Angela Merkel: Germany won’t discuss Greek bailout deal until after Greek referendum June 30, 2015 Angela Merkel has said Germany won't consider a new proposal from Greece until after Sunday's referendum, after the country proposed a new two-year bailout extension to its creditors. Read more: Tsipras's costly referendum gamble may harm more than just the Greeks Under Greece's new proposal, the funds would be supplied by the European bailout fund, known [...]
Greece could face a huge shortage of life-saving medicines if it defaults on today’s IMF payment June 30, 2015 If Greece defaults on its €1.6bn (£1.14bn) repayment to the IMF today, the country could end up suffering a serious shortage of life-saving medicines. Read more: This Londoner is crowdfunding a Greek bailout fund on Indiegogo In a letter written to the European Commission, the European Federation of Pharmaceutical Industries and Associations (EFPIA) called [...]
Crowdfunding Greece: This Indiegogo Grexit bailout crowdfund has reached a six-figure sum June 30, 2015 Sceptical of the power of people? Us too. But you can't help but be impressed by the fact this crowdfunding campaign to help Greece meet its debts has already reached a six-figure sum. At 2pm on Tuesday the total raised had reached nearly €125, 000 from donations made by 7,743 people in just one [...]
European markets begin second day of falls as Greece confirms it won’t make today’s IMF payment deadline June 30, 2015 The FTSE 100 was 0.6 per cent down in late morning trading today, after Greece confirmed last night it will definitely miss today's 6pm deadline to pay the International Monetary Fund (IMF) €1.6bn (£1.1bn). Read more: George Osborne vows to help Britons hit by Greek crisis Meanwhile, although both the Cac and the Dax fell, [...]
Greece will default on its €1.6bn repayment to the IMF today June 30, 2015 Greece will not pay the €1.6bn (£1.14bn) it owes to the IMF today, Athens has confirmed Read more: How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations The beleaguered country is required to make the repayment to its creditor by 11pm on 30 June, after saying it would bundle all its payments for the month [...]
Germany, France and Italy warn Greek people referendum ‘no’ vote will spark exit from currency union June 29, 2015 Eurozone leaders ratcheted up the pressure on embattled Greek leader Alexis Tsipras yesterday by warning Greek voters that Sunday’s crunch bailout referendum was a vote on the return of the drachma. Amid a day of high drama in Greece, the Eurozone’s top three economies, Germany, France and Italy, raised the stakes by urging voters [...]
Greek debt crisis: George Osborne vows to help British pensioners, businesses and holiday makers June 29, 2015 Chancellor George Osborne has said that the government will protect British pensioners, businesses and holiday makers who stand to lose money in the ongoing Greek debt crisis. In a special statement to the House of Commons yesterday, Osborne said that Britain is “prepared” in a “rapidly changing situation”. “Britain’s attitude to the developing [...]
Tsipras’s costly referendum gamble may harm more than just the Greeks June 29, 2015 Given the stunning events of the weekend, it’s easy to forget that, just ten days ago, the creditors and Greece were both making positive statements about progress towards a solution to the Greek bailout crisis. Who could have forecast that we would suddenly find ourselves with a breakdown in the talks and a referendum called [...]
As it teeters on the brink of financial collapse, would Greek default spell disaster for markets? June 29, 2015 Kathleen Brooks, research director at Gain Capital, says Yes Greece might not be the be-all and end-all for markets in the short term, but in the long term, the events of the last few days could sow the seeds for the next major financial crisis. Our concern is that if another, larger Eurozone member gets [...]
Greece adds to toxic mix of global risks – CNBC Comment June 29, 2015 Grexit, Grexident and now Greferendum – the debt crisis in Greece has thrown up plenty of new portmanteaux, as linguistics professors would call these often tortuous combinations of words. And owing to the Greferendum becoming a reality this weekend, it now looks increasingly likely that the others may also move from concept to execution. Greek [...]