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U.S. Treasury Sec: Greece Must Make Tough Decisions to Reach Deal

The Greek government must make tough fiscal decisions to reach an agreement with international creditors, or it risks catastrophic consequences for its economy and people, U.S. Treasury Secretary Jack Lew said in an interview released on Saturday. "I think we’re...

Where Do Greeks Keep Their Money Instead of the Bank?

The threat of bankruptcy and  aGrexit after the failed negotiations between Greece and lenders and the scenarios of potential capital controls has led many Greeks running to the banks to withdraw deposits and savings. In the last four days, 3...

London Warns Tourists Visiting Greece to Take Enough Cash

While the whole world has turned its attention to the political and economic development revolving around the Greek crisis, the UK government took a step further and developed an emergency plan to help British tourists travelling to Greece, in...

FT: Greece Can Say No to Creditors Without Catastrophic Consequences

"Greece has nothing to lose by saying no to creditors," is the title of an analysis by The Financial Times that says bankruptcy and a subsequent Grexit would not be catastrophic after all. According to the article, Prime Minister Alexis...

Foreign Travel Agencies Add Greek Default Clause in Contracts

Fears that Greece’s negotiation with its creditors will not be fruitful have impacted the country’s political and economic sector, but also tourism. Foreign travel agencies have already demanded Greek hoteliers to sign a Greek default clause. Specifically, organizers of international conferences have...

Ifo Chief: Bankruptcy Is Better for Greece and Europe

Europe must let Greece exit the euro zone and go bankrupt because that would be the best for both, said President of Germany's Ifo Institute for Economic Research Hans Werner-Sinn. Speaking to CNBC on Monday, the German economist said that...

Tsipras: Greece Seeks No Rift with Europe

After the Greek government submitted its reforms list, currently being examined by the Brussels Group, Greek Prime Minister Alexis Tsipras stated that the country does not wish to cause a rift with Europe. In order for the country to avoid bankruptcy,...

Greek PM Tsipras: ECB has Noose Around our Neck

Greek Prime Minister Alexis Tsipras has accused the European Central Bank (ECB) of holding a noose around the country's neck, amid his government's attempts to avert bankruptcy this month. In an interview to German magazine Der Spiegel, Tsipras urged...

Greece, 6 Bankruptcies in Less Than 200 Years

Greece has been the center of attention for over two weeks, after the January 25 elections. Foreign media, news agencies, government officials and investors are watching the new Greek government closely, criticizing its every move. Furthermore, people around the world...

George Papandreou: Memorandum Was a Medicine

If the Memorandum was not signed, Greece would have been bankrupt. This is what former Prime Minister George Papandreou underlined during an interview on Greek TV earlier today. "The Memorandum was signed for a reason, it was a medicine," Papandreou...