The leftist Syriza Party won Greece's most recent parliamentary elections. The new Greek prime minister is Alexis Tsipras, and Finance Minister Yanis ...
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How the world sees Greece
Wednesday, January 28, 2015
Politics and Uncertainty Take NBG Under $1 and Pound the Greek ETF
STOCKS COLLAPSE INTO THE CLOSE: Here's What You Need To Know (DIA, SPY, QQQ, TLT, IWM, AAPL, NZD, USD)
Stocks finished sharply in the red on Wednesday after an ugly last hour of trade saw the averages go from roughly unchanged to lows of the day. The big event on Wednesday was the Fed's latest monetary policy statement, that saw the Fed largely keep its statement in tact from the December meeting. Markets were little changed after the Fed, but gave it up into the close as stocks had their second tough day in a row. First, the scoreboard: Dow: 17,191.4, -195.9, (-1.1%) S&P 500: 2,002.2, -27.4, (-1.4%) Nasdaq: 4,638, -43.5, (-0.9%) And now the, top stories on Wednesday: 1. The Fed will remain patient. In the Fed's latest monetary policy statement the Fed said that it would still be "patient" in looking to raise interest rates, adding that the economy still continues to expand at a "solid pace" as labor market conditions continue to improve. The Fed did acknowledge, however, that inflation expectations have fallen "substantially" and that "international" developments bear monitoring, giving the statement what could be seen as a dovish tilt, which was not accompanied by a press conference from Chair Yellen. 2. Also in central bank news, the Royal Bank of New Zealand kept rates unchanged, and said that the value of the kiwi dollar remains "unjustified," which sent the kiwi tumbling to a three-year low against the US dollar. 3. Crude oil got slammed again, falling more than 4% to as low as $44.20 a barrel as oil still cannot find a bottom. Data from the EIA on Wednesday showed that oil inventories are at their highest level in "at least 80 years." This followed new from the API on Tuesday that showed crude inventories rose by 13 million barrels last week. 4. S&P put Greece's credit rating on review with negative implications as the financial situation in Greece remains uncertain following the election of Syriza over the weekend. In a statement, S&P said its action, "reflects our view that some of the economic and budgetary policies advocated by the newly elected Greek government, led by the left-wing Syriza party, are incompatible with the policy framework agreed between the previous government and official creditors." 5. Layoffs at IBM have started. Business Insider's Julie Bort reports that layoffs at the company have started just a few days after the company flat-out denied a report that the company was going to lay off 100,000 employees. IBM has, however, said that it will take a restructuring charge equal to the lay off of thousands of workers. 6. Currency broker FXCM said on Wednesday that it would forgive 90% of its clients that incurred negative balances following the wild move in the Swiss franc that followed the Swiss National Bank's announcement that it would abandon its peg against the euro. These clients, however, represent less than half of the debit balances owed to the company, which received a $300 million lifeline from investment bank Jefferies following the SNB's decision and the fallout. 7. Apple reported a record quarter on Tuesday night, but on the company's earnings call analysts wanted to talk about one thing: the dollar. Apple said the dollar will continue to weigh on results, which is sort of a problem for the company. But also not quite. Don't Miss: MORGAN STANLEY: These Are The 9 Best Stocks In America Right Now »Join the conversation about this story »
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Investors Turn On Tsipras's Campaign to End Austerity in Greece
(Bloomberg) -- Investors gave their verdict on the new Greek government, selling the country's stocks and bonds in a signal to Prime Minister Alexis ...
