Can Alexis Tsipras survive as Greece’s Prime Minister? August 16, 2015 Dennis Novy, a professor at Warwick University, says Yes. Alexis Tsipras will be able to survive, for one simple reason: there’s no better alternative. The Greeks don’t want to leave the Eurozone. The last months have shown that the government’s previous approach hasn’t worked. Predominantly, this is because of too much resistance from other countries, [...]
Greek debt crisis: German chancellor Angela Merkel says there’s “no doubt” IMF will join third bailout August 16, 2015 In an attempt to assuage fears that a third bailout package for Greece will not have support from international creditors, German chancellor Anglea Merkel went live on national television today to express confidence in the IMF's involvement. Read more: IMF says Greece needs debt relief after new bailout deal In an interview on ZDF, [...]
Greek crisis: IMF says Greece needs debt relief after new bailout deal August 15, 2015 Managing director of the International Monetary Fund (IMF) Christine Lagarde has questioned the ability of Greece to service its debts without some kind of relief, as Eurozone finance ministers approved a third bailout deal. "I remain firmly of the view that Greece’s debt has become unsustainable and that Greece cannot restore debt sustainability solely through actions [...]
Greek debt crisis: Parliament approves third bailout deal August 15, 2015 The Greek government approved a third bailout deal this morning, with more than half of the country's 300-strong parliament voting in favour of the deal. Read more: The bailout alone will not save Greece now and time is running out for Alexis Tsipras Lawmakers began wrangling over the controversial package, which requires more austerity and economic [...]
Greek debt crisis: Germany concedes Greece needs debt relief August 15, 2015 Germany has conceded Greece needs debt relief, as the cash-strapped country races to submit a reform plan in time for its midnight deadline. "Debt sustainability is not feasible without a haircut and I think the IMF is correct in saying that," German Finance Minister Wolfgang Schaeuble told a conference in Frankfurt. However he also said "there [...]
Greek debt crisis: The bailout alone will not save Greece now and time is running out for Alexis Tsipras August 12, 2015 A significant step forward was achieved yesterday, with the technical agreement fleshing out the €85bn deal made by Greece and its Eurozone partners last month. The three-year plan involves some 35 measures, from further taxes and cuts, to reforms and privatisations, lowering of pensions and farmer subsidies, to rises in retirement age and VAT rates [...]
Greek debt crisis: Alexis Tsipras calls emergency parliament session to vote on new bailout deal August 12, 2015 Greece’s prime minister Alexis Tsipras has called an emergency session of parliament to vote on a new bailout deal after the cash-strapped country reached an agreement with its creditors earlier today. The multi-billion dollar bailout deal was agreed upon after another overnight set of talks starting Monday afternoon, and will help the country remain in [...]
Greek debt crisis: Greece reaches a deal on a third bailout with creditors August 11, 2015 Greece has reached a multi-billion euro agreement over a third bailout with its lenders, following another overnight set of talks which started on Monday afternoon. The two sides are reported to have agreed on a wealth fund to handle privatisations, as well as how to address non-performing loans in its bankings sector – two key [...]
Greek debt crisis: Greek bank stocks rise as bailout talks progress August 10, 2015 Greek bank stocks have risen as the country comes closer to agreeing a third bailout worth €86bn (£60.8bn) with international creditors. Banks have risen to the top of the Athex Composite Index, with Piraeus Bank trading up 6.94 per cent, Alpha Bank rising 4.1 per cent, Eurobank climbing 1.79 per cent and the National Bank [...]
Greek debt crisis: Greece hopes to conclude bailout talks by Tuesday, ahead of next repayment to European Central Bank August 9, 2015 Greece’s government is hoping to conclude bailout talks with its creditors by Tuesday, giving the debt-ridden country time to pass the deal ahead of its next repayment to the European Central Bank (ECB). Details of a plan that would make up to 86bn euros (£60.9bn) available to Greece are being negotiated with the International Monetary [...]