default

The US Congress has approved a deal to lift the country's borrowing limit, days before the world's largest economy is due to default on its debt. The bipartisan measure sped through the Senate by a vote of 63-36, a day...

Russia has defaulted on roughly 37.8 billion euros, or $40 billion—in international debt, the effects of mounting and crippling international sanctions four months into its invasion of Ukraine. Russia had originally faced a May 27th deadline to hand over the...

The fear of default has appeared again in Greece, after talks between Athens and lenders on the bailout program review have stalled over the new contingency measures creditors require, says a report on The Guardian. "The review that should have...

The European Central Bank (ECB) noted that even though after July Greece's expectations to default diminished, the stakes are still high due to concerns over an early and full implementation of the third bailout  program. For what concerns the Eurozone...

China is confident that Greece's economy will turn around, after the outcome of Sunday's referendum. Deputy Chinese Foreign Minister Cheng Guoping said that he believes the Greek debt crisis would be "appropriately resolved." According to Reuters, Cheng Guoping said that with...

  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...

By Wesley Widmaier*, Griffith University Economic policy is not a morality tale. The Greek tragedy is that the Europeans have treated the Greek crisis as a question of national character. In their outrage at the Greeks – in the context of...

By André Broome, University of Warwick Greece missed the deadline on its €1.6 billion loan repayment due to the IMF June 30, becoming the first advanced economy to default to the fund in its 71-year history. Here are nine essential things to know...

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...

Minister of Economy, Infrastructure, Shipping and Tourism Giorgos Stathakis said on CNN and The Financial Times that Greece will not make the repayment due to the International Monetary Fund on June 30 (today). The default will put Greece on a...