Greece slams IMF: Yanis Varoufakis hits out at creditors for deal stalemate May 26, 2015 Greece's firebrand finance minister yesterday blasted the International Monetary Fund (IMF) for playing hardball in negotiations, as fears the country will default on its debt sent up the interest rate on its government bonds. “It’s about time the institutions, in particular the IMF, get their act together, and come to an agreement with us,” [...]
Grexit: Euro falls as markets take a battering on Greek default fears May 26, 2015 The euro tumbled to a one-month low against the dollar this morning with investors unable to shake-off concerns surrounding Greece's ability to meet its upcoming loan repayments. European markets are also being pushed lower by the crisis, with the FTSE falling by 35 points to 6,996.36 at 11.30am. Greek officials are in Brussels today to [...]
What will happen if Greece defaults on its loan repayment to the IMF? May 26, 2015 Over the course of June, Greece must make four payments totalling €1.6bn (£1.1bn) to the IMF, starting with €300m (£212m) on 5 June. But whether it will meet all these obligations is far from certain, as the country is struggling to reach a deal with its European creditors to unlock crucial bailout funds. It managed [...]
Greek shares drop despite pledge to keep paying IMF May 25, 2015 Stocks in Athens sank three per cent yesterday despite the government reiterating that it would meet its intention to pay its creditors on time. The euro also sank to a one-month low against the dollar, trading at $1.097 last night. At the weekend one of the country’s ministers claimed that Greece would refuse to – [...]
European stocks feel the pressure after Greek minister says default is on the horizon and Spain’s ruling party is punished at the polls May 25, 2015 European stocks are feeling the latest shockwaves from Greece. Yesterday Greece’s interior minister said that the country wouldn’t be able to pay the €1.6bn (£1.1bn) it owes the IMF next month. To add to the jitters, the ruling Popular Party (PP) in Spain was hammered at the polls, with smaller, ant-establishment parties doing well. The [...]
Greece has no money to pay the IMF this June, says interior minister Nikos Voutsis May 24, 2015 Greece’s interior minister has said that the country cannot afford its 5 June payment to the International Monetary Fund. Greece owes the IMF €1.6bn (£1.1bn) in June, but Nikos Voutsis said on Greek TV that Athens simply doesn’t have the money to pay: The four instalments for the IMF in June are €1.6bn, this money [...]
Moody’s: Greek capital controls “highly likely” May 20, 2015 Moody's has suggested there is a "high likelihood" of capital controls being imposed on Greek banks, after outflows of more than €30bn since December. In a statement today, the credit ratings giant gave the embattled country's banking system a negative rating, adding that pressures are unlikely to ease over the next 12-18 months. "There is [...]
As Greece’s finance minister says a deal could be made within a week, is Grexit off the cards? May 19, 2015 Marina Prentoulis, senior lecturer at the University of East Anglia and a member of Syriza London, says Yes The Greek government has always maintained that a solution for all debt ridden countries is possible without an exit from the Eurozone. The political will of all the partners can reverse the catastrophic direction of the union, [...]
Grexit odds have shortened again May 19, 2015 If Alexis Tspiras is a betting man he might be hoping for better odds than these. Bookmaker Paddy Power now believes there is a 40 per cent chance of Greece leaving the Eurozone this year. The odds of a Grexit have been shortening across the board. Paddy Power has it priced at 6/4, while [...]
Greece insists deal to avoid bankruptcy is imminent as Jean-Claude Juncker offers a lifeline May 18, 2015 Greek officials expect technocrats to nail down an agreement this week that would unlock billions of euros to help the country and avoid it going bankrupt. The renewed optimism may have been the result of an intervention by European Commission (EC) Jean-Claude Juncker. Reports in Greek media suggest Juncker has outlined a much more favourable [...]