again defied European leaders and voted against approving new austerity measures.
As Greece breaks apart on the rocky shores of the European Union, the man who did so much to run his nation’s finances aground has decided to call it quits. The New York Times sees the sudden resignation of “combative” Finance Minister Yanis Varoufakis as a gesture of “conciliation” between the socialist Syriza government and a thoroughly fed-up European Union, but it might be premature to talk about Greece making peace with its creditors.
Greek Prime Minister Alexis Tsipras has nominated the successor to outspoken Finance Minister Yanis Varoufakis who announced his surprise resignation earlier today. Euclid Tsakalotos has been up to now Greece’s “Alternative Foreign Minister” focussing on purely economic affairs. As Varoufakis
Antonis Samaras, the head of Greece’s conservative New Democracy party, has resigned from leadership following the nation’s resounding rejection of Eurozone debt repayment terms in a referendum on Sunday. Samaras will be remembered most for being the only prime minister in the last decade to accept austerity measures and attempt to curb Greece’s spending during the current crisis.
Greece voted ‘No’ by a landslide in a referendum on the latest EU bailout deal. Here’s what it means: 1. You have just added a new word to your Greek vocabulary. Besides ‘retsina’, ‘souvlaki’, ‘moussaka’, and ‘kalamares’ you now know
Contents: Europe enters a dangerous period after Greece’s Tsipras wins overwhelming victory; China takes emergency measures to stem stock market panic; China’s ‘Market Stabilization Fund’ mimics America’s ‘Organized Support’ in 1929; In lavish ceremony, the new King of Tonga is crowned — by an Australian
As Europe wakes to the momentous result in Greece, some of the continent’s papers are predicting a near apocalypse over the ‘No’ result. The German papers are relatively muted, although not exactly pleased, about the result. Die Welt says “Greece
The leaders of France and Germany will hold emergency talks later after Greek voters decisively and “bravely” rejected a tough new bailout deal. Robert Nisbet reports.
In a further sign its days in the euro may be numbered, the Greek government is considering introducing an “IOU currency” to boost liquidity while banks remain closed. In the wake of last night’s decisive “No” vote, top Syriza officials
Greece’s outspoken finance minister resigned on Monday, removing a major obstacle to any last-minute deal to keep Athens in the euro zone after Greeks voted resoundingly to reject the austerity terms of a bailout. Yanis Varoufakis, a self-proclaimed “erratic Marxist”
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.
Greek citizens are celebrating tonight as around 61 per cent of them voted ‘no’ to the European Union-imposed bailout measures. Polls closed at 4pm local time today, whereupon it soon became clear that the ‘No’ camp – rejecting EU-demands for
Polls are closed in Greece, where voters have been casting their ballots in favour of, or against the European Union-backed bailout and austerity plans for the country. While not a direct vote on membership of the Euro, most economists and
In an interview with Manchester, NH’s WMUR, Republican presidential hopeful Donald Trump was asked how he would handle U.S. policy regarding the ongoing Greek debt crisis. According to Trump, the problem is a product of European nations trying to hurt
Contents: Greeks are deeply divided over Sunday’s referendum; Greece’s referendum revives memories of a bloody civil war; Tunisia declares a ‘state of war’ as Mideast meltdown continues
Greek voters headed to the polls Sunday to decide their country’s cooperation with the terms of an international bailout. The truth is that Greece has actually been in default of its debt obligations for more than half of the last two centuries.
Eurosceptic parties from both sides of the European political spectrum are making the most of today’s referendum on the acceptance of the national creditors’ terms. Along with prime minister Tsipras, parties of the left and right who find themselves unenamoured with
From The Independent: And now for Greece’s moment of truth. Or not, as the case may be. The effectively bankrupt country, its economy paralysed and its banks set to run out of cash on Monday, goes to the vote in
