Euro Summit
Economy
No Agreement on Greece But Optimistic Ending to Euro Summit
An emergency summit of Eurozone leaders broke up Monday night without an agreement on a Greek rescue, but there was optimism that a deal is very near.
The mood improved thanks to a new Greek proposal that European Council President Donald Tusk called...
Economy
Greece Sends New Proposal Ahead of Emergency Euro Summit
The Greek government sent its new proposal to the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) around 1:00 am on Monday.
The European Commission chief of staff Martin Selmayr confirmed that the new, improved...
Economy
When You've Got Nothing (or Everything) to Lose
Greece knows it. The EU knows it. Hell, we all know it wouldn’t work. This extend-and-pretend strategy of unending bailouts. No matter what emerges over the weekend or at Monday’s emergency summit in Brussels, Greece and Europe have reached the...
Economy
European Council President: 'Time for Greece to Choose'
"The situation of Greece is getting critical. The current economy consistency program to Greece runs out in eleven days. Four months of negotiations have not led to the necessary compromise," European Council President Donald Tusk said, delivering a video message...
Economy
Varoufakis: Greece Submitted a Comprehensive and Credible Proposal to the Eurogroup
"The Greek government presented a broad, comprehensive and credible proposal on Thursday's Eurogroup that can constitute the foundation of the agreement ," Finance Minister Yanis Varoufakis said at the ECOFIN meeting.
Varoufakis stressed that the Greek proposal "not only completes the existing...
Economy
Tsipras Promises Solution to Greece's Debt Crisis
Greek Prime Minister Alexis Tsipras said that the efforts his government put toward securing the emergency Euro Summit on Monday has proved to be a "success."
Eurozone country leaders announced a Monday summit to resolve Greece's prolonged debt crisis that threatens...
Economy
Greek Banks Brace for Massive Outflow After Eurogroup Breakdown
Greek banks are facing a full-blown crisis after Thursdays' Eurogroup broke down, leaving the specter of Greece's bankruptcy looming large.
Almost 3 billion euros flew out of Greek banks this week, with bank managers expecting more outflow on Friday. A representative of the...
Economy
No Greek Deal At Eurogroup Meeting – Euro Summit On Monday
Greece's game of reaching a bridging deal with its European partners during the meeting of Eurozone Finance Ministers on Thursday afternoon in Luxembourg seems to have been lost and plans are currently underway for a top political level meeting this coming Monday.
European...