How the world sees Greece
Greece’s game of chicken with its bailout creditors just got very risky. On Thursday, the International Monetary Fund team that was negotiating with Greece in Brussels hit the road after failing to make any progress on a new loan package as Greece runs ...
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The International Monetary Fund dramatically walked out of the Greek creditor negotiations and the president of the European Council has issued a stark warning to Athens that “there is no more time for gambling”.
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NEW YORK (Reuters) - Global equity markets rose on Thursday on optimism over still testy Greek debt talks and on strong U.S. retail sales, which lifted the U.S. dollar and bolstered expectations the Federal Reserve will raise interest rates this year.
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Greece’s creditors on Thursday issued their starkest warnings to Athens since the start of a five-month stand-off over the country’s soon-to-expire €172bn bailout, with the International Monetary Fund withdrawing its negotiating team and European leaders saying the time for compromise ...
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International creditors sent Greek Prime Minister Alexis Tsipras home from a summit Thursday with a clear message: swiftly tone down your demands in the bailout talks over the next week or face financial ruin. The International Monetary Fund took the ...
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Stocks finished higher for a second day, but ultimately closed little changed as the the dollar climbed, and bonds paused a sell off that had sent yields to the highest levels of the year earlier this week. First, the scoreboard: Dow: 18,032.10, +31.70, (0.18%) S&P 500: 2,108.01, +2.81, (0.13%) Nasdaq: 5,080.44, +3.75, (0.07%) And now, the top stories on Thursday: Retail sales beat expectations in May and posted the biggest gain in 14 months. Sales rose 1.2% in May and 1% when excluding auto sales. Excluding the gas and auto category, retail sales rose 0.7%, better than expected. Sales rose 2.7% year-over-year, and are up 2.1% over the last three months versus the same period last year. Some of the bigger increases came from spending at gas stations, clothing stores, and bars and restaurants. In a client note after the report, Capital Economics' Paul Ashworth wrote, "Together with the more upbeat news from the first-quarter Quarterly Services Survey, released yesterday, the upward revisions to retail sales mean that first-quarter consumption growth will be revised higher. Indeed, it is now possible that GDP didn't actually contract in the first quarter." Initial jobless claims rose to 279,000 last week, more than the expectation for 275,000. This marked the 14th straight week that unemployment claims came in below 300,000. The four-week moving average of claims stands at 278,750 — up from 274,750 in the prior week. US import prices rose 1.3% in May, the first increase in 10 months. The gain was led by a 12.7% jump in petroleum prices, the largest increase since June 2009. In a client note, Barclays economists wrote, "The stage is now set for a gradual near-term rebound in domestic inflation that should support confidence among FOMC members that inflation will indeed rise toward their 2% target over the medium term." US household net worth rose by $1.63 trillion to $84.9 trillion in the first quarter, according to the Federal Reserve's latest Flow of Funds report. That's a 2.2% jump year-over-year. Household debt rose 2.2% in the quarter, consumer credit rose 5.6%, and mortgage debt excluding charge-offs fell 0.3% at an annual rate. The IMF pulled out its team negotiating with Greece in Brussels. It said "no progress" had been made on its "major differences" with the Greek government, according to Bloomberg. Stocks fell slightly on the news, but the reaction was stronger in European markets. Germany's Dax fell over 100 points, and the 10-year German bund yield fell to as low as 0.875%, after crossing 1% earlier Thursday. In a note Wednesday, Credit Suisse analysts wrote, "we think there is a 60% to 70% chance that we end up in an equity bubble in the medium term, albeit with the inevitable road bumps along the way." They don't think the bubble has already formed, though. They note that there hasn't been a 10% correction in stocks for a while. Loose monetary policy, lower oil prices, and increased retail buying of stocks could be catalysts in some way. Rupert Murdoch is planning to step down as CEO of 21st Century Fox. CNBC reports via multiple sources close to the Murdoch family that the 84-year-old will hand the title to his son James. Lachlan, Murdoch's other son, is expected to serve as executive co-chairman. An announcement is expected soon, according to CNBC. Shares of 21st Century Fox were lower but little changed for much of the trading day. Lululemon founder Chip Wilson may dump his entire stake in the company, according to a regulatory filing submitted today. Reuters reports, citing sources familiar with the situation, that Wilson could invest up to $300 million in the expansion and rollout of Kit & Ace stores in the next few years. Wilson left the board earlier this year after disputes with other directors. Lululemon shares slumped by up to 2%. Shares of Krispy Kreme Doughnuts rallied by up to 17%, the most in two years, after the company reported strong first quarter sales. Business Insider's Ashley Lutz writes that it's a sign that modern consumers are saying they want healthier options, but are making the opposite choices. Same-store sales jumped 5.2%, crushing the estimate for 1.4%, and adjusted earnings per share of 24 cents beat the forecast for 22 cents, according to Bloomberg. DON'T MISS: IT'S OFFICIAL: America is back! »Join the conversation about this story » NOW WATCH: WHERE ARE THEY NOW? The original 1993 'Jurassic Park' cast today
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IMF says "major differences" remain with Greece. * Athens ATG index ended up 8.2 pct before IMF comments. * Templeton's Mobius still holding onto ...