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This Is Bill Gates’ Biggest Regret In Life
Bill Gates on Wednesday hosted his third AMA on Reddit. For those unfamiliar, an AMA is where someone goes on Reddit and allows the greater internet community to ask them anything. Someone asked what Gates’ biggest regret in life has been thus far. Gates’ answer was somewhat surprising, considering all the work he does around the globe: “I feel pretty stupid that I don’t know any foreign languages,” Gates said. “I took Latin and Greek in High School and got A's and I guess it helps my vocabulary but I wish I knew French or Arabic or Chinese. I keep hoping to get time to study one of these — probably French because it is the easiest.” Gates says he also tried Duolingo for awhile — that’s the app that offers free language instruction — but didn’t keep it up. Other tech leaders have managed to find time to learn new languages. Facebook CEO Mark Zuckerberg, for example, managed to teach himself Mandarin while running Facebook. His Chinese skills were even good enough to give a 30-minute Q&A in front of a Chinese university in October. NOW WATCH: Why Everyone Is So Excited About Ultra-HD TV OO.ready(function() { OO.Player.create('ooyalaplayer', 'B4ODZ0cjqfNvolsGDLNmpJIsxYW-Alx2'); });Please enable Javascript to watch this video SEE ALSO: BILL GATES: Elon Musk Is Right, We Should All Be Scared Of Artificial Intelligence Wiping Out Humanity Join the conversation about this story »
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Greece: Tough talk from Schäuble after Syriza win
Wait and see is the EU finance ministers' motto following the change of government in Greece. Debt cut? Not an option, says German Finance Minister Wolfgang Schäuble. DW’s Bernd Riegert reports from Brussels.
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Greece Wants a Debt Break. What About Its Poorer Neighbors?
Alexis Tsipras's first official act as Greece's new prime minister was to lay a small bouquet of roses at the site of a World War II memorial. It marks the ...
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Stanford Freshman Arrested For Allegedly Raping Unconscious Woman Outside Near Campus Frat Houses
A freshman Stanford University student-athlete has been arrested and is expected to be charged with five felonies after allegedly raping an intoxicated, unconscious woman last weekend on campus, the Los Angeles Times reports. Brock Turner — a 19-year-old former member of the Stanford swimming team — voluntarily withdrew from the university Tuesday, according to the LA Times. Stanford barred Turner from re-registering for classes and setting foot on campus, a Stanford spokesperson told The Times. The alleged rape took place in the early hours of Jan. 18, near the Kappa Alpha fraternity house, as well as a number of other chapters. As a freshman, Turner was not affiliated with Greek life, Stanford confirmed to the LA Times. The reported victim is not a Stanford student and was on campus for a party, according to the LA Times. Turner was reportedly spotted on top of an unconscious woman by two men on bicycles, who chased him down and tackled him, The San Francisco Chronicle reports. These two students restrained him while a third man called the police, according to The Chronicle. Turner faces the following five charges — rape of an intoxicated person, rape of an unconscious person, sexual penetration by a foreign object of an intoxicated woman, sexual penetration by a foreign object of an unconscious woman, and assault with intent to commit rape, according to student newspaper The Stanford Daily. Turner was released on a $150,000 bail. The former student is set to be arraigned next Monday and could face up to 10 years in prison if found guilty, The Stanford Daily reports. We have reached out to Brock Turner's lawyer Mike Armstrong and will update with any comment we receieve.SEE ALSO: Here's The Latest Way Elite Colleges Might Be Juicing Their Application Numbers Join the conversation about this story »
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A radical economic approach for Labour
The Syriza victory (Radical Greeks vow to see off age of austerity, 27 January) has lessons not only for the eurozone, but for the EU as a whole. The real question for all 28 countries now is: is austerity working? It is dragging the eurozone towards deflation and even in Germany annual growth is now falling below 1%. In the UK all three main parties, tragically, agree that deep spending cuts must continue to be made until the structural budget deficit is wiped out in 2019-20, even though wages have already fallen 8% in real terms, business investment has still not recovered, unemployment is still around 2 million, the trade deficit in manufactured goods at £110bn this year is now the largest in modern history, and household debt is now over £2 trillion and rising. This is not recovery, it’s semi-permanent stagnation.It’s not even as though the deficit is being reduced by these savage cuts. Because shrinking incomes have now significantly cut government tax revenues, the UK deficit, which is still nearly £100bn, is likely to rise, not fall, in 2014-15 and in future years. Since cutting the deficit has been made the centrepiece of economic policy, why carry on with policies that are manifestly failing to deliver this objective, while wreaking havoc in the lives of a third of the population? Continue reading...
