Greek Prime Minister Alexis Tsipras calls on Greeks to vote “no” to reforms June 29, 2015 Even if Greece votes against accepting the reforms put forward by creditors, it will not be pushed out of the Eurozone, according to Prime Minister Alexis Tsipras. Read more: Jean-Claude Juncker says he feels "betrayed" by Alexis Tsipras During an interview televised on the Greek ERT channel on Monday night, he called on the [...]
S&P downgrades Greece and puts chances of Grexit at 50 per cent June 29, 2015 S&P has downgraded Greece's credit rating from CCC to CCC-, and says there is a 50 per cent chance it will leave the Euro. Read more: Greece will default on its €1.6bn repayment to the IMF tomorrow It made the change because it feels that, unless circumstances change, Athens will probably default on its [...]
Chancellor George Osborne says no-one should underestimate the impact of a Greek exit from the Eurozone June 29, 2015 George Osborne has reiterated Britain’s attitude regarding Greece is to “hope for the best, but plan for the worst,” in a speech to the House of Commons. The chancellor told MPs no-one should understate the "impact a Greek exit from euro would have on the European economy and the knock-on effects on us." This is [...]
Greek debt crisis: This Londoner is crowdfunding a Greek bailout fund on Indiegogo June 29, 2015 Greece has a rather large bill to pay. Read more: This Indiegogo Grexit bailout crowdfund has reached a six-figure sum As the country approaches the deadline for repaying loans to its creditors – €1.6bn of which is due to the International Monetary Fund (IMF) tomorrow – it's the kind of cash that a country doesn't just find [...]
How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations June 29, 2015 Late on Saturday evening, as Europe was still reeling from Greece’s decision to walk away from the negotiating table to hold a referendum on a reform package proposed by its creditors, the country’s Prime Minister, Alexis Tsipras, started tweeting. https://twitter.com/tsipras_eu/status/614922800709636096 Minutes later, he followed it up with another proclamation: https://twitter.com/tsipras_eu/status/614923748504940544 Then [...]
Greek crisis: Jean-Claude Juncker says he feels “betrayed” by Alexis Tsipras after debt negotiations fail June 29, 2015 European Commission president Jean-Claude Juncker cut a weary figure as he told a press conference today that he feels "betrayed" by Greece's refusal to consider its creditors' reform package. Read more: Greece crisis pummels world markets In an extraordinary Brussels press conference, Juncker said: "I feel betrayed because not enough consideration is given to my [...]
Greek crisis: €8bn withdrawn from Greek banks by savers, Moody’s reckons June 29, 2015 It looks like those capital controls came in the nick of time: new analysis from credit ratings giant Moody's has suggested Greek savers withdrew €8bn (£7.1bn) over the past two weeks. To put that into context, that's more than the €7bn of funds creditors have been arguing over. The note from Moody's suggested deposits fell [...]
Greek debt crisis: Should I still go on holiday to Greece? Government issues travel advice June 29, 2015 As Greece plunges headlong towards defaulting on a payment due to the International Monetary Fund (IMF) tomorrow, what does that mean for the two million-odd people expected to travel to Greece as the summer holiday season kicks off? Here's how it's likely to affect your holiday. What's actually happening? The Greek government has been unable [...]
Greek debt crisis: Should UK tourists take cash to Greece? Government imposes ATM limit on citizens as banks close June 29, 2015 Foreign tourists are exempt from the €60 (£38) daily limit Greece's government has imposed on ATM transactions in the country, Greek authorities have stated. In response to a possible bank run and crisis, Greece has closed banks until after the referendum next week, and capital controls have been imposed. Worried tourists have been queuing up [...]
FTSE, Dax and Cac all open lower as Greek crisis takes its toll on markets and the euro June 29, 2015 The turmoil in Greece hit European stocks this morning, with the FTSE 100, Germany's Dax and France's Cac all opening lower. Read more: "It's not too late for a Greek deal" – EU official The FTSE was two per cent lower, while Germany's Xetra Dax was down 3.7 per cent and France's Cac 40 was [...]