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international creditors

Economist Krugman: I Would Vote 'No' in Referendum

Through a New York Times blog post published on Sunday evening, the Nobel Prize-winning economist Paul Krugman urges the Greek people to vote "no" in the upcoming referendum regarding their creditors' bailout terms. In his article, Krugman expresses his personal...

Former IMF Chief Proposes Temporary Suspension Of Greek Payments

Former International Monetary Fund Managing Director Dominique Strauss-Kahn made his own suggestions about the Greek financial crisis urging Greece's international lenders to accept a temporary halt to debt payments. The former French finance minister presented his proposals to the public through a three-page declaration entitled...

Merkel Calls German Party Leaders Meeting On Greece

As Athens’ standoff with the European Commission, the International Monetary Fund, and the European Central Bank is taken to a dangerous new level, German Chancellor Angela Merkel has reportedly invited leaders of Germany's major parties to a meeting in Berlin on...

IMF Chief: 'No Aid For Greece, If 30 June Payment Missed'

International Monetary Fund Managing Director Christine Lagarde said in an interview with BBC on Sunday that her institution will not step forward to provide additional financial assistance to Greece, if the Greek government miss its €1.5 billion ($1.7 billion) payment on...

German Foreign Office: Tourists to Take Plenty of Cash to Greece

In view of the current financial crisis, the German government has issued an unusual advisory regarding Greece. A statement posted on the website of the German Foreign Office on Sunday instructed German citizens planning to travel to Greece on vacation...

U.S. Treasury Secretary: 'Athens Should Reach A Compromise With Creditors'

U.S. Treasury Secretary Jack Lew spoke with Greek Prime Minister Alexis Tsipras over the phone on Monday morning in an effort to urge the Greek government to move with reliable proposals toward an agreement with creditors, a Treasury official revealed. After his phone conversation...

Tsipras: 'Greece Is on the Final Stretch Toward a Bailout Deal'

Greek Prime Minister Alexis Tsipras told media on Wednesday afternoon that Greece is finally close to an agreement with its international creditors in order to receive the emergency cash the country needs to avoid a potential default. "We took many steps. We are...

Greek State Unblocks Piraeus Port Sale

A senior Greek official involved in the privatization process of the Piraeus port revealed to Reuters that Greece has asked three firms to submit binding bids by September 2015 for a 51% majority stake. The agency reports that unblocking the...

Economist: Grexit Unavoidable, Unless Tsipras Changes Course

Greece's exit from the euro zone is unavoidable, unless Prime Minister Alexis Tsipras changes course, an Economist report says. The leftist SYRIZA party won January's elections in Greece based on promises of cutting state debt and putting an end to...

Greece, 6 Bankruptcies in Less Than 200 Years

Greece has been the center of attention for over two weeks, after the January 25 elections. Foreign media, news agencies, government officials and investors are watching the new Greek government closely, criticizing its every move. Furthermore, people around the world...