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Greece’s new young radicals sweep away age of austerity
From minimum wage to prescriptions, Alexis Tsipras is making good his promises to voters in startling fashionOne by one they were rolled back, blitzkrieg-style, mercilessly, ruthlessly, with rat-a-tat efficiency. First the barricades came down outside the Greek parliament. Then it was announced that privatisation schemes would be halted and pensions reinstated. And then came the news of the reintroduction of the €751 monthly minimum wage. And all before Greece’s new prime minister, the radical leftwinger Alexis Tsipras, had got his first cabinet meeting under way.After that, ministers announced more measures: the scrapping of fees for prescriptions and hospital visits, the restoration of collective work agreements, the rehiring of workers laid off in the public sector, the granting of citizenship to migrant children born and raised in Greece. On his first day in office – barely 48 hours after storming to power – Tsipras got to work. The biting austerity his Syriza party had fought so long to annul now belonged to the past for this was the beginning not of a new chapter, but a page, for the country long on the frontline of the euro crisis. Related: Alexis Tsipras begins rolling back Greek austerity policies Related: Yanis Varoufakis: maverick economist with Greece’s fate in his hands Continue reading...
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Greek cleaning ladies claim victory in jobs protest
… that alarms Greece’s creditors, who say that one of Greece’s … do good things for the Greek people. He had sympathy for …
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Greek stocks collapse further 9 per cent
GREEK markets have crumbled at the close with the aftermath of Syriza’s election victory continuing to shake investors’ confidence in the country. Stocks and bonds in Greece have been hit hard by fears that the anti-austerity party could derail the ...
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| READ THE ORIGINAL POST AT www.theaustralian.com.au |
President Obama calls PM Tsipras to congratulate and offer support
US President Barack Obama called Prime Minister Alexis Tsipras Wednesday afternoon to congratulate him on his election victory. “The United States will stand to help Greek government to escape the politics of austerity,” the US President assured the new Prime Minister of Greece and that “this support will be expressed in […]
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Yes, Europe will give in to Greece—but it won't admit it
The coming face-off between Greece's European creditors and the country's new left-wing government is painted as an epic struggle between ...
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New leader vows that Greece will no longer submit to eurozone demands
At the first cabinet meeting since his election on Sunday, Greece's new prime minister said that his government's top priority is negotiating with ...
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Schulz: New Greek gov’t won’t survive long if says ‘No’ to everything
With a comment like “No Greek drama and No Greek Drachma” Martin Schulz makes an analysis on political developments in Greece
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S&P places Greece on negative CreditWatch
S&P is watching Greece. Ratings agency S&P just put Greece's debt ratings on "CreditWatch with negative implications." In a release, S&P said, "The CreditWatch placement reflects our view that some of the economic and budgetary policies advocated by the newly elected Greek ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
Greek banks suffer most in stock market fall
The Athens Stock Exchange fell 9.24% Wednesday, with Greek banks bearing the brunt of investors' flight. The banking index dropped 26.67% in what has been so-far the culmination of a three-day drop after radical left Syriza's victory in last Sunday's election. Among ...
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The Guardian view on Greece’s debt relief: compromise is the way to go
Europe could be torn apart by divergent perspectives on debtIf what counts is what works, then the Greeks did the right thing by rejecting austerity at the ballot box. After years in which the servicing of debts has been pursued to the exclusion of every other objective, it has plainly not worked. A quarter of the economy has disappeared and half of young citizens are workless. To cap it all, the debt burden itself did not fall but instead grew to reach 175% of GDP. If that doesn’t constitute failure, then what would? To have kept doing the same thing, while expecting different results, would have been madness.But in Amsterdam, Berlin or Helsinki, the demands of Alexis Tsipras for a “viable, fair, mutually beneficial” way out of the debt crisis may also seem to express delusional disregard for experience. Greece has already received two big bailouts. If its new prime minister is now to be allowed to wriggle free of commitments given by his country, then what reason will it ever have to learn to live without the begging bowl? And why should other indebted states do anything other than demand similar favourable terms, or themselves elect populists promising to make unpleasant obligations go away? Writedowns for Greece might be affordable because of its small size, but the sums would soon change if accommodations had to be reached with Sinn Féin in Ireland and Podemos in Spain. Continue reading...