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Whether or not Greece's principal creditors, the Troika—Germany plus the other Eurozone countries, the European Central Bank, and the IMF—put yet ...
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Some schools in the Greece Central School District were temporarily put on 'lock out' — meaning the schools closely control who can be let into the ...
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Tempers flare as bailout breakthrough seems as far away as ever
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Eleventh-hour talks in Brussels between Greek Prime Minister Alexis Tsipras and European Commission chief Jean-Claude Juncker meanwhile broke ...
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Archbishop Ieronymos, the head of the Church of Greece, on Thursday failed to back a government bill giving greater rights to gay couples, although he did not directly criticize the draft law either.
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Once again, the Greek bourse enjoyed a rally on short-lived optimism on Thursday. However, hopes were dashed by the International Monetary Fund soon after the end of trade.
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Greek Prime Minister Alexis Tsipras held talks with European Commission head Jean-Claude Juncker in Brussels on Thursday afternoon but little ...
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By pulling its negotiators out of talks in Brussels, the IMF is asking Greece to decide whether it can afford to carry on haggling“You’ve got to ask yourself one question. Do I feel lucky? Well, do ya, punk?” The lines spoken by Clint Eastwood in Dirty Harry sprang to mind when the International Monetary Fund (IMF) announced that it had called its Greek negotiating team home from talks in Brussels.The IMF’s message was short and brutal. There were still major differences between Greece and its creditors. There was no progress in narrowing those differences. The two sides were well away from an agreement. Related: IMF walks out of Greece bailout talks Continue reading...
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The International Monetary Fund announced bailout talks with Greece stalled amid a failure to make progress, risking a default from Athens and exit ...
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An agreement between Greece and its international creditors is still possible and depends on political will, European Commission Vice-President Valdis Dombrovskis said on Thursday. "Negotiations are continuing on a technical level," Dombrovskis said at a joint news conference in ...
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The International Monetary Fund (IMF) announced on Thursday that the talks on a possible new Greek bailout have not progressed much as differences remained. The statement came hours after Greek Prime Minister Alexis Tsipras held talks with German Chancellor Angela Merkel and French President Francois Hollande. IMF spokesman Gerry Rice said that major differences remained between Greece and its international creditors in most key areas, daily Kathimerini reports. Rice added that the sides were not close to an agreement as there has been no recent progress in narrowing the differences between them. Greece is expecting to be granted a new EUR 7.2 B bailout, which would allow the country to continue paying its debts and domestic government obligations. In exchange the country has to fulfil certain reforms and austerity measures, which has become the bone of contention between the government in Athens and its creditors. According to Rice, the discussions were focused on pensions, taxation and financing, with the country’s generous pensions posing a key challenge. In his words, since wages and pensions represented 80 % of Greek total primary spending, it would not be possible for the country to achieve its medium-term fiscal targets without reforms, especially of pensions. Although the Greek pension system has been identified as unsustainable by all sides, the IMF did not want to deprive the most vulnerable Greeks of income. Rice assured that the basic pensions targeting the most vulnerable groups were protected and protection was sought for the lowest income pensioners. The IMF spokesman also highlighted the need for improvements in the tax system, especially in collecting revenues from Value Added Tax (VAT). According to him, the problems were due to the VAT structure being highly complex and allowing for significant leakage in the system.
