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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....

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...

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...

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...

What Happens When a Country Like Greece Closes Its Banks

History can shed some light on the Greek drama. Before joining the euro, the Greece's government had previously implemented strict capital controls and transaction limitations.

Greece Shuts Banks; Capital Controls Imposed Amidst Crisis

Capital controls have being imposed in Greece, as without the ECB's help the financial crisis deepens. Greek Finance Minister Yanis Varoufakis announced that banks will stay...

Greece’s Parliament Greenlights Greek Referendum to Be Held July 5

The Greek Parliament approved the Greek government's proposal for a referendum to be held in Greece on July 5, asking citizens to vote YES/NO...

PM Tsipras Slams Eurogroup, Creditors; Urges Greeks to Vote ‘No’ in Referendum

During a heated session at the Greek parliament that is currently voting in order to approve a referendum proposal by the Greek government, Prime Minister...

How Greece’s Bailout Referendum Will Be Held: The Process

Prime Minister Alexis Tsipras announced during the early hours of Saturday that Greece will hold a referendum on Sunday July 5. According to the cabinet...

Greece to Hold Referendum on Bailout Agreement

Greek Prime Minister Alexis Tsipras announced that Greece will hold a referendum on July 5 to ask the Greek people if they approve of a...

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