How the world sees Greece
Shares around the world were on the slide again today as the rout in global bonds and Greek crisis talks rattled investors. The FTSE 100 index was down 67 points to 6,792 after falling 91 points or 1.3 per cent yesterday. Leading shares in Paris and ...
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For some reason, people think a sovereign default, and a subsequent debt restructuring such as Greece's government faces, is something that is ...
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Greece's Prime Minister Alexis Tsipras is addressing a session of the Greek parliament on the country's debt negotiations with the EU and IMF. Greece has told the International Monetary Fund it will delay Friday's €300m (£216m) debt repayment and bundle ...
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Greek Prime Minister Alexis Tsipras spoke to Russian president Vladimir Putin by phone on Friday, less than 24 hours after Greece announced the postponement of a €300 million payment to the IMF. The two leaders discussed plans for energy cooperation ...
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The prime minister, in a speech to rally his party’s dissenters, took a defiant stand but said Athens’s negotiating strategy would “soon bear fruit.”
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| READ THE ORIGINAL POST AT rss.nytimes.com |
Greece delayed a key debt payment to the International Monetary Fund due on Friday as Prime Minister Alexis Tsipras, facing fury among his leftist supporters, demanded changes to tough terms from international creditors for aid to stave off default. The IMF said Athens planned to bundle four payments due in June into a single €1.6 billion lump sum which is now due on June 30. It was the first time in five years of crisis that Greece has postponed a repayment on its €240 billion bailouts from euro zone governments and the IMF, even though Tsipras said earlier this week that Athens had the money and would make the payment. The delay came as German Chancellor Angela Merkel said talks on a...
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The International Monetary Fund is in very serious trouble. Events have reached a point in Greece where the Fund's own credibility and long-term ...
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| READ THE ORIGINAL POST AT www.telegraph.co.uk |
Are we finally approaching the end of Greece's epic bailout negotiations? At the very least, we have something that looks like it might—maybe, ...
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| READ THE ORIGINAL POST AT qz.com |
Members of Greece's governing Syriza party and government officials amplified their dissent on Friday over a new bailout plan proposed by Greece's ...
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Greece this week moved closer to a possible exit from the eurozone. The country's government told the International Monetary Fund it would not be ...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Greece was due to repay 303.3 million euro ($341.85 million) to the International Monetary Fund on Friday, but after days of drawn-out negotiations, ...
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| READ THE ORIGINAL POST AT www.marketwatch.com |
Raising the stakes in the talks, Greece decided to postpone payment of the 300 million euro ($338 million) loan - a highly unusual step, but one that ...
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| READ THE ORIGINAL POST AT www.reuters.com |
Greece is to delay repayment of €300m (£219m) worth of debt to its international creditors, moving itself ever closer to a eurozone exit. The payment to ...
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| READ THE ORIGINAL POST AT www.theweek.co.uk |
Both sides signed off on this lending deal years ago, but a new Greek political party that was voted into power in February has refused to abide by the ...
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| READ THE ORIGINAL POST AT money.cnn.com |
With a €304 million repayment due to the International Monetary Fund today and with money running short, the Greek government was staring at ...
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| READ THE ORIGINAL POST AT blogs.wsj.com |
Debt-laden Greece has seen a six-fold rise in the number of migrants landing on its shores over last year, the UN said Friday.
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Before Greece's debt crisis, Tota Petropoulou never imagined that her life could come tumbling down around her. Then in 2010, the government began delaying payments for medications covered by state-subsidized health insurance. Ms. Petropoulou tried to save her business – borrowing from family and friends, moving to a smaller apartment, selling her furniture – all to no avail.
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After four months of fraught negotiations, the clash between Greece and its creditors has narrowed down to two duelling proposals, one from Athens and the other from the austerity-minded EU and IMF.
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ATHENS/MOSCOW (Reuters) - President Vladimir Putin and Greek Prime Minister Alexis Tsipras discussed plans on Friday for a pipeline to carry Russian gas to Europe via Turkey and agreed to meet in Russia in two weeks, the Kremlin said. It said the two leaders, who spoke by telephone, would meet at an annual business conference taking place in Russia's second city of St Petersburg on June 18-20. The Kremlin gave no details of the discussions on the pipeline dubbed Turkish Stream, which is planned as an alternative to the South Stream project scrapped by Moscow in December.
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ATHENS, Greece (AP) — The United Nations refugee agency says an estimated 42,000 migrants have reached Greek shores since the start of the year — six times more than in the same period last year and almost as many as those arriving in Italy.
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ATHENS, Greece (AP) — Greece coach Sergio Markarian has recalled midfielder Sotiris Ninis to the Greek national squad after a 19-month absence for a European championship qualifier in the Faeroe Islands, as the team struggles to regain form following a string of defeats.
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Greece cannot accept the latest proposals for a cash-for-reforms deal put on the table by its international lenders but was prepared to negotiate a compromise, Economy Minister George Stathakis said. Greece delayed a key debt payment to the International ...