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Eurozone stalled by the toxic politics of the current climate
Mark Carney’s prescription of how to deal with the euro mess may take another lost decade In a speech that delicately avoided mention of Greece or Germany, Mark Carney summed up what is wrong with the eurozone: it is in a debt trap and escape is only possible if its members start sharing some risks.The governor of the Bank of England is surely correct on the facts. Low growth is adding to the debt burden. Fear of stagnation is holding back investment. Quantitative easing, though welcome, can’t eliminate risks. Too many countries are trying to improve their competitiveness against each other, doing little to improve aggregate demand. Continue reading...
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New Greek FinMin Varoufakis: Growth Doesn’t Mean Porsche Cayennes
A chance to preface the policy he intents to apply as Greece’s new Finance Minister had earlier today Giannis Varoufakis in the ceremony assuming his duties. While in the Greek government’s financial headquarters, Varoufakis exchanged opinions with his predecessor, Gikas Hardouvelis, and referred to the “frugal” lifestyle of the past that made Greeks creative and kept them away from unnecessary loans and credit cards. “We are turning page. A massive toxic mistake was born in this building,” Varoufakis underlined, referring to the largest loan in human history and the Greek debt. “We knew that the old policy will not have a happy ending, but I am sure that Mr. Hardouvelis is not responsible for it. The program had already been written since 2010,” he said. Furthermore, he mentioned the money European people lend to Greece, saying that “Slovaks gave money, which were apparently thrown in a black hole. This will not happen again.” “We are in favor of a frugal lifestyle. What is the necessity of so many Porsche Cayennes in the narrow streets of Athens? Greeks were more creative when they lived frugally, without loans and credit cards,” he highlighted. During the handover ceremony, Varoufakis said the government will pursue a new agreement with the Troika of Greece’s creditors, to replace the old one. In the meantime, a temporary agreement must be made and this is the Greek government’s first priority, he explained. “We must deconstruct the narrative of a ‘duel’ between Greece and its creditors, in order to deconstruct the climate of insecurity,” he concluded.
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Former IMF Official: Greek Debt Must be Cut by 50%
Former International Monetary Fund (IMF) European Department Director until 2014 and supervisor of Poul Thomsen, Reza Moghadam, requested the write-off of half of Greece’s debt. In a letter to The Financial Times on January 26, the current Vice Chairman for Global Capital Markets at Morgan Stanley, admitted that both Greek bailout programs of 2010 and 2012 were designed based on optimistic assumptions on growth, inflation, fiscal efforts and social cohesion. The former IMF official did not hesitate to assume his own share of responsibility, as he was part of the Troika negotiation team between the years 2010 and 2014. Commenting on Greece’s future, Moghadam made clear that a Grexit is in nobody’s interest. On one hand Greece would encounter a new drachma, while on the other hand such a development would lead markets in the reevaluation of other week Eurozone economies. At the same time, he added, the Greek debt would be even less sustainable if it is to be paid in drachmas. Furthermore, as he explained, despite the fiscal reform and greatest restructuring of private debt in history, the debt remains excessive compared to projections on fiscal surpluses, which directly affect social cohesion and thus any prospects of a financial recovery. According to Moghadam, the recovery is impossible on a political level, due to blocked investments and mistrust, created by the debt. Taking the above in account, the former IMF official proposed a generous haircut in exchange for reforms. Should the debt be less than 110% of GDP, as agreed in 2012, then it will become sustainable. What is needed, Moghadam concluded, is for Europe to overcome its taboos on debt relief.
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President Obama Congratulates New Greek PM Alexis Tsipras
On Wednesday night U.S. President Barack Obama congratulated new Greek Prime Minister Alexis Tsipras on his victory over the phone. According to sources from the government headquarters in Athens, Greece, the U.S. President declared his support on European efforts to leave austerity policies behind in order to enhance growth, while he promised a cooperation between the Finance Ministers on the matter. Furthermore, Obama advised Tsipras to rest after the arduous election effort in order to prevent getting white hair like his. Tsipras responded that “It is difficult, as there are many obligations ahead.”
