EU economy commissioner Pierre Moscovici: It’s not too late for a Greek deal June 29, 2015 Amid all the doom and gloom, one EU official struck a positive note this morning; EU economy commissioner Pierre Moscovici said this morning that it's "not too late" for Greece to strike a deal with its creditors. Hmm. Read more: Greek banks and Athens stock market closed for business In an interview with French radio [...]
Greek banks and Athens stock market closed as Alexis Tsipras plans to stage referendum vote on bailout deal and euro value dives June 29, 2015 Greek banks will be closed today and could be shut for the rest of the week as months of negotiations between Greece and its bailout monitors culminated in a stalemate, leading to a cut off in emergency lending to the country’s banks. The market reaction was swift, with the value of the euro diving [...]
Greek debt crisis: Creditors come under fire for tough stance on Greece June 29, 2015 US President Barack Obama yesterday urged German leader Angela Merkel to find a solution to Greece’s economic crisis as bailout talks broke down and the country said it would put its latest offer from creditors to a referendum next weekend. The referendum question will be “Do you accept the institutions’ proposal as it was [...]
Grexit: The bell is tolling for Greece – but it’s tolling for Europe now too June 28, 2015 “I am involved in mankind, and therefore never send to know for whom the bell tolls; it tolls for thee.”– John Donne Monaco – It is surely beyond odd that Alexis Tsipras – Marxist firebrand Premier of Greece – and I share a guilty pleasure: the works of Ernest Hemingway. When pressed to the [...]
Greece debt crisis: Here’s what the analysts say about the plan to close all Greek banks June 28, 2015 Today, the European Central Bank announced it will not increase emergency loans for Greek banks after Prime Minister Alexis Tsipras called for a surprise referendum on a reform deal. Huge sums of cash were withdrawn from ATMs across the country yesterday, and this has prompted Greece to close all its banks on Monday while [...]
Greek debt crisis: Banks will be closed on Monday as capital controls are imposed June 28, 2015 Greek banks will be closed tomorrow, Prime Minister Alexis Tsipras has said, while capital controls are put in place, Read more: Take enough cash to Greece, Government advises British tourists He would not confirm the length of time they will remain closed for, but said Greek deposits were safe. The decision follows the European [...]
Greek debt crisis: IMF head Christine Lagarde says Eurozone is “in strong position” June 28, 2015 The head of the International Monetary Fund has expressed confidence in the Eurozone's ability to manage the ongoing Greek debt crisis. Christine Lagarde said Europe is in "a strong position to respond to developments in a timely and effective manner, as needed" in a statement, following the Greek government's backing of a referendum on a [...]
Greek debt crisis travel advice: Take enough cash to Greece, government advises British tourists June 28, 2015 The government has advised British holidaymakers travelling to Greece that they may be faced with limited access to banking services as the country's bailout negotiations flounder leaving banks under pressure supply the country with cash. The Foreign and Commonwealth Office (FCO) has updated its advice to travellers, with a specific warning that access to banks [...]
Greek debt crisis: ECB will maintain ELA emergency loan support to Greek banks June 28, 2015 The European Central Bank (ECB) will keep supplying Greece with emergency loans to keep the country's banks running after Greek PM Alexis Tsipras called a surprise referendum on its latest bailout deal. “We continue to work closely with the Bank of Greece and we strongly endorse the commitment of Member States in pledging to take [...]
Greek debt crisis: Gretigue? Alexis Tsipras vents on Twitter as bailout referendum and ECB decision looms June 28, 2015 Maybe he's a bit tired and emotional as his country teeters on the edge of default – and let's face it, everyone else trying to keep up with developments in Greece certainly is, in what's been dubbed "Gretigue" – but Greek PM Alexis Tsipras has vented his frustrations in a hashtag fueled tirade against Europe's [...]