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| READ THE ORIGINAL POST AT www.rte.ie |
The ECB has been raising the cap on so-called emergency liquidity assistance (ELA) that banks draw from the Greek central bank in increments, ...
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The country invoked a rule created by the IMF in the 1970s that allows it to bundle all of its €1.6bn payments due this month into one. The move means Athens has three weeks to reach a deal with the IMF, European Commission and the European Cental Bank.
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| READ THE ORIGINAL POST AT www.telegraph.co.uk |
Greece will bundle its four debt payments to the International Monetary Fund due this month into a single payment now due on June 30, the IMF said. "The Greek authorities have informed the Fund today that they plan to bundle the country's four June ...
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| READ THE ORIGINAL POST AT www.independent.ie |
Greece's leftist-led government may call early elections if the country's international lenders do not soften their terms for a cash-for-reforms deal, Deputy Social Security Minister Dimitris Stratoulis, a hardliner in the government, said on Friday.
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For much of this year, the uneasy relationship between Greece and its creditors has resembled the Cold War: it has been a constant, unsettling backdrop for markets, but not the center of attention. But the Greek government’s decision to delay Friday’s ...
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Greek Economy Minister George Stathakis told the BBC that the country's ... Greek officials familiar with the country's financial situation say it has the ...
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Just over 300 Syrian refugees with passports lining up to board the night ferry from the Greek island of Kos to Athens where they can be registered.
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Greek shares were on track for their biggest one-day drop in a month, with the Athens General index falling 3.8 per cent in morning trading. Greek ...
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BUFFALO, N.Y. (WKBW) - The Buffalo Greek community is celebrating the 37th Annual Greek Fest. This festival gives you the opportunity to acquaint ...
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The latest talks between Greece and its international creditors remained inconclusive as the Greek Prime Minister Alexis Tsipras rejected some of the austerity proposals. In return, Tsipras submitted a 47-page reform list containing many recommendations including some that had already been rejected by the creditors, EurActiv reports. The Greek Prime Minister identified the discussions as very productive with agreement in sight, but his government could not accept some of the austerity proposals of the creditors. Similarly, Eurogroup President Jeroen Dijsselbloem said that key differences remained between the negotiators. The Greek PM was firm that his government could accept neither further cuts in pensions nor raising VAT in electricity bills to 10 %. Meanwhile, Greece asked the IMF to postpone its debt repayment due on Friday and pay all its four installments due this month by the end of June. Bundling multiple payments falling due in the same calendar month is allowed by the regulations of the IMF, but it was invoked for the last time in the mid-1980s by Zambia. Greece was due to pay EUR 300 M to the IMF on Friday, while the total due until the end of the month is EUR 1.6 B. The country is trying to reach a deal on further bailout before the current deal with its international creditors expires on June 30.
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A Greek flag waves outside an office building in Athens, Friday, June 5, 2014. Desperate for time, Greece is taking an unusual step in negotiations ...
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LONDON (Reuters) - Greece cannot accept the latest proposals for a cash-for-reforms deal put on the table by its international lenders but was prepared to negotiate a compromise, Greek Economy Minister George Stathakis said on Friday.
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The workers who gathered to protest in the Greek port of Piraeus on Thursday were once natural allies of Alexis Tspiras, the Left-wing prime minister. Yet the target of their demonstration was not a private company or a foreign bank – nor even Greece’s ...
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| READ THE ORIGINAL POST AT www.telegraph.co.uk |
Main opposition New Democracy leader Antonis Samaras urged Prime Minister Alexis Tsipras on Friday to restore Greece’s credibility and stability, both domestically and abroad, and follow through with reforms proposed by the previous government. “Instead of bringing tax cuts, you brought a tax raid. You brought the country to its knees domestically and denigrated the country abroad,” Samaras told MPs during an off-the-agenda televised debate that Tsipras requested in order to brief political parties on the ongoing talks with Greece’s creditors. “The country must change policy but first we must restore the country’s credibility and stability, both domestically and abroad,” he added. The New Democracy leader also said his party is not afraid of elections but the country cannot afford elections at this point. Commenting on the question posed by Tsipras earlier on whether the opposition would support a possible deal with the country’s creditors if it was tabled in Parliament, Samaras reverted the question by asking whether the governing SYRIZA party would support it. He then added: “You are asking us what we will do. Bring the final deal and we will tell you.” He also made three proposals to Tsipras in order to achieve a national consensus: “First, you have to end slander. Secondly, you must change policy and stop protecting the public sector. I am struggling for the private sector. Third, restore credibility and stability.” Samaras also accused Tsipras of lying about negotiating with the country’s creditors. “It’s impudence to ask us to state our position on whether we side with the proposal of our creditors or your own,” he noted. He continued to say that the government has missed all fiscal targets, bringing Greece at a difficult spot and reducing its credibility. He also said that the proposals tabled by the government will hurt the middle class. (source: ana-mpa)
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greek opposition “To Potami” leader Stavros Theodorakis urged the SYRIZA-led government on Friday to resolve its internal strife and push for a national consensus ahead of the next round of negotiations with creditors. Speaking at an off-the-agenda parliamentary debate that Greek Prime Minister Alexis Tsipras requested to brief political parties on the ongoing talks with Greece’s creditors, Theodorakis also said his party will support the government in the last effort to reach a deal with the country’ partners, leaving behind warnings of a rift with the EU and bankruptcy scenarios. Taking his turn at the podium, Golden Dawn leader Nikos Michaloliakos said four months have gone by and the government has not achieved anything in its negotiations. He then said: “Maybe a rift would be a solution … Perhaps the love affair with Europe is over?” During the same debate, Greek Communist Party (KKE) leader Dimitris Koutsoumbas said the government did not abolish the Memoranda, as it had pledged. Koutsoumbas also said that Tsipras froze his pre-electoral proposals outlined in a keynote speech in Thessaloniki and is apparently considering entering into new commitments toward NATO as well as preparing to sign a new bailout program. He noted that any new measures will only add to the existing ones that turn against workers and his party will vote them down. (source: ana-mpa)
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
Greece has dug itself into such a deep hole it's unlikely it will be able to recover even with more aid from international lenders. The post World Press View: Another Fine Mess Greece Got Into appeared first on The National Herald.