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"The Simpsons" is about to return for its 27th season, a feat that's very rare in the TV industry, even for an animated series. On its way to 625 episodes — more than "Family Guy" and "South Park" combined — "Simpsons" executive producer Al Jean told Variety that she thinks the show stays fresh by keeping up with current events, letting the real world serve up the story ideas. We just had this thing a year ago where we did a World Cup parody. We were reading about the corruption in Greece. We had a FIFA executive get arrested, and now this week it’s gone online and gotten half a million views. There are things that happen in the world. We can’t do daily humor like “The Daily Show,” but there’s always insane stuff going in the world that you can’t imagine. I still think back, the Vice President shot a guy in the face — and the guy apologized. That happened! If we put it in a show people would go, “That’s ridiculous!” Speaking of current events, Jean is thrilled that family patriarch Homer Simpson has another crack at voting in a presidential election. "We’re definitely going to have Homer vote in 2016," Jean told Variety. "One aspect of the pickup that made me happy is that Homer can vote again. He voted for Romney in 2012 because he invented Obamacare. He tried to vote for Obama in 2008 but all his votes went to McCain." He added, "We’re not sure who the candidates are yet, but whatever he wants it’s not going to happen." "The Simpsons" airs Sundays at 8 p.m. on Fox.SEE ALSO: The voice actor behind Ned Flanders, Mr. Burns, Skinner, and many more characters just quit 'The Simpsons' SEE ALSO: TV networks just released their fall schedules — here's where to watch what Join the conversation about this story » NOW WATCH: 11 Really Bad Movies Based On Cartoons Everyone Loves
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Greek Food Fest returns June 11, 2015 in Wilson Borough. Annunciation Greek Orthodox Church will dish up greek favorites like gyros, pastitsio, ...
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The Greek government is to submit a new finalized plan of reforms by the start of next week so that it could be coordinated and adopted at the Eurogroup’s meeting on June 18
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The IMF negotiating team has left the table in Brussels and heading home to the US blaming Greece’s lack of meaningful compromise in the bailout talks Continue reading...
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The EU's top leaders warned Greek Prime Minister Alexis Tsipras Thursday to stop "gambling" and reach a desperately needed debt deal to prevent a default and crashing out of the euro. Video provided by AFP
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Greece's worrisome high unemployment rate is a stark reminder of the “alarming situation” in the country, with the crisis increasingly threatening to hit ...
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Conflicting narratives of debt crisis are schematic but contain elements of truth
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Given that we're all supposed to be worrying about how the final stages of Greece's second bailout are going to work, with the then delightful prospect ...
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In this summer of discontent for Greece, tourism is needed more than ever to be the economy's lifeboat. The industry contributes 17 percent to an ...
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The International Monetary Fund dramatically raised the stakes in Greece's stalled debt talks on Thursday, announcing that its delegation had broken ...
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The IMF has halted Greek debt negotiations, citing "lack of progress" as a reason.
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THE International Monetary Fund dramatically raised the stakes in Greece's stalled debt talks on Thursday, announcing that its delegation had broken off negotiations in Brussels and flown home because of major differences with Athens. The surprise IMF ...
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German Chancellor Angela Merkel faces growing dissent within her conservative party over efforts to keep Greece in the eurozone after months of drawn-out, quarrelsome debt talks.
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Greece is acting like an amateur gambler in Las Vegas who just keeps playing and losing, hoping that the next toss of the dice won't be Snake Eyes. The post World Press Review: Greece Keeps Rolling The Dice appeared first on The National Herald.
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Greek officials said privately they expected the talks to take place. Merkel said it was up to Tsipras to request a meeting with her and Hollande.
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The International Monetary Fund has dramatically raised the stakes in Greece’s stalled debt talks, announcing that its delegation had broken off negotiations in Brussels and flown home because of major differences with Athens. The surprise IMF ...
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LONDON – The good news is that a Greek default, which has become more likely after Prime Minister Alexis Tsipras' provocative rejection of what he ...
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WASHINGTON/BRUSSELS (Reuters) - The International Monetary Fund dramatically raised the stakes in Greece's stalled debt talks on Thursday, announcing that its delegation had broken off negotiations in Brussels and flown home because of major differences with Athens.
