Greek debt crisis: Finance minister Yanis Varoufakis resigns despite referendum “no” vote July 6, 2015 Greece's finance minister Yanis Varoufakis resigned his post today, despite the Greeks' resounding "no" vote in Sunday's referendum. The economist praised the electorate for "the great capital bestowed upon our government by the splendid no vote" – but said it was clear he could not remain in his position. Varoufakis, who had previously threatened to [...]
Greek debt crisis: Greece votes no to bailout terms as City economists warn on Grexit and fears rise over euro’s future July 5, 2015 The Greek electorate has overwhelmingly rejected conditions attached to an extension of the country’s bailout, in a defiant gesture that threatens the future of the Eurozone. Prime Minister Alexis Tsipras last night vowed to return to the table and secure a quick deal that will prevent Greece’s banking sector from collapse. Over 60 per [...]
Greeks fear for the future of their divided country after referendum “no” vote July 5, 2015 Tens of thousands of Greeks took to streets of Athens to celebrate last night. The resounding “no” vote given against the latest deal offered by creditors gives Prime Minister Alexis Tsipras a chance to take his hard-line approach back to the table with a democratic mandate. Yet his aggressive stance has not met with [...]
Has the ongoing Greek crisis irrevocably tarnished the single European currency? July 5, 2015 Ruth Lea, economic adviser to the Arbuthnot Banking Group, says Yes. The euro was first and foremost a political project, albeit one with the profoundest of economic ramifications. Its launch was a major step towards the “ever closer union of the peoples of Europe”, as first articulated in the Treaty of Rome. But Greece’s current [...]
Greek referendum – when will the results come in? Voters set to reject bailout offer July 5, 2015 Greece has entered uncharted territory after it overwhelmingly rejected austerity measures in exchange for unblocking aid in a historic referendum. It's been over six hours since the polls closed, and around 95 per cent of the votes have been counted, with 61.31 per cent voting "no" and 38.69 per cent voting "yes". This flies in the [...]
Euro slides against the dollar as Greeks vote “no” in referendum July 5, 2015 The euro fell sharply against its major peers as the Greeks look set to overwhelmingly reject more austerity measures in return for unlocking funding that it so desperately needs. The single currency initially fell by 1.4 per cent against the greenback however it later recovered losses slightly to trade at $1.09992. It's been nearly five [...]
Greek referendum: Finance minister Yanis Varoufakis hails “no” vote against austerity July 5, 2015 Greek finance minister Yanis Varoufakis has hailed a seeming "no" vote against more austerity measures implying it ramps up pressure on the country's creditors to negotiate. "As of tomorrow, with this brave "no" the Greek people handed us … we will extend a helping hand towards our lenders. We will call on each one of them [...]
Greek referendum “no” vote: What the analysts say July 5, 2015 As Greece inches towards a historic "no" vote against austerity measures such as VAT rises and pension cuts, analysts are already reacting to the potential victory for Tsipras and co. With three hours since the polls closed, and over half of the votes have been counted, so far 61.26 per cent voted "no" and 38.74 per cent [...]
What time will we find out the result of the Greek referendum? All the timings of today’s vote July 5, 2015 Voting for the Greek referendum closed at 5pm (BST) today and the first smattering of results are pointing towards a "no" vote. With 26.75 per cent of the vote counted, 60.59 per cent have voted "no" and 39.41 per cent have voted "yes". And so far not a single region has voted yes. Polls released earlier [...]
Will Greece leave the Eurozone? Crunch time as Greeks heads to the polls in bailout referendum July 5, 2015 Greece will today head to the polls to vote in a referendum which could send the country tumbling into financial disaster and plunge the Eurozone into turmoil. Greeks will vote on whether or not to accept the terms of a new bailout deal which demands austerity measures including VAT rises and pension cuts. The surprise [...]