Euro
Economy
Thousands of Greeks Demonstrate Saying 'Yes' to Europe
Thousands of Greeks protested in front of the Greek Parliament asking to stay in the European Union and the euro. The mayors of Athens and Thessaloniki delivered speeches and demonstrated for Europe.
Despite the early drizzle that developed to a hard rain,...
Economy
Eurozone’s shared identity the final tragedy of the Greek crisis
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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...
Economy
Eurogroup Concludes Meeting; Juncker Says Big Things Happening
The critical Eurogroup teleconference on Greece has ended. The finance ministers of the Eurozone decided to reject a call by Greek PM Tsipras to extend Greece's bailout program.
European Commission President Jean-Claude Juncker told journalists that things you are not...
Economy
S&P Downgrades Greece to Junk: Grexit at 50% – Negative Outlook
Standard and Poors has downgraded Greece's credit rating to CCC- from CCC. The agency puts Greece into junk territory in sovereign credit ratings.
Here's the rationale of the rating as it was released by S&P:
Overview
We interpret Greece's decision to hold a...
Greece
Yanis Varoufakis' Historic Speech at the Last Eurogroup: As It Happened
Greece's Finance Minister Yanis Varoufakis chronicles the dramatic events that took place during the last Eurogroup meeting, right before his counterparts decided to meet again - but without him.
Since twitter and facebook have been abuzz with speculation about Greece's...
Greece
Euro Nightmare Unfolds in Greece as ECB Punishes Greeks Ahead of Referendum
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By Panicos O. Demetriades, University of Leicester
As ECB froze the level of emergency liquidity assistance (ELA) it is providing to Greek banks, the nightmare scenario for Greece is already beginning to unfold. Capital controls are on the way, with all the...
Economy
ECB Reportedly to Stop Emergency Assistance to Greek Banks
The European Central Bank (ECB) will stop providing Emergency Liquidity Assistance (ELA) to Greece, the BBC reports, citing unnamed sources.
The end of emergency lending to Greece's banks might come as soon as Sunday - a move that could force them...
Greece
Greece Referendum: First Polls Show Greeks Favor Agreement
Although Prime Minister Alexis Tsipras urged Greeks to not approve the creditor's bailout agreement terms, the first polls in Greece find that most Greeks favor the deal even if it includes a new memorandum.
In a poll conducted by Alco...
Greece
Why There Can Be No Winners in the Grexit Game
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The problem with all this uncertainty is that the various players in the Grexit game fail to understand the serious consequences of not reaching a rational deal.
Europe
Eurogroup: Strengthening the Euro after Greece Negotiations Break Up
When Greek Minister Yanis Varoufakis left the Eurogroup after the break-up of the negotiations, the remaining Eurogroup members held an informal meeting to discuss how to further strengthen the EMU and help the euro area to overcome the legacy...