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(REUTERS) Sceptical euro zone finance ministers demanded on Saturday (July 11) that Greece go beyond painful austerity measures accepted by Prime Minister Alexis Tsipras if he wants them to open negotiations on a third bailout for his bankrupt country to keep it in the euro. The ministers meeting in Brussels postponed until Sunday a decision on whether to recommend starting talks on a new loan for Athens and sought further commitments first on product market […]
(REUTERS) Greece is a small part of the world economy, and its possible exit from the euro zone should have limited impact on the rest of the world, the IMF’s chief economist said on Thursday, though he warned similar crises could happen in other countries. Greece is racing to find a last-minute third bailout from its IMF and European Union creditors to avoid bankruptcy and exit from the euro zone. “In a world in which […]
(REUTERS) European Council President Donald Tusk joined on Thursday (July 9) growing international calls for Greece to be granted debt restructuring as part of any new loan deal if it delivers convincing reforms to avert imminent bankruptcy. The call was an implicit challenge to Germany, Athens’ biggest creditor, which has so far ruled out any write-offs as illegal and taken a restrictive view of reprofiling the debt to help Greece over a major repayment […]
(Reuters) World markets were down on Wednesday (July 8) as investors worried about Greece’s debt crisis, a meltdown in Chinese markets and a slump in commodities. Euro zone leaders on Tuesday (July 7) gave Athens until the end of the week to come up with proposals for reforms in return for loans. Without the aid, Greece is likely to crash out of Europe’s single currency bloc. Markey analyst Chris Beauchamp said but a solution […]
(Reuters) — Greek pensioners queued outside banks in Athens once again on Wednesday (July 8) to withdraw their pensions as fears grew that the country’s cash reserves would soon run dry. The scenes have been repeated outside 1,000 bank branches across Greece since banks were closed and capital controls imposed on June 29. Banks were only opened during the last week to pensioners who do not have credit or debit cards. Other people stood in […]
(Reuters) — Asian shares fell on Wednesday (July 8) as investors fretted over Greece’s debt crisis and a recent plunge in Chinese stocks, while the euro steadied. Euro zone members gave Athens until the end of this week to propose reform measures in order to secure the funding it needs to stay in the euro zone. Investors nervously awaited the opening of China’s share markets, after they slumped on Tuedsay (July 7) despite a flurry […]