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Ninety-Year-Old Greek Man Buried With €300,000
A 90-year-old man from an Ancient Olympia municipality village in southern Greece was buried with his favorite pillow that contained 300,000 euros. The old man had asked as one of his last wishes to be buried with his favorite pillow, according to local iliaoikonomia.gr. The 90-year-old had sensed that his time was approaching and went to the bank where he withdrew all the money from the account he shared with his wife. The account balance was approximately 300,000 euros. Then, apparently, he hid the whole amount inside his favorite pillow. He told his unsuspecting wife that when his time came, he wanted to take the pillow with him to his last “residence.” The man passed away recently and his wife granted him his wish to be buried with the pillow. The burial ceremony took place at the village cemetery in the presence of relatives and friends, since the couple did not have any children. When his wife went to the bank for a withdrawal, she was informed that the account was empty and that the deceased had withdrawn all the funds. The woman searched in the house but she could not find the money. Then her mind went to the last wish of her late husband to be buried with his favorite pillow. Along with relatives, she went to the authorities and asked for permission to exhume the body of the deceased. When the permission was granted and the coffin was opened, the woman found the 300,000 euros inside the pillow. Apparently, the old man did not believe in the old Greek saying that you cannot take anything with you in the afterworld.
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5.0-Magnitude Earthquake Shakes Crete
A 5.0-magnitude earthquake has hit the island of Crete, Greece, on Wednesday late afternoon, according to the European Mediterranean Seismological Centre (EMSC). The epicenter was 80km south of Crete. Earthquakes have historically caused widespread damage across central and southern Greece, Cyprus, Sicily and other neighboring regions. In January 2014, a series of strong earthquakes on the island of Kefalonia damaged hundreds of homes and injured more than a dozen people.
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Syriza links with Russia spark alarm
Greek energy minister speaks out against Ukraine sanctions
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S&P To Greece: We're Watching You (GREK)
S&P is watching Greece. Ratings agency S&P just put Greece's debt ratings on "CreditWatch with negative implications." In a release, S&P said, "The CreditWatch placement reflects our view that some of the economic and budgetary policies advocated by the newly elected Greek government, led by the left-wing Syriza party, are incompatible with the policy framework agreed between the previous government and official creditors. S&P added that, "In our opinion, if the new Greek government fails to agree with official creditors on further financial support, this would further weaken Greece's creditworthiness." This announcement from S&P follows what has been a terrible week for Greek stocks, and more specifically Greek bank stocks. On Wednesday, each of Greece's four largest banks dropped by at least 20%. The main problem here is that Greece's banks have largely been funded by a lifeline from the ECB, though this comes with some conditions that the newly elected Syriza government isn't keen to stick to. And more broadly, Syriza's reform promises made during the campaign have S&P concerned. "In its pre-election program," S&P writes, "Syriza also envisaged, among others, an increase in the minimum wage, the elimination of the property tax, and the easing of the budget primary surplus target. In our opinion, these policy proposals are not in line with the current Memorandum of Understanding agreed between the previous Greek government and official creditors." Read S&P's full comment here »Join the conversation about this story »
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EU officials fly in as Greeks start cancelling austerity policies
Less than 36 hours after being sworn in as Greece’s new Prime Minister, Alexis Tsipras and his cabinet got down to business today, spooking markets and raising eyebrows across Europe by cancelling bailout policies.
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Shiller sees Greece, Russia investment opportunities
Greece is once again facing major economic uncertainty after the anti-austerity Syriza Party won parliamentary elections on Sunday. The Athens stock ...
