Greece
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Greek default

S&P: Greece in Risk of Default in 2016

The risk of a Greek default has not disappeared yet, according to a Standard & Poor's new report. According to the analysis, the political reactions to the painful third Greek bailout program is the number one risk that the...

Fitch Upgrades Greece to 'CCC'

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

Greece Repays 'Samurai' Bonds to Private Japanese Creditors

In a symbolic gesture that prevented another payment default, Greece repaid samurai bonds maturing on Tuesday, July 14, to private creditors in Japan. “The payment was made, the funds should be credited in the bondholders' accounts,” a Greek government...

'Regretfully, We Are Bankrupt'… Again; Debt And Default in Greece

Greece is the birthplace of dialogue, democracy, philosophy, arts and the first radical leftist government in Europe. During the last few years, and due to its deep dive into a financial turmoil, the country has been constantly hosted in numerous international...

EU Adds More Pressure on Greece Ahead of Referendum; EFSF Statement

  One day before Greeks vote in a referendum to accept or reject a bailout deal the EU has offered them, the European Financial Stability Facility issued a statement "reserving its rights to act upon Greece's default." With the Greek Banks closed...

Crisis Deepens: Greek Universities Lose Access to Digital Journals Due to Non-Payment

The latest victim of Greece's crisis have been students and academia that lost access to electronic journals, a vital source to continue their research and studies. The Hellenic Academic Libraries Link (HEAL-Link), the Internet portal that provides scientists in many...

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...

IMF Denies Withholding U.S. Tour Operator Payments To Greek Hotels

The International Monetary Fund (IMF) denied reports on Wednesday that it has ordered U.S. tour operators to withhold payments to Greek hotels after the Greek government's default on its €1.54-billion installment. According to the IMF, the fact that Athens was not consistent with its...

EFSF Threatens to Cancel Loan Contracts, Demands Immediate Repayment of Greek Loans

The European Financial Stability Facility (EFSF) said on Wednesday that it is considering action that includes "accelerating" its loans to Greece and demanding immediate repayment, in the wake of the country's failure to pay an International Monetary Fund (IMF) loan installment. The full...

Greece Is the Only Developed Country that Defaults on the IMF

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...