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greek debt crisis News

Germany will be flexible on restructuring Greek debt

Berlin - The German Chancellor, Angela Merkel said today that Germany would be flexible in negotiations on restructuring Greece's massive debt. However, she ruled out any write off as part of the restructuring.

Op-Ed: The German Grexit plan may have been the lesser of two evils

Athens - Greek negotiators finally arrived at a deal for a further bailout from the European Stability Mechanism (ESM) and the IMF. The deal has harsher austerity conditions than the one rejected by over 60 percent of Greeks voting in a recent referendum.

Op-Ed: Greece says No — The EU must acknowledge failure

Athens - The Greek No vote represents a well-deserved slap in the face to the EU, which has completely ignored the suffering its austerity measures have caused. The question now is whether the EU will even pay attention to either the vote or the issues.

Op-Ed: Greek exit hits markets, default looms, and stupidity rules

Sydney - The bottom line has been hit. Greece has abandoned talks. Greek banks are closing indefinitely. The EU, thanks to its own ineptitude, has unleashed an economic event with unknown consequences for the global economy.

Op-Ed: Greece's new proposals erase most previous 'red lines'

Brussels - Eurozone finance ministers gather in Brussels this evening to discuss new proposals that Greek officials hope will be sufficient to release the last 7.2 billion euros of the bailout funds remaining in the loan that expires the end of June.

Op-Ed: Greek prime minister sees deal with creditors on Monday

Athens - With less than two weeks left before the present Greek bailout loan expires, Greek Prime Minister Alexis Tsipras is still optimistic that a deal can be reached this Monday.

Op-Ed: Greek whiners still whining about overspending

Athen - Today's news regarding the Greek intransigence against facing reality is pretty much the same as yesterday's. And the day before, and the day before that.

Op-Ed: Syriza divided on accepting creditor demands for Greek debt deal

Athens - While Greek Prime Minister Alexis Tsipras insists he wants a deal with Greece's creditors, many in the ruling Syriza party want the government to refuse to accept further demands and instead develop alternative plans in case there is no deal.

Without a new deal for funds Greece will miss next IMF payment

Athens - The Greek government is warning its creditors that it is on the verge of default and claims it will not be able to make the next International Monetary Fund (IMF) payment due on June 5.

Op-Ed: Greek prime minister says deal with creditors close

Athens - Alexis Tsipras, the Greek Prime Minister, insists he is close to a deal with the country's creditors that would result in the remainder of the bailout loan funds to be dispersed helping to ease the country's cash shortage.

Op-Ed: Greece makes another IMF payment on time

Brussels - The Greek government managed to scrape together enough cash to pay off $222 million that was due to the International Monetary Fund yesterday.

Op-Ed: Greek government revamps negotiating team

Athens - Feisty Greek Finance Minister Yanis Varoufakis has reportedly been relegated to the sidelines in negotiations with EU and IMF creditors for a deal that would release more funds from the bailout loan.

Op-Ed: European Commission makes $2.15 billion available to Greece

Athens - Head of the European Commission(EC), Jean-Claude Juncker says that 2 billion euros($2.15 billion) in unused funds will be made available to help Greece avoid a looming cash crunch.

Op-Ed: Greek creditors keeping pressure on Greek government to reform

Athens - Greece submitted a draft list of reforms to the Eurogroup and "institutions" -formerly known as the Troika- on Friday ahead of a crucial meeting next week that the Greek government hopes will result in the release of more aid.

Op-Ed: Greece's reform list accepted by Eurogroup but with reservations

Brussels - The Greek Finance Minister Yanis Varoufakis sent a letter to Eurogroup President Jeroen Dijsselbloem just before the deadline of midnight Monday that outlines proposed reforms that Greece was willing to undertake to receive bailout funds.

Op-Ed: Syriza sellout sends stock markets soaring

Brussels - Even the proposals presented earlier that Germany rejected were a sell out of most of the campaign promises made by Syriza including the demand for writing off some debt and for a new agreement rather than an extension of the existing bailout.

