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....
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...
EFSF Announces End of Greek Bailout Programme; Greece on its Own
The European Financial Stability Facility (EFSF) just released a statement announcing the end of its financial assistance to Greece. After the end of the programme on Tuesday Greece will be on its own, amidst the worst financial crisis the...
Greece Offered to Conditionally Suspend Referendum: Reports
Greece has offered to suspend its planned referendum said Malta's Prime Minister Joseph Muscat according to a report by the Times of Malta. "They are ready to suspend their referendum or ask the people to vote 'yes' instead of 'no'...