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Greek government objects to EU’s sanctions against Russia — Foreign Ministry
EU rejected Athens-proposed amendments to the text of a declaration, in which the heads of EU states and governments warned Moscow of new sanctions
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How Pope Francis Is Carrying Out a Revolution
MANAGUA - In March of 2013, I was asked in an interview: What did I think of an Argentine pope? It was a surprise for me that they had not elected a European pope and that it was a cardinal I had known nothing about. The existing cardinals had been named bishops by John Paul II and Benedict XVI, and they were conservative and reactionary. I did not expect anything new from this papal election. In fact, I did not have any interest in it. But from the moment the new pope went out on his balcony, I noticed changes. He came out wearing a simple white robe, rejecting other papal garb with golden adornments and fabric. On the balcony, before giving the pope's traditional blessing, he bowed before the multitude, asking for their blessing. Instead of one of the traditional papal names, he took Francis. Leonardo Boff was very right when he said later it was not simply a name, but a life project he chose. And in this case, it was not just a new pope, but a new project for the church. We are seeing a true revolution in the Vatican. Pope Francis does not want to live like a pope. He has refused to occupy the pontiff's palace, with its 14 rooms. He has rejected the popemobile. He talks directly to people on the telephone. He uses simple and clear language. He does not want to be called pope, but simply bishop (the Bishop of Rome). Pope Francis has not talked about liberation theology that I know of. But liberation theology is not something one believes in -- it's something one practices. I think the name "liberation theology" is not as strong as it could be. It would be better understood as "revolutionary theology." This theology is the true theology of the Gospel, which comes from a Greek word that means "good news" and "announce the good news." The meaning Jesus gave to it was good news for the poor, for their liberation. Which is the same as revolution. Or changing the world. Turning the world upside down. Or better put, righting the world, because right now it is upside down. Under the pontiffs Juan Pablo II and Benedict XVI, the bishops and priests of liberation theology were replaced by conservative elements from the far right. Everything that had to do with this theology was suppressed. At the same time, the U.S. government fought this theology by appealing to fundamentalists who preached an individualistic and conservative gospel. They fought the liberation guerrilla groups with counter-intelligence forces and a most cruel repression that created an immense multitude of martyrs. In the so-called Santa Fe Document, under the title "A New Latin American Policy for the 1980s," President Reagan was advised to combat the liberation movements by promoting U.S. fundamentalist churches in Latin America. In 1999, the School of the Americas, which trained soldiers and gave them classes in repression and torture, declared that liberation theology had been defeated with the help of the U.S. Army. During John Paul's second visit to Nicaragua, journalists on an Alitalia flight asked him about liberation theology, and the Pope said it was no longer a danger because communism had been defeated. But from the depths of the Amazon, Bishop Casaldaliga said: "While there are poor people, there will be liberation theology." For me, the election of this new pope is like a miracle. Pope Francis is carrying out a revolution in the Vatican. It will also be a revolution in the world, setting it right because it is upside down. The revolution of Jesus of Nazareth: The last will be first, and the first will be last.
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Greece-EU clash spreads to Russia sanctions
Greece has created a new headache for the EU by questioning sanctions against Russia over Ukraine but is unlikely to block them for fear of harming its own debt negotiations, analysts and sources say. New anti-austerity Prime Minister Alexis Tsipras added a foreign policy row to the economic stand-off with Brussels on Tuesday when he complained that Greece had not been consulted about an EU ...
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Obama, Tsipras have phone conversation
Greek media report that US President Barack Obama and new Greek prime minister Alexis Tsipras had a phone conversation Wednesday evening. According to TV channel STAR, Obama told Tsipras that Europe must steer away from austerity and ...
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| READ THE ORIGINAL POST AT en.enikos.gr |
Greece makes good on promises as Europe huffs and puffs
Newly elected Greek Prime Minister Tsipras has quickly moved to implement his campaign promises to the Greek people. For European leaders, that is cause for serious concern.
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| READ THE ORIGINAL POST AT www.dw.de |
Greek debt solution 'a priority'
Greece's new prime minister says his government's top priorities are negotiating with creditors to resolve the country's debt problems and dealing with what he describes as a humanitarian crisis. Speaking in the new government's first cabinet meeting ...
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| READ THE ORIGINAL POST AT www.independent.ie |
Tsipras says Greece will not default on debts
The new Greek Prime Minister Alexis Tsipras has said his country will not default on its debts. He was addressing the first meeting of the new Greek cabinet after the general election there on Sunday. Mr Tsipras told his colleagues that the new government ...
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Europe stocks dip; Greek shares extend retreat
European shares dipped in early trading on Wednesday, with Greek stocks extending their sell-off sparked by the victory of leftwing Syriza party in Sunday's election. Shares of Greek utility PPC and Greece's biggest port, Piraeus Port Authority, fell by 6 ...
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| READ THE ORIGINAL POST AT www.independent.ie |
Greek banks plunge as new government challenges bailout
Greece's banks were slammed Wednesday as the country's new anti-austerity government abandoned commitments made to its international lenders. Officials from Syriza, the party that won power in Sunday's elections, said they would halt the privatizations of ...