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Greece cannot accept the "irrational" proposal made by the lenders overseeing its bailout, Prime Minister Alexis Tsipras told Parliament. The post Greece Refuses “Irrational” Offer appeared first on The National Herald.
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Greece delayed a key payment to the International Monetary Fund (IMF) on Thursday, opting instead to bundle all its June payments into one big lump ...
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| READ THE ORIGINAL POST AT www.cnbc.com |
GREECE has delayed a key debt payment to the International Monetary Fund due today, the first time in five years that it has postponed a repayment ...
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| READ THE ORIGINAL POST AT www.express.co.uk |
German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble work together “just fine” on Greece, her spokesman said, after a ...
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Mike Reuter, a trader at brokerage Tradition, backed staying "short" - namely betting on further falls - on equities while the Greek situation remained ...
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ATHENS, June 5 (Reuters) - Greece's government rejects an "absurd" and "unrealistic" proposal from creditors and hopes it will be withdrawn, Prime Minister Alexis Tsipras said on Friday as he called on lenders to accept a rival proposal from Athens instead. Tsipras was presented with a tough compromise proposal for aid from lenders that crossed many of his "red lines" this week, including tax hikes, privatizations and pension reform, quickly sparking outrage from his leftist Syriza party. In an uncompromising speech to parliament, Tsipras said a proposal by Athens made earlier this week was the only realistic basis for a deal and accused Europe of failing to understand that Greek lawmakers could not vote for more austerity. "The proposals submitted by lenders are unrealistic," Tsipras said, adding the offer did not take into account common ground found between the two sides during months of negotiations. "The Greek government cannot consent to absurd proposals." In what appeared to be a threat against lenders that Greece was prepared to move unilaterally if its demands were not met, Tsipras said the government would legislate the restoration of collective bargaining rights for Greek workers - a move opposed by lenders. Still, Tsipras said he was confident that Greece is closer to a deal than ever, and the Greek proposal took needs of the creditors into account. "Time is not running out only for us, it is running out for everybody else as well," he said. "It's certain that in the coming days we will hear many things since we are in the final stretch." (Reporting by Renee Maltezou, Karolina Tagaris and Angeliki Koutantou; Writing by Deepa Babington; Editing by Peter Graff) -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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Greek prime minister accuses his country’s creditors of making ‘absurd’ demands and insists debt-restructuring must stay in placeThe Greek prime minister, Alexis Tsipras, has warned that time is running out to rescue Greece from the brink of bankruptcy and exit from the eurozone, ensuring that his country’s plight will be a pressing concern for G7 leaders as they gather in Bavaria.With the end of June now regarded as the last possible moment for striking a deal to release the €7.2bn in bailout funds that Greece needs to stay afloat, Tsipras struck a defiant tone in a statement before the country’s parliament, accusing Greece’s creditors of making “absurd” demands on his recession-hit country and insisting, “they won’t humiliate us”. Continue reading...
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Fitch commented on Friday that Greece’s decision to bundle four payments due to the International Monetary Fund this month highlights the extreme pressure on government funding.
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Here's a creative solution to the Greek debt crisis that European Commission President Jean-Claude Juncker probably hasn't considered: tapping the ...
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Energy Minister Panayiotis Lafazanis on Friday hit back angrily at comments by US energy official Amos Hochstein maintaining that the potential extension of Russia’s as yet unbuilt TurkStream gas pipeline through Greece could create a “problem area.”
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A long-planned scheme for the pedestrianization of Panepistimiou Street in central Athens appeared to have been finally scuppered on Friday after the Council of State upheld an appeal by the former head of the Technical Chamber of Greece, Ioannis Alavanos, and another 55 citizens expressing concerns about its potential environmental impact.
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The Greek prime minister spent half an hour in parliament putting sandbags around his main demand: an end to austerity. Alexis Tsipras said that he ...
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