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.
The Eurozone rejected Greece’s request for one-month bailout extension only a day after the bankrupt country turned down an extension offer from their creditors. “It looks like we are heading for Grexit,” exclaimed one person who participated in the meetings.
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
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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.
Greece’s international creditors will put their own final proposal for a cash-for-reform deal to avert a Greek default to euro zone finance ministers for approval on Thursday after Athens let a deadline pass, euro zone officials said. “If Greece says
Thousands of Greeks rallied in Athens’ Syntagma Square on Monday demanding their government find a solution to their debt crisis that would allow Greece to remain in the Euro. The protest highlights the persistent demand from the Greek people that they remain within the Eurozone, even as Prime Minister Alexis Tsipras’ negotiation tactics put that reality in jeopardy.
The trouble with Greece is… OK, where to start. Public sector debt? Unemployment levels? Its trade imbalance? A succession of inept quasi-socialist governments? Any or all would be a good place to begin but the underlying problem is that tax
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Brussels (AFP) – Greece and its creditors were working to seal a bailout deal with exactly one week to go Tuesday before Athens is due to repay the IMF around 1.5 billion euros or face default and a possible exit
European Commission head Jean-Claude Juncker warned on Monday that a deal with Greece to unlock vital cash and save Athens from default was “not yet there”, just hours before a crunch debt crisis summit. “Progress was made over the past
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Greece would consider a Russian financial lifeline as it looks to find a way out of its crushing debt burden to the European Union (EU). Greek Prime Minister Alexis Tsipras made the coded threat Friday as he shared a platform
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LONDON, United Kingdom – EU chiefs are so ideologically committed to the euro that they may not let Greece leave the currency even if it defaults on its debts, Germany’s leading Eurosceptic has said. Speaking to a meeting of the
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The British government is accelerating its preparations for a possible Greek exit from the euro zone, a spokeswoman for Prime Minister David Cameron said on Wednesday, after the Greek central bank warned of the consequences of such a scenario. “You can
The Greek government is running out of time, money and broad support as a new poll shows a clear majority of Germans want Greece to leave the European Union (EU). Polling company YouGov revealed Wednesday that 58 per cent of
Greece remains defiant in the face of a possible “Grexit” from the European Union (EU), with Athens and its creditors attempting to avoid both defaulting and leaving the currency alliance, which Germany’s EU commissioner has referred to as a scenario that could create a “state of emergency,” Reuters reports.
Greece insisted Monday it is ready to return to bailout talks “at any moment” after a breakdown in negotiations with creditors pushed the country closer toward bankruptcy and jolted international markets. As concern over Greece’s financial future swelled across financial
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The long standoff between intransigent Greek socialists and their increasingly exasperated creditors appears to be reaching an end, judging by the commentary after an International Monetary Fund meeting this week. It sounds as if the Greeks are running out of cards to play.
Individuals associated with the All Workers Militant Front (PAME), a communist trade union, stormed the Greek Foreign Ministry on Thursday, demanding the far-left government of Prime Minister Alexis Tsipras not agree to any austerity reforms with the European Union, reforms demanded by both the EU and creditors to help Greece avoid a debt default.
Turkey is temporarily closing at least one of its borders to Syrian refugees after accepting 1.8 million Syrian nationals fleeing the ongoing civil war there. Turkey’s deputy prime minister stated the decision was based on the fact that “there is no longer a humanitarian tragedy” on the other side of the border, though a change in that status would once again open the border.
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Greece is currently considering a measure that would grant citizenship to second-generation immigrants, defined as children born in Greece to parents who have lived there legally for at least five years, with an added requirement that applicants must be properly enrolled in a primary school.
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With tens of thousands of migrants braving the Mediterranean and Aegean Seas for a change to live in Europe, a report from Greek newspaper Ta Nea puts the dramatic situation in perspective: 407 migrants landed in Greece, mostly traveling illegally from Turkey, in the past 24 hours.
The Group of Seven (G7) kicked off its annual summit this week with the situations in Ukraine and Greece on top of the agenda. President Barack Obama and German Chancellor Angela Merkel met privately on Sunday to hammer out details about the two countries.
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Heavily indebted Greece has played the latest hand in the game of euro one-upmanship by refusing to honour the latest instalment in its debt repayment plans to the IMF. The €300m (£218m) owed to the International Monetary Fund (IMF) is due
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An admission that Dutch taxpayers are unlikely to ever see the €12 billion they have lent to Greece returned has sparked a backlash against continued bailouts in the Netherlands. Kees Vendrik, chairman of the Dutch court of audit has provoked
As thousands of illegal immigrants, mostly from Africa, continue to arrive to Italian shores, tensions are mounting over what to do with them once they arrive.
Contents: Greece’s game of Chicken no closer to resolution; Greece’s Alexis Tsipras faces a government mutiny from the far left
After late-night talks in Berlin with global leaders, Greek Prime Minister Alexis Tsipras says that Greece has reached a “realistic” solution to the debt crisis ahead of Friday’s impending deadline.
The city of Calais, France has been labeled a “war zone” for more than a year now, as violence between competing factions of African migrant smugglers threatens to engulf the city and its economy. As the EU demands France take in 9,000 more migrants, officials doubt the country could keep the peace in that scenario.
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Greek Prime Minister Alexis Tsipras hopes to get the final details of a bailout deal with the European Union worked out by Sunday, but he has faced increased criticism from the hard left in Greece for negotiating at all.
A court in Catania, Italy, has sentenced 23-year-old Haj Hammouda Radouan to life in prison for manning an illegal migrant ship that capsized in the Mediterranean, killing an estimated 200 people. It is the first such sentence in Italy’s history, a precedent arriving just as the nation prepares for the summer rise in African migrants attempting to reach European shores.