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An agreement between Greece and its international creditors is still possible and depends on political will, European Vice-President Valdis Dombrovskis said on Thursday. "Negotiations are continuing on a technical level," Dombrovskis said at a joint news conference in Madrid with Spanish Economy Minister Luis De Guindos. "Progress is possible and (an) agreement is possible.
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Greece's international creditors raise the pressure on Alexis Tsipras's government, as IMF negotiators leave talks in Brussels citing 'major differences'.
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Source: blogs.barrons.com - Thursday, June 11, 2015 Greek stocks are in negative territory following a report that the IMF is halting Greek debt negotiations. The International Monetary Fund is yanking its team negotiating with Greece on a bailout. Agence France-Presse/Getty Images Greek Prime Minister Alexis Tsipras, left. The Wall Street Journal reports: “There are major differences between us in most key areas,” said IMF spokesman Gerry Rice. “There has been no progress in narrowing these differences recently. Thus, we are well away from an agreement.” The iShares FTSE Greek 20 ETF ( GREK ) is now down fractionally, erasing a 3% gain in earlier trading. U.S.-traded shares of National Bank of Greece ( NBG ) and Alpha Bank ( ALBKY ) were also paring gains. Updates and reaction forthcoming. See our post, Greece: Headlines On Possible Debt Agreement? , with links to stories on the European Central Bank’s overnight increase in the amount of money Greek banks can borrow from their own central bank. A table in the The Wall Street Journal story notes that Greece must pay EUR 5.2 billion ($5.83 billion) to short-term Treasury bill holders through June 19 , starting with a payment Friday.All Related
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BRUSSELS (Reuters) - European Commission President Jean-Claude Juncker explained to Greek Prime Minister Alexis Tsipras a possible way to reach a deal with its creditor institutions, an EU official said. Juncker met Tsipras for about two hours on Thursday afternoon. "President Juncker explained a possible process with the three institutions that would still allow finding mutually acceptance solutions in time. They agreed to stay in close contact over the coming days," the EU official said. (Reporting by Alastair Macdonald, writing by Philip Blenkinsop)
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The Greek government is ready for a deal with creditors soon and wants to step up negotiations on outstanding issues like the budget and debt restructuring, a spokesman said on Thursday after the IMF said its team had left talks in Brussels. "The Greek delegation, as agreed, is ready to intensify deliberations in order to conclude a deal soon, even in the coming days," Gabriel Sakellaridis said in a statement.
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BRUSSELS (Reuters) - European Union officials described talks between EU chief executive Jean-Claude Juncker and Greek Prime Minister Alexis Tsipras which ended earlier on Thursday without agreement as a "last attempt" to reach a debt deal. Asked about concerns for the process raised by the departure of IMF and Greek negotiators from Brussels, an EU diplomat said: "If the process was working properly the president would not have had to have a meeting with Tsipras today. President Juncker made a last attempt to make a deal possible." (Reporting by Alastair Macdonald; Editing by Adrian Croft)
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European stocks pared gains Thursday after the International Monetary Fund said it had stopped bailout talks with Greece. The Stoxx Europe 600 ...
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The creditors — the IMF and Greece's fellow eurozone states — want the country to commit to new economic reforms before they pay out another 7.2 ...
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(Reuters) - U.S. stocks came off session highs on Thursday after the International Monetary Fund quit bailout talks with Greece, saying 'major differences' remained over an agreement to save the country from bankruptcy.
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The greek government has proposed to its creditors to cut, by a combination of methods, the country's debt burden by about 40%, as Greek Interior Minister Nikos Voutsis said on Action 24. Video in Greek
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A deal is close to being finalised to prevent Greece from defaulting on its debt, sources have told Al Jazeera. Alexis Tsipras, Greek prime minister, is to meet Jean-Claude Juncker, European Commission chief, on Thursday after he agreed with the leaders ...
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The International Monetary Fund said there were “major differences” with Athens, which faces mounting pressure with debts coming due this month.
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Greek stocks had climbed by more than 8pc before the IMF statement was released. Gerry Rice, a spokesman for the IMF, said: "The ball is very much ...
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The first time I used Greek yogurt several years ago, it was as a substitute for sour cream. But what started as a topper for baked potatoes and fajitas ...
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