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| READ THE ORIGINAL POST AT money.cnn.com |
Greek banks extend slide to peg back European shares
LONDON/PARIS, Jan 28 (Reuters) - European shares dipped on Wednesday, with Greek stocks extending the sell-off sparked by anti-bailout party Syriza's victory in Sunday's election. The combined value of the top four Greek listed banks, Alpha Bank, Piraeus Bank, National Bank of Greece , Eurobank Ergasias fell to about 12 billion euros ($13.6 billion).
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| READ THE ORIGINAL POST AT finance.yahoo.com |
Greek PM keen to avoid ‘antagonism’ with bailout creditors
Greek prime minister Alexis Tsipras and his finance minister have pledged to avoid a standoff with creditors but say they still intend to roll back key parts of the country’s bailout. Fears about the approach to be taken by the new Syriza-led government ...
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| READ THE ORIGINAL POST AT www.irishtimes.com |
Greece Moves Quickly to Roll Back Austerity
ATHENS—Greece’s new government on Wednesday moved quickly to set an agenda that would include launching fresh talks with creditors over the country’s debt burden, vowing to roll back previous policies ranging from privatizations to recent layoffs in ...
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| READ THE ORIGINAL POST AT www.wsj.com |
Greece, religion and geopolitics A hint of civilisations clashing
On his first day in office, prime minister Alexis Tsipras met the Russian ambassador, and then distanced Greece from an EU statement which protested ...
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| READ THE ORIGINAL POST AT www.economist.com |
Greek Markets Continue to Slide
Greek markets continued to wilt Wednesday in the wake of Syriza’s election victory. Government bonds were hit hard by fears that the antiausterity party could derail the terms of its financial support from its European partners. Short-term bonds, a gauge ...
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| READ THE ORIGINAL POST AT www.marketwatch.com |
Greek PM Tsipras freezes privatizations, markets tumble
By Lefteris Papadimas and Renee Maltezou ATHENS (Reuters) - Leftwing Greek Prime Minister Alexis Tsipras threw down an open challenge to international creditors on Wednesday by halting privatization plans agreed under the country's bailout deal, prompting a third day of heavy losses on financial markets. A swift series of announcements signaled the newly installed government would stand by its ...
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Greek PM Tsipras names anti-austerity cabinet, port sale halted
By Lefteris Papadimas and George Georgiopoulos ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras named a cabinet of anti-austerity veterans and halted privatization of Greece's biggest port on Tuesday, signaling he aims to stick to election pledges despite warning shots from the euro zone and financial markets. Greek markets endured a second day of turmoil, with bank shares diving and ...
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| READ THE ORIGINAL POST AT news.yahoo.com |
'Greece-EU clash over anti-Russia statement: others may follow Athens' suit'
Greece's discontent with the EU over an anti-Russian statement may give new momentum to other European countries, and make it easier for them to ...
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| READ THE ORIGINAL POST AT rt.com |
UPDATE 1-German minister warns Greece against breaking agreements
BERLIN, Jan 28 (Reuters) - German Economy Minister Sigmar Gabriel told Greece on Wednesday that it needed to stick to its agreements with ...
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Greece markets hit by debt default fears
In the two sessions since Sunday's election, banks have seen 23% of their value wiped off, with investors fretting that the possibility of Greece leaving ...
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| READ THE ORIGINAL POST AT www.bbc.com |
Alexis Tsipras, Greek Premier, Says He'll Move Quickly to Negotiate Debt Relief
ATHENS — Prime Minister Alexis Tsipras of Greece told his new cabinet on Wednesday that he would move swiftly to negotiate debt relief with ...
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| READ THE ORIGINAL POST AT www.nytimes.com |
Greece's mandate: only Germany can rescue Syriza from its rhetoric
We'll be hearing a lot more of Varoufakis who sounds clever and funny; he likened Greece's treatment to waterboarding. Athens can't stay in severe ...
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| READ THE ORIGINAL POST AT www.theguardian.com |
Tanking markets send dire warning to Greece's new government
Greece's new government came to power on a promise of a clean break with capitalist orthodoxy. Two days into the experiment, capital is making a ...
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| READ THE ORIGINAL POST AT fortune.com |
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