New Greek negotiator Euclid Tsakalotos heads to Brussels for bailout discussions April 29, 2015 Greek officials will meet with representatives of its creditors in Brussels today, as the country rushes to avoid bankruptcy. The Greek delegation will be led by Oxford-educated Euclid Tsakalotos, City A.M. understands. He has usurped finance minister Yanis Varoufakis as Greece’s main negotiator, after a meeting between Varoufakis and Eurozone finance ministers last week turned [...]
Greek finance minister Yanis Varoufakis attacked in Athens restaurant April 29, 2015 Poor Yanis Varoufakis. Not only has the Greek finance minister had to endure being sidelined by his boss – he's now been attacked by anarchists in an Athens restaurant last night, as he had dinner with his wife, according to reports. Varoufakis said he was eating in the Exarhia district of the Greek capital, an area popular [...]
Alexis Tsipras defends Yanis Varoufakis and says Greece will reach deal with creditors by end of next week April 28, 2015 Greece is on the verge of securing a bailout agreement with its EU creditors, according to the struggling nation's Prime Minister. During an interview on Greece's Star TV last night, Alexis Tsipras said the final and most important stage of talks had been reached, and that an interim deal is likely to be achieved by [...]
Yanis Varoufakis out, Euclid Tsakalotos in: Markets cheer Greek shake-up as maverick’s influence wanes April 27, 2015 Investors lifted markets across Europe yesterday as the Greek government decided to bulk up its bailout negotiation team and lessen the influence of maverick finance minister Yanis Varoufakis. The government will create a new political team headed by Oxford-educated alternate foreign minister Euclid Tsakalotos. Manchester University professor George Chouliarakis will also take a more central [...]
Greece’s golden boy Yanis Varoufakis and his tragic fall from grace. It all started with a misjudged Paris Match photoshoot April 27, 2015 It all began so well for Yanis Varoufakis. When he was thrust into the spotlight in January as the finance minister of a near-bankrupt Greece, the motorcycle-riding academic was acclaimed by media and academics alike as being a new voice for a new era. They dubbed him a rock star economist for his leather jacket [...]
As talks drag on, would calling early elections pave the way to a final agreement for Greece? April 27, 2015 Christian Schulz, senior economist at Berenberg, says Yes It was always clear that Prime Minister Tsipras could not satisfy his party’s hardline left-wingers and international creditors at the same time. Greece needs a third bailout this summer to stay in the Eurozone in the long term. The Eurozone would offer that help, but with more [...]
European markets sink as Greece jitters continue April 27, 2015 Another week, another set of worries about Greece. Although European markets started the day well, that rally faded quickly, with the FTSE 100 falling 0.36 per cent by mid-morning. At the same time, Germany's Dax dropped 0.29 per cent and France's Cac 40 fell 0.9 per cent. Although the FTSEurofirst 300 opened 0.4 per cent [...]
Yanis Varoufakis may not be involved in Eurogroup talks for much longer, as ministers try to speak directly to the Alexis Tsipras April 26, 2015 Greek finance minister Yanis Varoufakis is being sidelined by Eurozone officials, as they choose to speak directly to Prime Minister Alexis Tsipras instead. This weekend, talks were held in the Latvian capital Riga to discuss the struggling nation's bailout situation. But following an unsuccessful meeting on Friday, in which Varoufakis was turned on by many [...]
European markets rise as optimism over a possible Greece deal strengthens April 24, 2015 Shares went up across European markets today, as signs of a possible deal between Greece and its creditor nations boosted confidence. Eurozone finance ministers are currently meeting in Riga, Latvia, to discuss a bailout for the southern European nation, which is approaching another deadline over its debt crisis. Today German Chancellor Angela Merkel [...]
Greece debt deadline: Syriza risks split as progress on a deal crawls April 22, 2015 Greece has enough cash to meet its debt payments into June, Eurozone and Greek officials said yesterday, quashing fears of an imminent default, as a deal to inject more cash into the debt-addled state, at a meeting in Latvia tomorrow, looks unlikely. “The liquidity situation in Greece is already a little tight, but it should [...]