bankruptcy

Greek main opposition leader Antonis Samaras strongly criticized Greek Prime Minister Alexis Tsipras in a brief televised address on Wednesday, blaming him for closing Greece’s banks. "He did not have the bravery to admit he is the one who signed...

After defaulting on its payment to the International Monetary Fund (IMF) at 1:00 am on Wednesday, Greece became the first developed country that failed to meet its financial obligations to the Fund. Greece has officially joined Zimbabwe, Somalia and war-torn Sudan...

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...

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...

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...

"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...

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...

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...

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 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...