Eurozone
Greece
EU Greenlights 7 Billion-Euro Emergency Assistance to Greece
The European Financial Stabilisation Mechanism (EFSM) has granted Greece an emergency seven billion euro loan to cover its financial needs for the next three months, according to reports.
Euro Area said to agree in principle to €7bn #Greece bridge loan....
Economy
German FinMin Schaeuble Still Supports Temporary Grexit
German Finance Minister Wolfgang Schaeuble admitted that the austerity package approval by the Greek Parliament is an important step that would lead to further negotiations. He stressed that the new bailout deal will be even tougher than before, while he...
Economy
ESM's Regling Warns of Greek Banking System Collapse Without Third Bailout
European Stability Mechanism (ESM) head Klaus Regling has warned of a collapse in the Greek banking system if the country does not secure a third bailout, saying this would have consequences for the entire Eurozone.
"If everything fails, then the Greek...
Greece
Under Grexit Threat, Greece's Parliament Approves Greek Bailout Deal; More Austerity
With the Greek economy in ruins and the Greek banks still closed, the Greek parliament approved the terms of the latest (3rd) Greek bailout deal offered to Geece by its creditors: the European Central Bank (ECB), the European Commission...
Economy
IMF Might Withdraw from Greece's Bailout, Finds Debt Unsustainable
The International Monetary Fund finds the Greek debt unsustainable and called on Eurozone leaders to write off part of it.
Greece owes almost 10 percent of its debt to the IMF and Germany has insisted that the fund remains in...
Economy
This Is the IMF Greek Debt Report Europeans Don't Want to Hear About: Full Document
"Greece’s debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far." -IMF
One of Greece's main creditors, The International Monetary Fund (IMF), released today an official...
Economy
Greek PM Tsipras Interview: "A Bad Deal Was My Only Option to Save Greece"
"It is a bad deal, but there is no better option" Greek Prime Minister Alexis Tsipras said, referring to the agreement he worked out with Greece's creditors at a 17-hour long Euro Summit.
Greek Prime Minister Alexis Tsipras gave an...
Economy
Schaeuble Proposed Parallel Currency for Greece
According to the German Handelsblatt, German Finance Minister Wolfgang Schaeuble suggested the issuance of IOUs in Greece, during the Eurogroup, held on Sunday, July 12.
Schaeuble is continuing to play in the “game” against Greece. After proposing the five-year Eurozone...
Economy
Varoufakis: 'Greece Was Working on a Drachma Plan'
Yanis Varoufakis resigned from his finance minister post just a week ago and is already causing commotion away from the center of political and economic activity.
Varoufakis gave an extensive interview to Harry Lambert for the NewStatesman, released on July 13, in which he...
Economy
IMF Releases Statement on Greece's Nonpayment
Although earlier the IMF said that is willing to work with the Greek government who had stated that there are no funds to pay debt until a new bailout deal is finalized, a few hours later, the organization issued...