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The Guardian: Fear of Default Grows in Greece

The fear of default has appeared again in Greece, after talks between Athens and lenders on the bailout program review have stalled over the new contingency measures creditors require, says a report on The Guardian. "The review that should have...

European Central Bank: "Greece Still in Jeopardy of Defaulting"

The European Central Bank (ECB) noted that even though after July Greece's expectations to default diminished, the stakes are still high due to concerns over an early and full implementation of the third bailout  program. For what concerns the Eurozone...

How Argentina and China Reacted to Greece's Referendum Results

China is confident that Greece's economy will turn around, after the outcome of Sunday's referendum. Deputy Chinese Foreign Minister Cheng Guoping said that he believes the Greek debt crisis would be "appropriately resolved." According to Reuters, Cheng Guoping said that with...

11 Reasons Why Greece Went Broke, Defaulted, and Isn’t a Real Country Anymore

  Opinion, by Phaedon Boukas There are reasons why the most glorious country of ancient times defaulted to the IMF and went bankrupt, becoming the economic pariah of the world in the 21st Century. IMF put Greece in arrears on June 30 after...

Eurozone’s shared identity the final tragedy of the Greek crisis

By Wesley Widmaier*, Griffith University Economic policy is not a morality tale. The Greek tragedy is that the Europeans have treated the Greek crisis as a question of national character. In their outrage at the Greeks – in the context of...

9 Things to Know about Greece’s IMF Debt Default

By André Broome, University of Warwick Greece missed the deadline on its €1.6 billion loan repayment due to the IMF June 30, becoming the first advanced economy to default to the fund in its 71-year history. Here are nine essential things to know...

Fitch Downgrades Greece Further to 'CC'

Fitch Ratings has downgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDRs) by one notch to 'CC' from 'CCC'. The issue ratings on Greece's senior unsecured foreign and local currency bonds have also been downgraded by one...

What Would Happen if Greece Defaults on its Payment to the IMF

Minister of Economy, Infrastructure, Shipping and Tourism Giorgos Stathakis said on CNN and The Financial Times that Greece will not make the repayment due to the International Monetary Fund on June 30 (today). The default will put Greece on a...

'Restricted Default' for Greek Banks: Fitch Ratings

Fitch Ratings downgraded Greek banks to "restricted default" Monday, a day after the Greek government imposed capital controls that include limits on deposit withdrawals and closed Greek banks for a week. Here's the full release by Fitch Ratings: Fitch Ratings-Barcelona/London-29 June...

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...