Greek proposals for extending loan rejected by Germany

Athens - Moments after the European Commission had called the Greek proposals "positive" Germany rejected them. Greece was requesting a six-month extension of its loan program.

Op-Ed: Talks between Greece and euro zone finance ministers collapse

Athens - Euro zone finance ministers presented Greece with a proposal it could hardly accept since it would extend the present bailout and its conditions for another six months.

Greece seeks bridge financing as debt deal may take time

Brussels - Greece and its EU creditors are extending talks over the weekend in order to possibly reach a deal at talks with EU finance ministers on Monday at Brussels.

Op-Ed: Greek and German finance ministers talks go nowhere

Berlin - Talks today between German Finance Minister Wofgang Schaeuble and Greek Finance Minister Yanis Varoufakis appeared to achieve little or nothing with the German side simply repeating its hard line on Greek debt reduction

Op-Ed: Greek markets plunge as Grexit appears more likely

Athens - German chancellor Angela Merkel has ruled out any write off of Greek debt, claiming that banks and creditors have already made substantial cuts. At the same time she insisted that she wants Greece to stay in the Eurozone.

Op-Ed: Greek negotiations with troika on hold as crisis continues

Athens - Prime Minister Antonis Samaras faces continuing problems negotiating with the Troika (European Commission, International Monetary Fund and European Central Bank) as he attempts to obtain the next portion, approximately $1.5 billion. of a bailout package.

Op-Ed: General strike held in Greece to protest austerity cuts

Athens - Greek unions held a 24-hour general strike on Wednesday (Nov. 6) in opposition to any additional austerity cuts. The strikes are taking place as the Greek government holds talks with representatives of creditors, the troika.

Review: ‘Miss Violence’ is a challenging portrayal of abuse Special

In ‘Miss Violence,’ a young girl jumps to her death on her 11th birthday. But the family’s irregular reaction to her “accident” draws suspicion from observers.

Almost two thirds of Greek youth are unemployed

Athens - Unemployment in general in Greece rose to a new high in May with a rate of 27.6 percent, up slightly from 27 percent in April and considerably higher than the 23.8 percent a year ago in May.

Greek Parliament votes in new austerity measures

Shortly after midnight the Greek Parliament voted in favour of the latest austerity measures that include drastic cuts and new taxes to the tune of €13.5 billion, and comprehensive changes to the labour laws.

Finance Ministry dismisses END's offer to buy Greek debt as joke

Athens - It was all just a "joke" the Greek Ministry of Finance declared, as it publicly dismissed reputed offers by the supposed E.N.D. Foundation to pay off the national Greek debt.

'Give us the debt and we will END the crisis' say Greek expats

Greeks living abroad, the Greek Diaspora, are willing to buy out Greece's debt but are demanding drastic changes to the Greek Constitution and national elections immediately.

Op-Ed: Thousands of Greeks protest austerity measures

Thessalon - Thousands of Greeks mount protests at new austerity measures imposed to meet terms of the bailout provisions imposed by the Troika

Greek banks facing risk of run in election fears

Athens - Major Greek banks are losing as much as 800 million Euros a day, as panicked consumers withdraw their money and begin panic-buying at supermarkets.
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Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos from Saturday s demonstration outside the Parliament.
Photos from Saturday's demonstration outside the Parliament.
Protesters during an anti-austerity demonstration outside the Greek Parliament in Athens
Protesters during an anti-austerity demonstration outside the Greek Parliament in Athens
Demonstration outside the Greek Parliament
Demonstration outside the Greek Parliament
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos from Saturday s demonstration outside the Parliament.
Photos from Saturday's demonstration outside the Parliament.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Photos from Saturday s demonstration outside the Parliament.
Photos from Saturday's demonstration outside the Parliament.
Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
Protesters during an anti-austerity demonstration outside the Greek Parliament in Athens
Protesters during an anti-austerity demonstration outside the Greek Parliament in Athens
Demonstration outside the Greek Parliament
Demonstration outside the Greek Parliament
Demonstration outside the Greek Parliament
Demonstration outside the Greek Parliament