Greece Eurogroup Inconclusive; Will Reassess on Sunday
Saturday's crucial Eurogroup meeting, where finance ministers discussed the newly submitted Greek bailout proposal, has been inconclusive. The Eurogroup will meet again on Sunday at 11 am, just five hours before a decisive Euro Summit. The Eurogroup held an in-depth...
Former Greek FinMin Varoufakis: 'I Will Not Vote Tonight'
Former Greek Finance Minister Yanis Varoufakis announced through his Twitter account that he will not be present at the Greek Parliament tonight, July 10, during the vote for the Greek proposal which is expected to be submitted to the...
Berlin Will Provide the Deciding Vote for Greek Proposal
Media in Germany are claiming that the new proposal submitted by the Greek government is similar to the one tabled by the institutions in June. Furthermore, German news agencies noted that Berlin is the regulating factor in achieving an agreement between Greece...
French President Hollande: Greek Program Is Serious and Credible
The Greek government's new proposals are indicative of the Greece's volition Greece to remain in the Eurozone, said French President Francois Hollande on Friday. Hollande stated "Greeks have shown determination that they want to remain in the Eurozone because the program...
Athens Bar Association Says Greek Referendum Unconstitutional
The Athens Bar Association adopted a resolution on Tuesday in which they indicate that the upcoming referendum on 5 July includes some unconstitutional elements and has no clear content, after an open meeting of its governing council. The resolution was...
Kalo Mena Greece
On the first day of each month, Greeks greet each other with the salutation Kalo Mena, loosely translated as “Have a Good Month.” This first day of July 2015 promises to bring very little good for Greece.
Moody's Downgrades Greece Bonds to Junk
Moody's Investors Service has today downgraded Greece's government bond rating to Caa3 from Caa2 and placed the rating on review for further downgrade. "The short-term rating is unaffected by this rating action and remains Not Prime (NP)," the agency said....
Wikileaks: US and UK Bugged Merkel-Hollande Plan for Greece
The United States National Security Agency has been massively targeting phone numbers of top German ministers and public officials responsible for commerce, finances, economics and agriculture – including even Angela Merkel's personal assistant, WikiLeaks said. The site published a list of...
Greece Defaults on International Obligations; IMF Statement
Greece has missed its June deadline to pay €1.6 billion to the IMF, becoming the first developed country to default on its international obligations. Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement...
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...
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